DDEX

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## Basics

* *"DDEX is the first decentralized exchange built on Hydro Protocol technology, offering instant, real-time order matching with secure on-chain settlement.'*

## Oracle Method being used

* From this list curated by Linda Xie on Github (8-4-2020):

### *"Oracle Method*

*Uses on-chain price oracles to determine real-time USD prices. These price oracles are different for each market (example: the ETH-DAI market will use the MakerDAO ETH-USD price oracle), chosen based on stability. They have several safety mechanisms built into the price determination process to guard against oracle failures: both on a contract level and algorithmically.*

*USDC references Coinbase prices, with safety checks, outlier detection, and expiration time built into their onchain proxy.*

*There are sanity bounds placed on the price of DAI, currently set to 0.95 and 1.05*

### *Contract Addresses*

* *DAI: 0xe6f148448b61339a59eF6aB9ab7378E9200FA745*

### *Source*

* *https://medium.com/hydro-protocol/ddex-faq-margin-trading-bd4b32beb9f*
* *https://medium.com/ddex/reflecting-on-ddex-in-the-age-of-flash-loans-ee55410e0974*
* *https://samczsun.com/taking-undercollateralized-loans-for-fun-and-for-profit"*

## Governance

* From DeFi Watch (9-3-2020):

*"DDEX's protocol is upgradeable via an admin key with a 3-day timelock and 2-of-3 multisig. The admin key is capable of making changes to critical parts of the smart contract ecosystem."*

## Audits

### Admin Key OpSec Risk Assessment

* The following information comes from a spreadsheet (4-2-2020) created by Chris Blec.

*"Current Admin Key Config- Time Lock: 3 Days*

*Current Admin Key Config- Multisig: 2-of-3*

*Claimed Admin Key OpSec: None*

*Verified Admin Key OpSec: Unverifiable*

*Is security of deposited funds dependent on opsec of admin key?: Yes*

*Admin Key Address: Link*

*Documentation on Admin Key Powers: None Found*

*Additional Info (if any)?"*

* Scored a 40% on DeFi Safety (5-1-2021); *"Since the V2 contract addresses are unknown (first question), the audit score goes to 0. Peckshield Preformed an audit on the 21st of August, 2019. DDex was launched March 11, 2019 according to their GitHub.​"*
* With the comment (6-1-2021): *"Should be 79% but they have not published the V2 smart contract addresses. We asked the devs, and we waited since Dec 14. We will update, when they publish."*

## DeFi Score

* ConsenSys Codefi released (9-2019) a scoring website for DeFi projects. As of 4-11-2019 it has also analysed DDEX:

"*DDEX provides a code audit report but has not performed formal verification. While DDEX has just launched in the last month, they have low to moderate liquidity and a moderate to high collateral index score."*

## Partnerships

* Part of the WBTC community (still as of 8-2019)
* Has a partnership (as of 9-2019) with Dforce and its USDx project