Obviously one can use Uniswap, Sushiswap, etc. to offer a means of exchanging ETH for new ERC 20 tokens but that approach means that developers have to supply potentially massive liquidity for the ETH/New Token pair and can also pocket the ETH sent by users by withdrawing liquidity from Uniswap. The kind of DEX described in the title would be helpful for new ERC 20 tokens where the developers just want to give their tokens value but don’t intend to pocket the sent ETH.
I’m about to launch an ERC 20 token and would like to use this approach of burning sent ETH and issuing corresponding amount of tokens. I can just add this functionality to the token contract but I think it’s a general enough need to be a standalone DEX.
I’ve looked around and couldn’t find a DEX for this need. Is someone building this? Did I miss one that already exists? Any suggested improvements to the idea?