Open-source & white label Token Exchanges – comparison of options

Blockchain, DLT and crypto projects often require a token exchange to enable a functional ecosystem around some crypto asset.  

cryptocurrency exchange or a digital currency exchange (DCE) is a business that allows customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money or other digital currencies. – Wikipedia

For the projects of our customers we need to keep track of and recommend the exchange engines that best fit certain project requirements. Provided below is a comparison table that Dappros team has compiled. We appreciate any feedback or additions in the list – please use the comments section.

Figure 1: Screenshot from Coinbase Pro website. Crypto currency exchanges could be really comprehensive with spreads, limit and stop orders, API accessible order book, trading bots etc.
Figure 2: Screenshot from RubyKube website. In contrast, exchanges for isolated enterprise token ecosystems may look nothing like a currency exchange. UX will vary depending on project requirements. Modular customiseable architecture is a more important in such cases.   

Most of the projects we deal with are business / enterprise use cases that usually require private or hybrid permission-based blockchain networks. Tokens in these projects are not currencies and can only be traded or exchanged in a closed environment. This is why some of the core requirements for us is for crypto exchange to be:

  • open-source – we shall be able to access Github repo, deploy it and test it 
  • enterprise friendly license – it shall be under MIT, Apache 2.0 or other open-source or commercial license that is friendly to commercial close source projects
  • customisable – clear modular architecture, separate logic and user interface,  clearly documented data structures, commonly available technology stack
  • feature set – obviously we also look into feature set which shall cover all typical crypto token exchange requirements
  • maintainers team – it’s always important to try & understand who is behind the project as obviously it is better to pick projects that are there for long term

Following the above criteria we have compiled a list of exchanges that we consider in our projects and will keep updating this in future publications. 

Table 1: Open-source / customisation friendly exchanges 

Exchange project name License type Centralized / Decentralized Technology stack Team location Details
Peatio (peatio.tech) Open Source, MIT Centralized Ruby France – Support ERC20 Tokens – KYC Verification provided by Barong Github repository: https://github.com/peatio
RubyKube (https://rubykube.io/) Open Source, MIT Centralized Ruby France, (Team seems to be Ukrainian / Russian) Github repo: https://github.com/rubykube
etherex (etherex) Open Source, MIT Decentralized NodeJS USA, Delaware EtherEx is an open source, fully transparent, next generation decentralized exchange built on Ethereum.
OpenTrade (multicoins.org) Open Source, MIT Centralized NodeJS Russia Github Repository https://github.com/3s3s/opentrade
0x Protocol (0xproject.com) Open Source, Apache 2.0 Decentralized NodeJS USA, San Francisco   Added exchange functionality for ERC 20 tokens, ERC 721 tokens, or any new asset type.   Github repository: https://github.com/0xProject

For the benefit of open blockchain or hybrid projects who need to list tokens with  popular exchanges that are typically close sourced we also provide those options in the table below.

Table 2: Public / listing exchanges (closed source) 

Exchange project name Commercial terms, SDK license Centralized / Decentralized Technology Used Country Details / updates
Coinbase (coinbase.com) Bank purchase -> 1.49%   Credit/Debit Card -> 3.99 %   SDK: Apache-2.0 Centralized Ruby, NodeJS USA, San Francisco       Added security like store your funds in a vault with time delayed withdrawals.
Binance (binance.com) Eth -> 0.01  ETH   BTC -> 0.0005 BTC   More details: (https://www.binance.com/en/fee/schedule)   SDK: MIT Centralized API available in NodeJS, GO, PHP, Python Malta Binance Will List USD Coin (USDC) on 2018/11/17
cryptoBridge (crypto-bridge.org) Trading fee: 0.2%   SDK: MIT Decentralized Built on the Bitshares (BTS) platform USA, East Coast The weekly development update series will inform users about progress made on user-facing aspects of CryptoBridge 
api-changelly (changelly.com) Open-Source   API-Charge -> 0.5%   SDK: MIT Centralized NodeJS Malta, Valetta   24 hour statistics.

Where applicable we list type of software license for SDK (software development kit) of the exchange. While exchange itself may remain closed source and not open for customisation, some listing, trading and configuration features may be available via API access and there may be SDK provided with code samples that are helpful during project implementation and for future ecosystem development.

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