Link Exchange Program

I was searching for a free and good open source link exchange software that should be rich in functionality and easily customizable to suit your website looks. But I did not find any on the internet although there are lots of such programs but all are propriatry and charge fees.

So it will be good idea to start working on such system that will keep its up to date with current developments in web industry and provide every functionality in a easy to use manner.

If there is such a software already running or in progress. Then please post that on this website.