Frequently asked questions
Dexalot is a revolutionary decentralized exchange aiming at bringing the traditional centralized exchange look and feel, through a decentralized on-chain application. Dexalot users can trade crypto securely and efficiently, with no slippage or custody risk. It is built on Avalanche, the fastest smart contracts platform in the blockchain industry.
Before you can access the exchange, you must link a Metamask wallet with Dexalot. Instructions on how to get started are here.
The testnet is still active. The testnet and mainnet are working side by side to let new users get used to Dexalot and provide users who want to practice that opportunity more. Click here to access the testnet.
To cancel and order click on “My Orders” in the bottom middle tab, then click on “Active” and the “x” on the right hand side.
We fully agree that security is of paramount importance. To this end we tried our best to use well-audited libraries of OpenZeppelin to build on at the smart contracts level. We also did two private security audits and three public security audits by Hacken. We plan to trigger a security audit whenever an update is done for smart contracts. Additionally, we did extensive hardening at the infrastructure level to increase the resilience of Dexalot in this age of distributed attacks and scanners, etc. We will soon announce a bounty program as well to encourage community members skilled in security to contribute to the project. In addition, since a multisig decides which new pairs to be listed on Dexalot, the probability of interacting with a malicious contract is very limited.
Orders are filled first based on price, then on time entered (orders entered earlier will be executed earlier). You can learn more about orders here.
Yes, the Dexalot token- ALOT, is intended to be a utility and governance token for the Dexalot ecosystem. The planned utility for the Dexalot token includes functionality in governance, for gas, in staking and with incentives. You can learn more about ALOT on our Litepaper.
In the middle of the page, click on “My Orders” then “Filled”. Click on the magnifying glass to the left of the order you are interested in, to view the details
The first pair of Dexalot (AVAX/USDT.e) was listed as part of the deployment process. The deployment script was designed to deploy the smart contracts, add the first pair and transfer the ownership of the exchange to a 3-of-4 multisig wallet. With that said, any new trading pair needs to be listed through an approval process by this multisig wallet. Dexalot project members collectively hold only one out of 4 keys required to execute any operational decision for the exchange. Dexalot values community participation and there will subsequently be a transition to governance that will guide the decision making of the multisig.
The user experience is expected to be better with easier transaction completions with less reverts due to gas price changes. Overall, we expect a significant increase in transaction speeds as well as a lower overall transaction costs. Additionally, the flexibility in coding will allow the team to also add features with new order types or other related products and services.
You can disconnect your Metamask account from the dapp by clicking on the three dots menu on the top right (next to Account NN). Select "Connected site" it will show dapps list that were authorized to use the current account. You can remove the dapp from the authorized list with the trash can icon.
That's the last executed price. That price may differ because of liquidity and volume at that time. You have the ability to name your price on Dexalot, so it will not be executed worse than your price. Prices will become more stable and consistent as more liquidity and volume flow in.
DeFi composability on Avalanche is indeed excitingly going to increase with the introduction of customizable EVM-compatible blockchains. Dexalot has security at the core of all development. We encourage traders and smart contract developers to help scrutinize our on-chain code and become part of this development.
Governance will be based in part on an OpenZeppelin framework. In general, it will be similar but the thresholds for various actions will differ. You can read more about Dexalot governance here.
It is a non-custodial, permissionless decentralized exchange. Therefore, for average users the key advantage is that the control of their assets will be always in their hands. There are no frequent, unexpected maintenance periods that block deposits, withdrawals, or trading in general. Also, you have the ability to name your price through limit orders and that should give you the peace of mind that your orders never get executed worse than your price. There are minimized slippage risks.
If you enter a limit order it can be a maker or a taker. A maker orders pay the fee once as it enters the order book and waits until a taker order hits it. Taker orders (orders that match with other orders on the order book) pay the gas fees by scaling with how many orders they fill.This is the main reason Dexalot has a min trade amount….to ensure the taker order gas fees are reasonably under control and to give a good trading experience for all. Network fees are paid by AVAX, so you need enough AVAX in your metamask wallet to execute orders.
The orders are fully on-chain so you'll be charged network fee for every transaction, but bear in mind that avalanche has dynamic fees that change. In short, it may be lower or higher due to usage of the avalanche network at that time but avalanche also has one of the lowest fees on the market right now.
The orders are fully on-chain so you'll be charged network fee for every transaction, but bear in mind that avalanche has dynamic fees that change. In short, it may be lower or higher due to usage of the avalanche network at that time but avalanche also has one of the lowest fees on the market right now. Every deposit has a network fee (estimated gas fee) and exchange fee. The network fee is deducted from your metamask wallet and the exchange fee is deducted from the amount you deposit. Both amounts show on the deposit screen before you click the deposit button. (Same logic applies to withdrawals as well.) The exchange fees can be found here for each trade pair.
The variable nature of the gas fees comes about for a variety of reasons and factors. Please read our Litepaper to learn more details. For instance, the gas fees depend on the number of operations your order will have to execute. It is possible that your order will be matched by multiple small orders at 117.6 compared to possibly being matched to a single order at 118. Hence 117.6 has higher gas. Alternatively, if you are entering an order that won’t need to be matched, the gas is lower if the price you picked already exists in the order book. New price points require additional storage in the blockchain, and that costs extra gas.
There is no minimum to deposit, but the app gives a warning recommending to keep at least 1 AVAX in the MetaMask to cover future gas fees. Minimum trade amounts for USDT.e and USDC.e was at a $250 equivalent and has been decreased to a $50 equivalent. The minimum for the trade limit for ALOT/AVAX is 0.3 AVAX. Gas costs effect transactions in a variety of ways. Please read about that in our Litepaper. If there were many small orders to fill there would be a fairly high gas cost involved. Some orders may have to be filled by many others, resulting in higher gas costs for the taker orders.
Gas costs effect transactions in a variety of ways. Please read about that in our Litepaper If there were many small orders to fill there would be a fairly high gas cost involved. Some orders may have to be filled by many others, resulting in higher gas costs for the taker orders. We wish we could have a lower amount but for the benefit of all and a smooth start this value is necessary. It will be adjusted over time to find a happy medium that enables a good trading experience for all.
The pairs started trading with only limit orders on CLOB based exchanges. Dexalot will follow the same strategy to ensure traders are not hurt by price volatility during the bootstrapping of a trading pair. Market orders will be turned on when acceptable depth in liquidity is achieved for a trading pair. For now, Fuji is testing the same code base with similar settings.
Dexalot has started with a single trade pair and expects the multisig and governance to gradually add from a pool of possibly 10 trade pairs. The pool includes top traded pairs from existing DEX's on the Avalanche platform.
Sometimes the cache of a user’s browser and our app website become out of sync. This issue may create difficulty in connecting to our app. You can try the following methods to restore your connection: Make sure you are pointing to the right blockchain network in MetaMask: Try selecting a different network and reselecting the Avalanche C-Chain If that does not work, try selecting a different account and reselecting your intended account If the problem persists, force a page refresh with Shift+F5 (hold your shift key and click F5). If the problem is still not resolved, reset your browser's cache from your browser's settings page (please note that you may lose logged-in sessions, saved passwords, or browsing history depending on the options you select when resetting the cache)
Here is a list of steps you can try that will likely fix the issue: 1. Make sure you are using the right chain and right account. 2. Make sure you have enough AVAX in your MetaMask account to pay for gas. 3. Refresh your browser with Shift + F5 4. Turn off you VPN if you are using one. 5. Clear your browser's cache for the site 6. Reset MetaMask with all the warnings If none of these steps work, please send an email to firstname.lastname@example.org with a description of your concern and some screenshots of the issue.
This problem can occur when the network is very busy. When this happens, the average gas price increases which causes transactions done through MetaMask to take longer (unless you manually override the gas price in MetaMask to a higher value). This should not be an issue once the network usage is less busy. You read about how to fix a pending MetaMask transaction here
If your order is still under "open order", that means it is not filled yet. Your assets will be reflected after your order gets executed. So you should wait till your order is executed or cancel the order and change the price if you want it to be executed immediately.
What you performed what is called “wash trade.” Wash trades are allowed because under normal circumstances it would be uneconomical to do so because if you do a wash trade you not only pay gas fees but also commissions for both of your buy and sell orders.
Your order may be partially filled. Please check both open and closed order in order to be sure if it’s filled or not.
The Portfolio available = (portfolio total) - (funds from the portfolio that are tied up in trades). It is possible your trade is not complete. Please check your open orders.
This problem can occur when the network is very busy. When this happens, the average gas price increases which causes transactions done through MetaMask to take longer (unless you manually override the gas price in MetaMask to a higher value). This should not be an issue once the network usage is less busy. Please increase the gas manually if you can. You can track the network utilization here. When it gets higher than 40 AVAX (according to chart) then we see slowness and the only way to beat it is to manually increase the gas price to higher values. You can read more about this here.