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libreDEX

libreDEX is a fully on-chain smart contract decentralized exchange (DEX) on the Libre blockchain with near-instant finality for trading BTC/USDT pairs.

libreDEX functions essentially as a decentralized version of Binance, where anyone with a Libre account can place bids and offers into the orderbook using wrapped Bitcoin and Tether. This creates a permissionless trading environment with full on-chain transparency.

Features

  • Fully On-Chain: All trades and orders are executed and settled directly on the Libre blockchain

  • Near-Instant Finality: Transactions confirm quickly thanks to Libre's 0.5 second block time

  • Limit and Market Orders: Support for both advanced and basic trading strategies

  • Integration with Liquidation Engine: Provides market liquidity for the loan system

Trading Interfaces

  • Full DEX Interface: defi.libre.org/dex - Complete trading interface with limit and market orders

  • Simple Swap Interface: defi.libre.org/swap - Streamlined interface for quick market orders

Liquidation Opportunities

libreDEX plays a critical role in Libre's lending ecosystem:

  1. When a loan faces liquidation, the system automatically wraps the bitcoin collateral

  2. The wrapped bitcoin is then traded on libreDEX to recover the loan value

  3. This creates opportunities for traders to purchase liquidated assets at approximately 1% below current market rates

  4. Traders can monitor the DEX for these liquidation events to potentially profit from the discounted BTC

Monitoring Tools

  • Orderbook and Tables: libre-tools.com provides tools to view the current state of the orderbook and other relevant data

  • API Access: Developers can access the DEX data directly by querying the dex.libre smart contract tables:

    • Available on both mainnet and testnet

    • Use the get_table_rows API method to retrieve current orders, trades, and other data

    • Self-hosting options available for high-frequency monitoring

Technical Integration

Developers can integrate with libreDEX through the Libre blockchain API. Key endpoints include:

  • Order placement and cancellation

  • Market data retrieval

  • Trade history

  • Liquidity information

For detailed API documentation, refer to the Libre API Docs.

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