This DEX makes use of Ethereum collateral sensible contract.
1)The primary dealer broadcast his BTC receiving tackle, worth for the commerce and ship collaterals (ETH) to the orderbook.
2) THe second dealer accepts this order from the orderbook and he sends bitcoin to the first dealer’s BTC tackle whereas submitting his personal ETH receiving tackle for his bitcoin.
3) The oracles-basically group of individuals with block explorers, see that the receiving tackle acquired the quantity of BTC required and confirmed the cost as legitimate.
4) The primary dealer sees it is legitimate and sends ETH to the second dealer ETH receiving tackle. Failure to take action will end in his collaterals being be despatched to the second dealer.
Mainly, a decentralized collateral system used as a deterrent if one in all them does not fulfill the transaction. Utterly decentralized DEX that can be utilized crosschain for any blockchain.