💹XRPL Decentralized Exchange

Provides an overview of the XRPL DEX and how to initialize it in X-Tokenize

The XRPL (XRP Ledger) decentralized exchange (DEX) is a feature built into the XRP Ledger that enables users to trade digital assets in a peer-to-peer manner without the need for intermediaries. It operates on a decentralized network of nodes that validate and facilitate transactions. The XRPL DEX utilizes a unique order book model called the "distributed order book," where each account can create and manage their own orders. When a trade is executed, it matches existing orders on the ledger, ensuring transparency and fair price discovery.

In terms of transaction options, the XRPL DEX supports various order types, including market orders, limit orders, and fill-or-kill orders. Market orders are executed immediately at the best available price on the order book. Limit orders allow users to specify the price at which they are willing to buy or sell assets, and these orders remain on the ledger until they are fully or partially filled. Fill-or-kill orders are designed to either execute the entire order immediately or cancel it entirely.

X-Tokenize and its contributors cannot be held liable for any issues or losses experienced while using the XRPL decentralized exchange (DEX). This includes, but is not limited to, loss of funds, software malfunctioning, user error, security breaches, or any other related incidents. The use of the XRPL DEX is at the user's own risk, and it is essential to exercise caution and diligence when engaging in trading activities. Users are responsible for conducting their own research, understanding the associated risks, and taking appropriate measures to ensure the security of their funds and accounts. X-Tokenize and its contributors do not assume any responsibility for the actions, decisions, or outcomes resulting from the use of the XRPL DEX or related features.

How to use the XRPL DEX with X-Tokenize:

Prerequisites:

• One of the following:

  1. Loaded an existing IC configuration in the IC Manager

  2. Configured a network and at least one account in the X-Tokenize Settings

If using the DEX with the IC manager, you will only have the option to manage orders for your issued currency.

Initializing the DEX:

IC Manager

1. Load your Issued currency configuration

2. Navigate to DEX

3. Prerequisite checks will begin if in IC Manager Mode:

   1. Orderbook for the IC-XRP will be retrieved

   2. Account offers for IC-XRP will be retrieved

4. Orderbook and account offers will be displayed

Main Menu

1. Launch X-Tokenize

2. Navigate to DEX

3. Select an account that you would like to use with the DEX

4. Enter the currency code and the currency issuer's address

5. Prerequisite checks will begin:

   1. Orderbook for the IC-XRP will be retrieved

   2. Account offers for IC-XRP will be retrieved

6. Orderbook and account offers will be displayed

FINISHED!