We build both models. They differ enormously in engineering, cost and legal exposure, and choosing wrong means rebuilding — so we start by assessing which one actually fits.
DEX versus CEX
DEX — driven entirely by smart contracts
Users trade from their own wallets without depositing anything. Prices come from a formula over a liquidity pool, the AMM model used by PancakeSwap and Uniswap. The operator never holds user funds.
The upside is far lower regulatory exposure, a faster launch, and no custody infrastructure. The downside is that users need an existing crypto wallet, and someone has to supply liquidity before trading is possible at all.
CEX — a full back office
Users deposit into the platform and trade through an order book that matches buy and sell orders. The experience resembles a stock exchange and works for mainstream users who have no wallet.
The trade-off is that you are holding other people money. That demands serious security, hot and cold wallet separation, internal controls, and in Thailand a digital asset exchange licence from the SEC before operating.
What we build
For a DEX
- Liquidity pool and swap contracts on the AMM model
- Liquidity provision and withdrawal with fee sharing for providers
- Trading interface connected via MetaMask and WalletConnect
- Price charts, trade history and slippage controls
- Farming and staking for liquidity providers
- Admin controls for fees and trading pairs
For a CEX
- Matching engine supporting limit, market and stop orders
- Deposit and withdrawal with hot and cold wallet separation and multi-level approval
- Accounts, identity verification and two-factor authentication
- Trading screen with charts, market depth and order history
- Admin back office for users, pairs, fees and transaction review
- Full activity logging for audit
On licensing
Operating a centralised digital asset exchange in Thailand requires an SEC licence, with requirements covering registered capital, operational systems and custody of client assets. We can build the system, but we are not legal advisors and cannot obtain a licence on your behalf. Seek specialist legal advice before starting. A DEX that never holds user funds sits differently, but should still be assessed case by case.
How we work
- Model assessmentGoals, user base and regulatory readiness, to choose between DEX and CEX.
- System designTrading pairs, fee structure, liquidity or order book handling, and asset custody.
- Core developmentAMM contracts for a DEX, or matching engine and custody flows for a CEX.
- Interface and back officeA responsive trading screen, price charts, and admin tooling.
- Security review and load testingCode review plus verification that concurrent order volume holds up.
- Launch and operationsGo live with monitoring and an incident response plan.
Frequently asked questions
Should we start with a DEX or a CEX?
Without a licence and with a need to move quickly, a DEX is far more suitable — no custody and a much shorter path to launch. A CEX makes sense when your audience are mainstream users without wallets and the organisation is ready for the legal and security burden.
How much liquidity does a DEX need?
It depends on pair count and desired depth. Pools that are too thin swing on small trades and nobody wants to use them. We size it against your budget and planned pairs, and design incentives so others contribute liquidity too.
How long does development take?
A DEX with a complete feature set takes roughly six to ten weeks. A CEX takes considerably longer because of deposits, custody, security and the back office — typically several months.
Which chains are supported?
Our DEX builds run on any EVM-compatible network — Ethereum, BNB Chain, Polygon, Arbitrum — including private chains we have built. A CEX can support many chains at once because deposits are handled server side.
How do you protect against attacks?
For a DEX, contract review before launch and design that resists flash-loan price manipulation. For a CEX, hot and cold wallet separation, caps on funds held online, multi-level withdrawal approval, and monitoring for abnormal behaviour.
Does DEX development include the liquidity pool?
Yes. A DEX build covers pool contracts, liquidity provision and withdrawal, fee sharing for providers, and the trading interface with wallet connection, plus admin tooling for trading pairs.
Talk to us before you commit
Tell us what you are trying to solve. Our solution architects reply within 24 hours with an initial scope and approach, at no cost. If we think what you are asking for is not worth building, we will say so.