Vexchange, the first DEX on VeChainThor has launched Vexchange 2. it utilizes the brand new Sync2 technology, enabling users to access the DEX seamlessly, further paving the way for DeFi on VeChain.
Vexchange expressed: We’re excited to announce the arrival of the broadly successful Uniswap V2 functionality to VeChain, in the form of Vexchange V2.
Thus, the Uniswap V2 functionality is now available on VeChain as Vexchange V2.
Vexchange continues to enjoy community support for more than 2.5 years now. In the current market scenario, it is necessary to have DEX in any cryptocurrency ecosystem.
Vexchange V1 as a decentralized marketplace proved to be a proof of concept. In addition, it served as a place for “pooled and automated liquidity provision on Vechain.”
The Vexchange protocol works without any maintenance activities and serves as an unstoppable platform for VIP180 token conversion. Thus, the V1 will be able to be fully functional for as long as the community exists. And, it will work well to provide services related to different use cases in the Vechain.
Vexchange is much like the second iteration of Uniswap V2. There are several new features and improvements in the process. The changes are VIP180/ VIP180 pairs, variable swap and platform fee, price oracles, flash swaps, core/helper architecture, technical improvements, auditors, and more.
Manipulation-resistant on-chain price feeds, which are highly decentralized price oracles, are provided. By accumulating historical data and identifying costly prices to manipulate, they make it possible to measure prices. Thus, these price oracles will make it possible for external smart contracts to develop gas-efficient, time-weighted averages of Vexchange prices for different time intervals.
Several decentralized financial applications need on-chain price feeds as a critical component. Since the price can move significantly in a short period of time, Vexchange V1 cannot be used successfully. However, the V2 has several improvements for price feeds built on top of it.
The exchange V2 contains several significant changes and improvements: Smart contracts are written in Solidity instead of Vyper. Use CREATE2 to make the pool address deterministic based on the VIP180 token pair. Built-in meta transaction “approve” function for liquidity tokens. Increase reentrancy protection using a mutex (adds support for non-standard VIP180 tokens). Fix bug from Vexchange V1 that uses all remaining gas on failing transactions. More descriptive error messages. The above bug caused failing transactions to only return the error “Bad Jump Destination.”