What is BaseDEX exactly?
BaseDEX is a fully on-chain CLOB deployed on Base. It’s architecturally designed to operate as a “normal” CLOB, where one can place limit orders on a designated asset pair. It is highly gas efficient. Currently, one can only trade ERC20 spot asset pairs, but we envision extending the offering to other financial products and asset pairs.
Our ambition is to build a fully on-chain, regulated CLOB which can be used by both retail and institutions; we think this is possible now with the recently evolved technical and regulatory landscape.
BaseDEX is currently deployed on Base Goerli as a limited prototype for public testing.
We hope you're excited as we are!
Application
BaseDEX is currently deployed as a fully functioning prototype on Goerli Base (testnet). This deployment is intended to demonstrated the functionality and gas efficiency of the on-chain CLOB. You'll notice it accepts "Gold" and "Euros" instead of cryptocurrencies. The motivation is to illustrate the nature of the markets tradable on BaseDEX, i.e. securities and not cryptocurrencies.
Importantly, you need to deposit collateral into BaseDEX before sending the limit order.
Here is the application: https://app.basedex.com/
Here's a demo -