SphinxCoin Decentralized Exchange

SphinxCoin is working on publishing its open-source decentralized exchange - SPXDE. We are currently in our very early stages, but we are working hard to get it out there. Please check our project draft paper to learn more about it.

SPXDE is designed to provide a decentralized exchange for any exchangeable / tradable Digital Asset that offers public API's to communicate with it. At this stage our focus will be on crypto currencies, to cover the exchange between all possible algorithms out there.

For now, we are testing it through our website here. So, please go ahead and give it a try, even with a very small amount; its very important for us to get your feedback!

SPXDE Features

Open Source

Entirely open-source code

Transaction Rewards

A new concept of mining and rewards

Very Low Fees

Transaction fees are only 0.1%.

Transparent

All information are fully disclosed.

Test SPXDE Alpha Now


Right now we are still working on many parts of SPXDE, but you can go ahead and test it right here. We are currently supporting many Ethash coins ... other algos will be available soon.

SPXDE right now can only process "private" exchanges, which means that the sender and receiver are both known beforehand. Of course the final release of SPXDE will allow "public" exchanges. Please refer to the draft paper for more details on both "private" and "public" transactions.

The process is very simple:

  1. Select the coin you are going to send from
  2. Enter the address you are going to send from
  3. Enter the address you are sending to
  4. Enter the amount you are sending
  5. Select the coin you will be paid in
  6. Enter the address for your payment
  7. Enter any note (optional)
  8. Click "Submit"

You will be then presented with your transaction info:

  1. Intermediary address that you should send the funds to
  2. The fees
  3. The total amount that should be transfered

SPXDE will hold your funds in the intermediary address until the other side sends ITS funds to SPXDE. Once both sides' transactions are received into SPXDE, then the funds are released to both sides. Think of it as A wants to send 1 ETH to B and wants 10 ETC in return. A will send his 1 ETH to SPXDE stating the above mentioned details ( A's ETH sending address, B's ETH receiving address, and A's ETC receiving address). A will actually make his transfer to SPXDE's intermediary address, which will hold the funds until B completes his transaction. B will do the same, but in reverse. B will enter his sending ETC address, A's ETC receiving address, and B's ETH receiving address. B will send his 10 (+fees) ETC to SPXDE's intermediary address. Once both transactions hit SPXDE's intermediary address, then A will be sent his 10 ETC, and B his 1 ETH.


Fees are calculated as follows:

  • - 0.1% is SPXDE fee
  • - 4x the coin's network fees (explained in the draft)

All transactions are visible on the coin's own blockchain explorer at all times.

A new intermediary address is generated for every transaction.

Our Roadmap