FiatDex — an Ethereum-based fiat for the Dai Smart Contract (DAI) from MakerDAO. It can be launched as a protocol for any Dapp that matches the order of users who want to exchange fiat for crypto or vice versa. It uses some features of various types of decentralized exchanges and puts them in a simple interactive smart contract.
Contents:
Description of the FiatDex platform
FiatDex — a decentralized process for exchanging data with DAI, which eliminates any dependency on an external third party. DAI - a stable coin, based on Ethereum, supported by the MakerDAO fund, designed for decentralization and for $1.
Project features:
| FiatDex Gateway | This is a simple web-based client interface for communication, using the Fiat Dex protocol. It requires the use of MetaMask and is useful if you plan to integrate the FiatDex protocol into your own Dapp. |
| FiatDexMarketplace | A simple, low-effort market that allows you to view and publish anonymous cryptography offers without the need to have a bank account or contact a third-party arbiter. |
The project site is simple enough. On the main page you will see the sections:
- "Buy offers";
- "Sell offers".
You can make a new offer, using the button, located at the very bottom. Next, you will see the window, where you must specify the type of offer, price and payment method.
Benefits of the own Bank
The most significant advantage of your own bank is that you have full control over your money. You can withdraw or make a deposit at any time, and your funds can’t be blocked by central administrators.
A stable DAI coin allows you to relax peacefully, knowing that the value of your coins today will be the same as next week. In addition, being your own bank with a stable DAI coin, you can participate in decentralized lending pools to earn from 1 to 10% per annum, which is much more than in a regular bank account. FiatDex with a stable DAI coin gives people around the world the ability to control their finances and protect themselves from a collapse of money, while supporting the practical use of fiat currencies.
Additional info about FiatDex
You can learn more about the project on the Medium site, where there is an article on the work of the project. Also, developers provide White Paper. Join the chat in a telegram to stay up to date with all news of the project. There is currently no information on the availability of audit of a smart contract.