Orders Exchange is the first fully architected order book decentralized exchange operating on the Bitcoin Layer 1 network. It seamlessly integrates the Ordinals protocol, PSBT technology, Bitcoin scripts, and the Nostr protocol, culminating in the world’s inaugural complete trading system and liquidity pool solution based on the Bitcoin Layer 1 network.
Orders Exchange is the first decentralized exchange (DEX) boasting order books fully operational on the Bitcoin network. This platform harnesses the extensive capabilities of Bitcoin’s Layer 1. It is also propelled by a dynamic fusion of the Ordinals protocol, PSBT technology, Bitcoin scripts, and the revolutionary Nostr protocol. Embrace the future of Bitcoin-based DeFi with comprehensive support for BRC-20 Tokens.
At Orders Exchange, they aim to transcend the perceived limits of what Bitcoin can achieve. Through meticulous development, they’ve unlocked the extraordinary potential arising from the synergy between Bitcoin’s PSBT technology and the Ordinals protocol. Get ready to experience a trustless ORDERBOOK DEX, Liquidity Pool, SWAP DEX, and LaunchPad, all encapsulated within the Nostr framework.
Just six months ago, the consensus was that Bitcoin couldn’t mint NFTs. Three months ago, skeptics denied the existence of Bitcoin Tokens. Before the launch of Orders Exchange, doubts loomed over Bitcoin’s ability to support DeFi. Now, Orders Exchange is ready to take DEX to the next level.
What is PSBT (Partially Signed Bitcoin Transaction)?
The Partially Signed Bitcoin Transaction (PSBT) is a standardized format that streamlines the handling of Bitcoin transactions in an intermediate, non-finalized state. Introduced through Bitcoin Improvement Proposal (BIP) 174, PSBT addresses the complexities associated with constructing and signing multi-input, multi-output transactions. In essence, a PSBT is a transaction that has some or potentially all of its inputs partially signed but has not yet been fully completed or broadcast to the Bitcoin network.
The inherent value of PSBT lies in its efficiency and security, particularly in collaborative transaction construction scenarios where multiple signatures are necessary. Utilizing PSBT allows entities involved in the transaction to independently and incrementally work on signing it without the necessity of revealing sensitive data to each other.
Adopting PSBT enhances the compatibility and interoperability of software wallets, hardware wallets, and other Bitcoin applications. This results in a seamless experience for end-users, particularly advantageous in managing complex transaction scenarios. The partitioning of the transaction construction and signing process into multiple stages through PSBT ensures increased flexibility and security, contributing to a more robust Bitcoin ecosystem.
Roles of PSBT in Orders Exchange
Security of Fund Transfers
PSBT plays a pivotal role in bolstering the security of asset exchanges on the Orders Exchange. When a user initiates a sell order, the PSBT generated is in a semi-finished state. Then, it remains off-chain until the user’s specified conditions are met. Even if this PSBT circulates publicly, it retains an inherent resistance to arbitrary modifications or exploitation unless the conditions set by the transaction initiator are satisfied. Users also possess the ability to invalidate the PSBT at any time by returning the assets signed in the PSBT to their own wallet. This adds an extra layer of security to their assets.
Efficiency of Fund Transfers
The design of PSBT significantly amplifies the efficiency of fund transfers within Orders Exchange. Transactions can securely circulate off-chain until all trading conditions are met. This enables widespread propagation and matching of transactions before actual execution, markedly enhancing the speed and overall efficiency of transactions.
Assistance to Orders Pool
By harnessing PSBT and multi-signature technology, Orders Exchange can seamlessly implement a fully trustless BRC20 liquidity pool. The liquidity provided by users manifests as a PSBT single-signed asset pair. It also has its output directed towards a multi-signature address jointly controlled by the user and the exchange. This intricate design ensures that the exchange cannot directly cash out the PSBT and access the user’s assets, thereby fortifying the security of liquidity providers’ assets.
Where to buy RDEX Token
You can find RDEX Tokens here at MEXC! We are listing RDEX/USDT in our Innovation Zone!
What is the Price of RDEX Tokens?
The RDEX Token is currently trading at MEXC with a live price of $0.2683. You can check the live price of their token right here!
How to buy RDEX Tokens on MEXC
You can buy RDEX Tokens on MEXC by following the steps:
- Log in to your MEXC account. Click on [Spot].
- Search “RDEX” using the search bar to see the available trading pairs. Take RDEX/USDT as an example.
- Scroll down and go to the [Spot] box. Enter the amount of RDEX you want to buy. You can choose from opening a Limit order, a Market order, or a Stop-limit order. Take Market order as an example. Click [Buy RDEX] to confirm your order. You will find the purchased RDEX in your Spot Wallet.
You can find a detailed guide on how to buy RDEX Tokens here.
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