Dexalot’s Asset Balance Snapshot

Published by AVAX on

Dexalot is a dual-chain, non-custodial central order book DEX, powered by Avalanche’s subnet technology. The next stage in the development of Dexalot’s life cycle continues the release of software architecture, optimized for speed, safety and experience. Dexalot’s subnet launch will include a built-in asset balance snapshot (ABS) feature that creates an immutable snapshot proof of your asset balances.

This unique feature makes quick and easy verification of the asset balances for a user by periodically writing asset information on Dexalot subnet into a data structure called a Merkle Tree. Once written, the ABS is independent of the availability of the Dexalot subnet thus enhancing security. Recovery of the state of your assets on Avalanche mainnet C-chain is made possible with ABS should that be necessary for any reason. Experience and enjoy another trail blazing best-in-class innovation from Dexalot !

How to:

ABS provides:

  • Transparency of balances of assets interacting with Dexalot
  • Ability for anyone to confirm assets independently
  • Immutable time series data of asset balances for analysis if necessary

Here is a short video showing you how to connect your wallet and obtain the balance of any asset you own.

Own your ABS:

If you are interested in manually verifying your own asset balances you can use Merkletreejs ( a Javascript library). You can use this library to simplify the following steps:

  • Get the root of the balance merkle tree from IPFS.
  • Get the balance Merkle tree from S3.
  • Verify the root using the tree.
  • Verify your leaf hash using Solidity’s keccak256 algorithm from your leaf index, your wallet address, and your asset balance using the tree.
  • Verify the proofs for your leaf hash using the root and tree.
  • Validate your leaf hash using the immutable combination of root, proofs, and leaf using the tree.

Author: Brad McFall

Editor: Dan Marcoulis

Graphics: Can Toygar

About Dexalot:

Dexalot is a revolutionary decentralized exchange bringing the traditional centralized exchange look and feel to a decentralized on-chain application. Its mission is to bring a truly inclusive and transparent environment where Dexalot users can trade crypto securely and efficiently, with no slippage or custody risk. It is built on Avalanche, the fastest smart contracts platform in the blockchain industry.

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Dexalot’s Asset Balance Snapshot was originally published in Dexalot on Medium, where people are continuing the conversation by highlighting and responding to this story.


Categories: DEFI_NEWS