BitX BRC-20 Dex


BitX uses a backend router to initiate transfers for traders,The backend script is written in a decentralized manner that gives no power to the deployer or wallet owner!!
Due to the nature of Bitcoin Ordinals theres no such thing as a contract that operates according to code ( Uniswap for example ) so the only possible method to enable trading for BRC20 is thro a node js or similar backend structure.
Using a backend has its pros and cons but its the only doable option in the meantime!
Lets dive into how BitX handles transfers " trades ":
Adding LP to the API wallet for transfers "trading"
Despite BitX having initial liquidity for launch , its crucial to attract liquidity providers on the long Run.
Liquidity providers earn 70% of the trading fees ( 1% per trade ) more info here​
API wallet handling trades
The backend handles all trades automatically according to code along with the safety measures and multiple confirmations for every trade to prevent bugs and fund losses.