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A decentralized exchange project for NTU CX4153 Blockchain Technology Module

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mingjunsiek/CZ4153-Decentralized-Exchange-Project

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1. Deployment

1.1 Local Deployment

Requirements

  • Truffle v5.1.47 (core: 5.1.47)
  • Solidity v0.5.16 (solc-js)
  • Node v12.16.3
  • Web3.js v1.2.1
  • Ganache v2.5.4
  • npm

Initial Setup

  1. cd into project directory
  2. Run npm install
  3. Create a .secret file and add your Metamask's seed phrase in the file

Set Up Ganache

  1. Create a new project on Ganache
  2. Add truffle-config.js from project folder
  3. In the Chain section, ensure Gas Limit is 6721975
  4. Start Ganache Server
  5. cd into project directory
  6. Run truffle migrate --reset --network development in console

Set Up Accounts

Orders Architecture Orders Architecture

  1. Open up Metamask and add a new Custom RPC

Orders Architecture

  1. The RPC URL can be found on Ganache

Orders Architecture

Orders Architecture

  1. Import the first account on Ganache to your Metamask. The private key of that account can be found by clicking on the 'key' icon on Ganache
  2. You can add all the accounts in Ganache to simulate multiple users.
  3. Only the first account is the owner account which deployed all the contracts. This will be the account that will have the initial supply of SCSE, MAE and EEE tokens.
  4. If you do not see the ETH being reflected in your Metamask wallet, change to another network and change back to Ganache

Set Up Website

  1. cd into '.Something Funky Is Nice/dex-exchange'
  2. Run npm install
  3. Run npm run start in console
  4. If all token balances are 0 in the website, make sure your Metamask account is connected to the website

2. Plan

For this assignment, we will have an Owner who will be deploying all of our contracts. This Owner will be allocated the initial supply of tokens for SCSE, MAE and EEE. Thus, 1 million of each tokens will be allocated to the Owner.

The Owner will sell these tokens on the exchange at an affordable price.

Users who wish to obtain these tokens will have to trade their ETH for these tokens. Before doing so, they have to first swap their ETH to the base token, WETH. Only by doing so, can they trade on the exchange using the trading pairs available.

3. Funky Crypto Exchange Architecture

Orders Architecture

In our Exchange, we have a structure holding onto these coins, SCSE, EEE and MAE. In each of these coins, it holds a Buy and Sell book.

3.1 Token's Order Book (Buy / Sell)

In the Token's Order Book, it is used to store the Limit Orders that users had made in the exchange. A limit order has a price and amount. In order to easily insert new Limit Orders, we shall do the following:

  1. In each Order Book, it stores multiple Price which are linked together using a linked list. This Price are inserted in ascending order.
  2. We used a linked list as this allows for easier insertion of new prices.
  3. Deletion of Price when there are no more Amount nodes in it is achieved by connecting it's sibling nodes to each other instead of that Price node.
  4. In each Price, there may be one or more Amount.
  5. We also used a linked list to connect these Amount but it is not used to insert the Amount in an order. The linked list is to allow for easier deletion of Amount when an order has been fully filled or when an order is deleted by the user.
  6. Deletion of Amount node is the same as Price.
  7. The nodes in Amount are inserted based on a Queue system. The oldest orders have a higher priority than the newer orders. New orders are place behind older orders.

3.2 Buy Limit Order

Buy exe

3.3 Sell Limit Order

Orders Architecture

3.4 Buy Market Order

For a Buy Market Order, it is similar to the Buy Limit Order, with the only difference being there is no price indication. The order will take whatever is inside the Sell Order Book and trade the amount that the user wants from the cheapest price order to the most expensive price order. This continues until the amount is fully filled, the user ran out of WETH to trade or there is no more orders in the Sell Order Book.

3.4 Sell Market Order

For a Sell Market Order, it is the opposite of a Buy Market Order. It searches the Buy Order Book from the most expensive orders to the least expensive orders.

4. Features

4.1 Metamask Integration

3.1 In order to use the functionality of the website, users MUST install Metamask.

4.2 ETH/WETH Token Swap

3.2 In order to facilitate a smooth trading experience, we will use Wrapped Ethereum as our base token to trade. Users are able to swap their ETH to WETH in our exchange and vice versa.

4.3 Trading Pairs

3.3 Funky Crypto Exchange supports the following trading pair:

  1. WETH/SCSE
  2. WETH/MAE
  3. WETH/EEE

4.4 View Balance

3.4 Users are able to view their balances that they currently have in their Metamask account on our exchange.

4.5 Transaction Types

Funky Crypto Exchange supports the following transactions:

  1. Limit Order (Buy/Sell)3.5
  2. Market Order (Buy/Sell)3.5

4.6 View Global Order Book

3.6 Users are able to view both Buy and Sell order books for each trading pair.

4.7 View Users Order Book

3.7 Users are able to view their own orders that they have made on each trading pair.

4.8 Cancellation of Orders

3.8 Users are able to cancel the orders they have previously made.

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A decentralized exchange project for NTU CX4153 Blockchain Technology Module

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