The Dexter decentralized exchange is integrated into the Magma wallet.

By camlCase

on December 01, 2020

For the past year camlCase has simultaneously been building two products for Tezos: Dexter and Magma. We view both of these products — a decentralized exchange and a mobile wallet, respectively — as fundamental components of the Tezos ecosystem, and from the beginning our vision has been to integrate these products. Today we are excited to announce that we have finally brought them together!

With its latest release for iOS and Android, Magma becomes the first mobile application in the Tezos ecosystem to enable trading of XTZ for other tokens built on the Tezos FA1.2 token specification (with FA2 support coming soon). Trading is enabled with the native integration of Dexter, with tzBTC and USDtz tokens available to trade upon launch, and more coming soon. 

Today you can begin using the exchange functionality of Dexter within Magma. The ability to add and remove liquidity is currently limited to the Dexter web UI, but this capability is coming to Magma soon.

Dexter is a decentralized exchange that removes the need for a centralized order book by automating a market for XTZ and FA1.2 in the logic of a smart contract, similar to Uniswap for Ethereum. You can read more about how Dexter works at dexter.exchange/docs.

The world of DeFi applications on Tezos is rapidly expanding, so we can be sure that Dexter won’t be the only DeFi protocol natively integrated into Magma. Other teams are working on cool projects, and we will consider these new protocols for integration when they become available.

We have also improved overall app performance considerably in the latest release. Many more features are on the way, as well. We continue to welcome your feedback, so please keep your requests coming using the Feedback option in the Settings menu.

Follow us on Twitter at @magmawallet and @camlCaseTech for the latest news and developments, sign up for our mailing list to get the latest updates, and download Magma for iOS and Android on the App Store and Google Play.

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