Kaki Dex — a decentralized exchange protocol. The Kaki Exchange is not custodian, which means that users do not need to own your tokens in order for them to trade. KakiDex offers the ability to trade without trust, in a peer-to-peer network, with liquidity, provided by the users themselves. The crypto trading platform also proposes new projects to shape a new market and gain more acceptance.
Contents:
How does the KakiDex project develop and work?
To become a liquidity provider, users need to deposit an equal dollar amount of two tokens. In return, these users will receive Kaki Dex Liquidity Provider (KLP) tokens. Having this liquidity allows other users to trade two tokens in exchange for a small commission, distributed proportionally to all liquidity providers and $ KAKI participants.
Some features of this cryptocurrency trading:
| 1 | The basic functionality of the Kaki Dex is achieved with the UniswapV2 Core and Periphery implementations. Each Kaki Dex pair manages a reserve pool of both ERC-20 tokens. |
| 2 | Liquidity pools are open for anyone to join by depositing the equivalent value of each base token in exchange for the pool tokens. |
| 3 | These tokens track the proportional shares of LP in total reserves and can be exchanged for underlying assets at any time. |
Kaki Dex is also an “Automated Market Maker” or AMM. As long as the custom tokens remain in the pool, price fluctuations for the two tokens automatically re-calibrate the number of pooled tokens, according to the equation x * y = k, where x and y are the numbers of the two paired tokens and k is constant. This means that the equal number of tokens that the user initially deposited will change when they regain liquidity, compared to the difference in the price change of both deposited tokens.
If the price of both tokens goes up or the price of both tokens goes down, you will still have a relative amount of each token, proportional to the difference in the price change of x and y.
Decentralized exchange on social media
Kaki Dex charges a fee of 0.3% for exchanging tokens. This commission is split between liquidity providers in proportion to their contribution to liquidity reserves. Commissions go to the liquidity reserves. The value of liquidity tokens increases because of this, performing the function of paying all liquidity providers in proportion to their share in the pool. Fees are collected by burning liquidity tokens to remove a pro rata share of the underlying reserves. There is an introductory document on the site. With its help, everyone can study the features of the project. The RoadMap section marks future updates.
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