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Taebit DEX: Overview
Taebit DEX is a non-custodial decentralized exchange (“DEX”) that is powered by a decentralized foreign exchange (“forex”) market through the world’s first single reserve, hybrid algorithmic multi-currency stablecoin engine (Alkemy, discussed more in detail below). Taebit is a Solana-based DEX platform inspired by the centralized nature of exchanges in South Korea and in alignment with the core philosophy of web3, combining the functionality of a DEX with the infrastructure of a fully functioning foreign exchange (FX) market.
It is difficult for traders in the web3 system to have denomination in their own currency as there are limited fiat on ramp options or stablecoins that represent currencies outside of the US dollar.
There are a few limited jurisdictions where it is not preferred to denominate in the local currency as the primary purpose is to be able to expatriate assets.
On Taebit, users can exchange tokens with lower transaction fees and less latency than any DEX on Ethereum, all while knowing that they are getting a fair price thanks to a link with Serum’s robust order book.
Taebit DEX is specifically designed to address the usability issues that worry most investors. Taebit DEX will be a human-readable protocol built for investors rather than complex traders and crypto natives. Taebit DEX will also incorporate features that will make the investing process safer for investors at risk of high slippage or being front-run (i.e., rug pulled).
Additionally, Taebit DEX begins with a pre-integrated cryptocurrency wallet. This allows users to be in complete control of their funds, and at the same time, enjoy the user experience similar to a centralized exchange -- without the complicated integrations and approvals of code necessary in most blockchain transactions. The pre-integrated wallet should circumvent the most challenging part of the pre-processing of using a crypto wallet, which usually entails users having a separate standalone wallet that they can access and subsequently connect with the DEX to trade between assets.
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