DeGate is a unique open protocol that supports anyone listing any assets. Building a limit order decentralized exchange with fully open trading pairs will bring enormous value to the industry.
Uniswap, as a pioneering protocol of the DEX concept has proven the utility of a fully permissionless listing model to building asset diversity and ecological prosperity on the AMM track. DeGate builds on this concept but enables any pair to be trade with limit orders instead of market order swaps.
Permissionless listing is not easy to implement in a public protocol. There are significant economic and functional security issues. Thus, we see very few limit order defi protocols supporting permissionless listing. The current method of determining whether a new trading pair can be listed on a DEX is to decide through DAO governance or admin authority.
For economic security, DeGate uses a complete gas fee calculation mechanism. To ensure the sustainability of the protocol, gas-related fees will need to be charged to ensure data availability and to perform on-chain transactions on a mainnet. For a better user experience, multiple currencies are supported to pay gas fees and can be combined to fill actual orders placed. A rigorous mechanism of economic security will be implemented to ensure that the protocol will not be abused even as an open system.
It is worth noting that this mechanism is not friendly to rebase tokens and tokens with a backdoor. Do not deposit them. The smart contract of DeGate cannot correctly reflect the balance change caused by the mechanism of the token itself. DeGate will not be responsible for losses caused by the operation of such tokens.