Klaytn and SORAMITSU successfully conclude public testing of open-source DEX

TL;DR:

• Klaytn community played active role in public testing, with 52 bugs and 73 new feature requests raised and resolved
• Comprehensive changelog detailing full scope of updates published in the spirit of transparency
• Open-source DEX available as public good for any project in Klaytn ecosystem to repurpose 

As with any software or infrastructure prior to launch, our SORAMITSU-built DEX infrastructure underwent thorough public testing to ensure its ability to perform seamlessly under the rigors of diverse usage scenarios, as well as to provide opportunities for the Klaytn community to provide valuable feedback. 

After a month of public testing, we’re glad to share that our full-stack, open-source DEX infrastructure is now improved and ready for public use! Completed in November 2022, our DEX allows users to swap tokens, stake and provide liquidity, mint tokens, participate in decentralized governance, and monitor the exchange’s activities through dashboards, with all these functionalities being open-source and decentralized. 

Our community played an active role in the testnet, raising 154 issues on Github. These issues included 52 bugs and 73 new feature requests, addressed and resolved in releases on December 19th and January 11th. The feedback received from our community was not only helpful in identifying issues but also encouraging, for which we are extremely grateful.

In the spirit of transparency, the SORAMITSU team compiled a comprehensive changelog of all updates and made it accessible to the entire Klaytn community. 

The completion of this DEX backbone represents a public benefit for all participants in the Klaytn ecosystem. Neither Klaytn nor SORAMITSU will operate the DEX: instead it will be fully open-source decentralized and open to anyone to run on their own. This promotes interoperability and composability, while expanding the possibilities within Klaytn’s DeFi ecosystem. Furthermore, as the SORAMITSU-built DEX is open-source, projects have the flexibility to customize new features and visualizations based on their users’ specific needs.

Dr Sangmin Seo, Representative Director, Klaytn Foundation said, “The successful testnet completion for our open-source DEX, built by our trusted partner SORAMITSU, is a testament to the strength and active participation of our community. Their valuable feedback, including 154 issues raised and resolved on Github, has played a crucial role in shaping and improving the functionality of this open-source and decentralized infrastructure. We are grateful for their engagement and look forward to continued cooperation to grow the Klaytn ecosystem.”

Andrew Wong, Chief Operating Officer, SORAMITSU Group, said, “The Klaytn ecosystem is known to be one of the world’s most advanced blockchains; pushing the boundaries in the metaverse, gaming and creator economy. The conclusion of the DEX public testnet release marks a significant accomplishment for the SORAMITSU and Klaytn teams. My hope is that this can empower a new wave of potential operators and companies to start their Web3 journey on Klaytn. We look forward to building future collaborations within the Klaytn ecosystem.”

Interested in implementing our open-source DEX in your project? 

Read our user guide on how to deploy a DEX here.

Access our open-source DEX code here.

About SORAMITSU

SORAMITSU is an award-winning global financial technology company with expertise in developing blockchain-based solutions for digital asset and identity management. Our mission is to use blockchain to promote innovation and solve pressing societal challenges.

SORAMITSU is the developer of and major contributor to the open-source blockchain platform Hyperledger Iroha, which is tailored for enterprise and public-sector use. Part of the Linux Foundation’s Hyperledger Project, the Iroha blockchain’s flexible permissions system and scalable, performant architecture suit it to digital asset and identity management in high-traffic, multi-stakeholder environments.

Utilizing blockchain, SORAMITSU has developed a digital currency for the National Bank of Cambodia, a closed-loop payment system for the University of Aizu in Japan, an identity verification system prototype for Bank Central Asia in Indonesia, we were finalists in the Monetary Authority of Singapore CBDC Challenge, and are currently participating in Asia-Pacific’s first proof-of-concept test of a cross-border, multi-currency security settlement system using distributed ledger technology with the Asian Development Bank. We have also conducted proof-of-concept tests for several major Japanese enterprises, and are active contributors to open-source projects, such as KAGOME, the C++ Polkadot Host implementation, the SORA cryptoeconomic system, the Polkaswap DEX, and the DeFi wallet, Fearless Wallet.

Based on these experiences, SORAMITSU aims to deploy cutting-edge technology on a global level in order to expedite financial inclusion and health, mitigate economic inefficiencies, and contribute to the fulfillment of the Sustainable Development Goals.