FiatDex: A smart contract where you can exchange fiat for crypto anonymously

[happypsyduck]

FiatDex Protocol v2
Website: https://happypsyduck.github.io/fiatdex-gateway
GitHub Source: https://github.com/happypsyduck/fiatdex-gateway
Telegram: https://t.me/joinchat/LKOC7hNpttszh22G6lEfyg

A decentralized and anonymous fiat to crypto trustless swap process to trade fiat for DAI stablecoin without using a third party.

FiatDex is crypto to fiat decentralized protocol that uses the risk of collateral loss to force traders to cooperate in fiat to DAI swap. There are no 3rd parties or middle-man arbitrators. No need for reputation systems or identity checks. Users can exchange fiat for crypto anonymously and without going through a centralized gateway. The only requirement is that both traders have some DAI to start with as that will be used as collateral. This protocol is not designed for those without any crypto, but for rather, those seeking more (or needing fiat) without wanting to use a 3rd party.

Please read the whitepaper to learn more about the swap process and the technical details:
https://happypsyduck.github.io/fiatdex-gateway/whitepaper.pdf

All feedback is welcomed.

[sunsilk]

Your dex needs a lot of improvement. You need to get your own domain first so you can operate. Someone who isn't aware of github might think of your dex as not a legit exchange.

You need to lessen the minimum trade for DAI. It's a dex so it should be more adopting than the cex so lessening the minimum is needed. What does the mail method means?

[happypsyduck]

Your dex needs a lot of improvement. You need to get your own domain first so you can operate. Someone who isn't aware of github might think of your dex as not a legit exchange.

You need to lessen the minimum trade for DAI. It's a dex so it should be more adopting than the cex so lessening the minimum is needed. What does the mail method means?

Thanks for the feedback. There is no intent to move it to a centralized domain name / hosting as the hope is that users of the protocol run the site from their own localhost server. If they do that, it makes it more difficult to censor the protocol.

There is no minimum trade size to use the protocol. What you are referring to is an open offer to buy DAI using fiat. Anyone can create an open offer of any trade amount. The mail method on that offer means the desire to send fiat by mail in exchange for DAI.

[sunsilk]

Thanks for the feedback. There is no intent to move it to a centralized domain name / hosting as the hope is that users of the protocol run the site from their own localhost server. If they do that, it makes it more difficult to censor the protocol.

Technically speaking, I don't have an idea with that but if that's for the good of the users then that's a good reason. I've only suggested as a part of the users that has a first impression whenever we see a domain that's not very familiar, although I'm familiar with github.

There is no minimum trade size to use the protocol. What you are referring to is an open offer to buy DAI using fiat. Anyone can create an open offer of any trade amount. The mail method on that offer means the desire to send fiat by mail in exchange for DAI.

Ok, that means that using fiat > DAI, there's a minimum amount for purchase. Whilst, using crypto to crypto transaction, there's none? I think I've understood it, thank you for that.

[happypsyduck]

There is no minimum trade size to use the protocol. What you are referring to is an open offer to buy DAI using fiat. Anyone can create an open offer of any trade amount. The mail method on that offer means the desire to send fiat by mail in exchange for DAI.

Ok, that means that using fiat > DAI, there's a minimum amount for purchase. Whilst, using crypto to crypto transaction, there's none? I think I've understood it, thank you for that.

Not really, I mean there is one offer there right now where the person is willing to buy between 50-100 DAI with fiat. Other people can create other offers with different bid amounts.

[Financisto]

Any intention or plan for getting your code fully audited?

Is there any ETA?

[happypsyduck]

Any intention or plan for getting your code fully audited?

Is there any ETA?

No manual audits done yet due to expense but AI powered audits performed show contract threat level is low.

[happypsyduck]

How to video now available on YouTube:
https://youtu.be/a4nNW8EXn9c