Dex223

Dex223: a decentralized exchange for ERC-223 and ERC-20 tokens

Dex223 is a decentralized exchange (DEX) on Ethereum built around the ERC-223 token standard. It lets users trade both ERC-223 and ERC-20 tokens, and it includes a converter that wraps any ERC-20 token as ERC-223 and back. The project is led by Dexaran, the author of ERC-223 and founder of Ethereum Commonwealth and Callisto Network.

The exchange app is available at app.dex223.io on Ethereum mainnet. Several features are still on testnet or listed as coming soon, so check the current status of each feature before using it with real funds.

What it is

Most Ethereum tokens follow ERC-20, which uses an approve-then-transfer pattern. A known weakness of ERC-20 is that tokens sent directly to a contract that cannot handle them can be lost permanently. ERC-223 changes the transfer model so a receiving contract is notified and can reject tokens it does not support, which behaves more like sending ether. EIP-223 has Final status in the Ethereum improvement process, although adoption is still limited and it is not backward compatible with ERC-20.

Dex223 is designed so that an ERC-20 token and its ERC-223 version can share liquidity, rather than splitting trading between two separate pools.

Key features

• Swaps: trade ERC-20 and ERC-223 tokens from your own wallet. ERC-223 swaps do not need a separate token approval step. The project reports roughly 15% lower gas for ERC-223 swaps than for equivalent ERC-20 swaps.
• Pools: liquidity providers can add tokens to pools and earn trading fees.
• Token converter: the converter wraps an ERC-20 token as ERC-223 and unwraps it again. It is based on ERC-7417, a proposal that is still in Review status.
• Permissionless listing: an auto-listing contract lets anyone list a token without asking the team.
• Margin trading: an "encapsulated" margin trading design, where lenders set terms and collateral rules without relying on external price oracles. At the time of writing it runs on the Sepolia test app only, and mainnet margin trading and its audit are listed as future milestones.
• Borrow and lend: shown in the app as coming soon.

The D223 token

D223 is the project's ERC-223 token on Ethereum, with a maximum supply of 8 billion. The project says token holders are meant to share in trading and listing fees and to vote on platform settings such as fees and listing rules, with some of these functions still rolling out. D223 was sold in presale and public sale rounds from late 2023 through 2024, and BitMart announced a D223 listing in January 2025. No public sale is currently running. This listing does not recommend buying or holding D223.

Supported networks and Vaulta

Dex223 is live on Ethereum mainnet. The project has named Avalanche, BSC, EOS EVM (now Vaulta EVM), Celo, Base, Optimism, and Arbitrum as planned deployment targets, and says the plan may change. We could not confirm live liquidity on any chain other than Ethereum. Vaulta users should note that the public Vaulta EVM endpoints did not resolve when this listing was checked, so a Vaulta EVM deployment should not be assumed.

Security

• Self-custody: you trade from your own wallet, and no KYC is required to use the contracts.
• Audits: the project describes its contracts as audited, but we did not find a published external audit report. The roadmap lists internal and external audits, and a separate margin module audit is still pending.
• Early-stage risk: liquidity is thin compared with large DEXs. Thin liquidity means higher price impact and a greater chance of failed or costly trades.
• Token risk: anyone can list a token, so a token appearing on Dex223 says nothing about its quality. Verify contract addresses yourself.

How to get started

• Install an Ethereum wallet such as MetaMask and fund it with ETH for gas.
• Open app.dex223.io, confirm you are on Ethereum mainnet, and connect your wallet.
• Choose the tokens to swap, review the price impact and gas, and confirm.
• To try margin trading or other test features, use the separate test app on Sepolia with free test tokens.

Pros and cons

Pros

• One of the few DEXs built natively for ERC-223.
• Converter and shared liquidity between ERC-20 and ERC-223 versions.
• Permissionless listing and self-custodial trading.

Cons

• Low liquidity and an early, partly testnet feature set.
• No published external audit report found.
• ERC-223 has limited wallet and tooling support.
• Multichain plans have slipped and are not yet confirmed.

FAQ

Is ERC-223 an official Ethereum standard?

Yes. EIP-223 has Final status, though it is far less widely used than ERC-20.

Is the D223 token sale still open?

No public sale is currently running. Earlier presale and public rounds ran in 2023 and 2024.

Is margin trading live?

Only on the Sepolia testnet at the time of writing.

Sources: Dex223 website, EIP-223, ethereum.org on ERC-223.

Disclosure: BlockzHub has previously disclosed receiving financial incentives for educating the Dex223 community about the ERC-223 standard. The Dex223 website also lists Randall Roland, an editor of BlockzHub articles, as a co-founder and strategic advisor of Dex223.

This listing is informational and is not financial advice. Please exercise caution. BlockzHub does not assume responsibility for any problems, damages, or losses that may result from using the services described here.