This article is a development report for the Dex223 decentralized exchange.
We’re building an exchange to speed up the adoption of the ERC-223 token standard. ERC-223 was created to address a security problem in the older ERC-20 standard. The security issue of ERC-20 has caused over $100M in losses on Ethereum. Take a look at other Dex223 development reports.
Browse other Dex223 development reports here.
The core platform is considered production ready.
Our biggest concern at the moment is a smooth launch and liquidity during the initial stage.
As we are preparing for the platform launch on multiple EVM chains it was decided to release a new airdrops page: https://www.dex223.io/airdrops
When Dex223 will be deployed on a new chain a snapshot of D223 token balances would be taken on Ethereum chain. Then every address that held D223 tokens at the snapshot date would receive an equal amount of D223 tokens on the new chain Dex223 is being deployed to. After that point those would be two independent D223 tokens (D223-ETH and D223-new-chain) that govern the distribution of fees on their corresponding chains. Those tokens can not be transferred from one chain to another.
The new airdrops page would serve as a coordinational center for future airdrops. It will also hold the history of the airdrops, their dates and snapshots that already occured for transparency reasons.
Snapshots would be published here: https://github.com/EthereumCommonwealth/Dex223-crosschain-utilities
You can also find an open-source snapshot script in the same repo.
Here you can find the UI templates: https://www.figma.com/design/SdkEq4PAuwooqulVGHZ7yJ/%F0%9F%9F%A2-DEX223.io--Copy-?node-id=164-11877&t=IAwv0EgR03gmr77F-1
In preparation for the launch of the platform we are developing a referral system that would incentivise users to engage in consistent activity on the platform.
The referral system is still in development but the UI templates are available here: https://www.figma.com/design/kAMtiXhetOElu1uCz10JSf/%F0%9F%9F%A2-DEX223.io--Copy-?node-id=164-11877&t=3alAh0kl8lGcJaKk-1
The reference implementation of the margin module is completed.
Even though, the Oracles that pull price data from the Dex223 pools have known precision problems and at this point we are looking for a better solution.
Ideally we would like to introduce multiple different price sources so that the users would have a range of Oracles to select from.
We are currently investigating an opportunity to build a relaying price feed smart-contract that would pull data from various Oracles and combine them in a weighted price source that could serve as a mark price for liquidation triggers. We would prefer to use this model at the launch but the biggest problem is still the liquidity in pools.
Our data suggests that the current community size and existing user base is not sufficient to ensure a smooth launch. As the result we are looking for market makers or private parties who would "invest" sufficient amount of funds in order to deploy the initial liquidity at Dex223 pools during the launch stage.
This is currently our biggest concern and we are unlikely to announce the platform launch publicly until we ensure sufficient level of initial liquidity.
Dex223 launch is currently being discussed with founding teams of multiple L2s and other EVM-compatible chains we are planning to deploy to in order to attract liquidity providers as well as media representatives to coordinate an educational campaign related to ERC-223 standard usage.
Dex223 & ERC-223 team was presented at Devconnect in Buenos aires. I had a number of presentations related to token standards and the existing problems of the Ethereum ecosystem (there is a security problem with the ERC-20 standard, it is known for 8 years, it is fixable, people lost $100M because of this problem, $20M were lost during 2025 even though the problem is publicly known and reported multiple times, this is still not solved).
There were three main purposes of attending this event:
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Educating Ethereum community about the existing problem of ERC-20 and existing solution (ERC-223)
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Establishing contacts with founding teams of EVM-compatible chains and L2s.
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Fundraising & establishing contacts with market makers / liquidity providers.
The first point is the toughest one since it never happened in the history of Ethereum that a widely used standard got replaced by another one and it would require a significant coordination effort to drive this process. Our team did what depends on us (created a solution for an existing problem: ERC-223, proposed an upgrading mechanism: ERC-7417). We are trying to reach out to anyone who can spread the word about this, including media influencers, Ethereum Foundation members, and independent security researchers. It is too early to judge whether our efforts paid off yet but given that key positions in the management of Ethereum Foundation changed within the last year - we may see a change of their stance towards the existing problem as well.
We've established a number of contacts with investors and development teams from various projects that we could collaborate with, so we'll see how things develop over the next few months, but I'm quite positive about the prospects in this area. We are going to launch a private sales round of D223 tokens in January 2026.
Great thank you to @darviridis (https://github.com/Darviridis) for taking part in the event and introducing the ERC-223 standard at Devconnect's side events, as well as for your role in networking.
We are planning to launch a D223 private sales round in January 2026 as a replacement for the previously cancelled auction round. We will post an update as well as the final details are settled.
Feel free to contact invest@dex223.io
The goal of this round is to fund the inception stage of the DEX launch in order to ensure sufficient liquidity in the first pools.