*SNEAK PREVIEW* Binance Chain / DEX

Hi this is CZ from Binance. Today I
have something really exciting to share with you guys This will be the first
demo for the Binance decentralized exchange, the Binance Chain Honestly this happened much earlier than I anticipated I thought this will happen 1 to 2 months
later or more, but again the team delivered early It is still very much in early-stage development So this is a casual early pre-alpha demo Don’t expect too much, but we are able to demo issuing or creating of a token listing of the token on the decentralized exchange and trading of the token against another token on the decentralized exchange The team, as awesome developers as they are they are a little bit camera shy and so they didn’t really want to appear on video That’s why I’m doing this intro. But all the
credit goes to the team And without further ado let’s head over I think they are in their room preparing for the demo So let’s make a new token called XXX
token with a name of XXX token, total supply of 100 million That’s 100 million with 8 decimal places And now it’s pushing it to the
blockchain so now we have the token issued and we can call the info command
to get some information about the XXX token that we’ve created So that gives us this bit of JSON here It tells us the total supply and the owner key, which is my address When I refresh the wallet there I see that I’ve received the XXX token in the wallet there Yeah so now it’s been issued and my balance is the total supply So my account was credited with the total supply of the token Okay next is to list the token on the decentralized exchange So to do that we use the list command and we give it the symbol which is XXX and quote symbol we will say that’s BNB init price we’ll say that’s 1 and this will list the pair XXX against BNB on the DEX And now we can place an order so for that we use order.sh and we give it the list pair of XXX_BNB and size 2 We’re actually selling on the sell side here
because we have lots of XXX and we’d love to sell it so we give it a price of let’s say 1 BNB per XXX token And we want to sell one hundred Time in force is one so that’s going to create a sell order on the DEX and then when this is done we can view the order book using the show command and give it the pair and that’s the current order book I can create another order here with a higher price Let’s say we want to sell one for
this higher price we can create that order as well And the order book will
show those two orders there We can also grab the order book through Rest as well for the front end or any apps or bots that want to consume this data they will do it through the Rest interface which is not there hmm Oh yeah so this is actually showing the human-friendly values without the decimal places on there If we did have decimal places in the order then it would show those but this is easily consumable by an app or something that expects the actual value Yeah so now I think we will move to the other machine and match the order Okay looking at the balances of the other wallet So next we will make an order on this one this time on the buying side, XXX_BNB, as we setup on the other machine The price, we’ll be generous and say we’re willing to pay two We already saw it on the other one, yeah Quantity, let’s say you want to buy 1000 Okay, that order was created and then we
can show you the order book XXX_BNB Yea I’ve matched the order there, and again we can view it in Rest as well So as you guys saw that’s a
very casual early demo for the Binance Chain There’s still a ton of work to be
done to turn into a final product and the team is working on it very
aggressively Nevertheless I think this is a major milestone for Binance Chain and we’ll keep you guys up to date from time to time and thank you so much for your support Cheers, bye!

34 thoughts on “*SNEAK PREVIEW* Binance Chain / DEX”

  1. I joined binance on day 1, i remember the video of the binance team presentation

    I will only use binance, forever, thanks CZ i love you <3

  2. Looks very promising! Thanks for the update and please keep it up. We need DEXes as any cuisine needs salt! 🙂 Thank you for all your work so far and good luck and all the best for the coming months and years!

  3. Man, I am extremely excited about a potential DEX with liquidity and the ability to trade both ETH and BTC pairs

  4. Great news but how it will differ from BitShares?
    really like Binance!! Love the fact CEO interacts with users so much. Great team!

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