Stakenet DEX.




General

"To tackle tomorrow's problems today"... that was a train of thought of the developers when they started Stakenet DEX. Because every blockchain will reach its limit at some point. Therefore, offchain solutions such as the Lightning Network for Bitcoin is set, which also exists for Litecoin and Stakenet. With this, the coins can be exchanged across blockchain without waiting time and at very low costs. For Ethereum, BSC & their tokens, the Connext Network is used to establish these cross-connections.


Notable features of the DEX

  • Atomic swaps are carried out off-chain
  • Trade with native assets. No wrapped tokens!
  • Each wallet is its own Lightning Node
  • "Taker pays maker"-Fee distribution
  • Data protection through off-chain trades
  • HFT: High-Frequency-Trading

An article that deals with the features of the DEX Stakenet’s vision: Part V — The Stakenet DEX


Roadmap for the decentralization of DEX

Portfolio

Process:

  1. Gaia: Currently we are in this phase. This means that the DEX is only running on individual servers. Access is limited to the team and members of the closed beta.
  2. Prometheus: In this phase, the DEX is accessible to all. First in the status "Open Beta", later as a release. The Hydra Smart Chain (HSC) is also implemented in this phase. This is needed so that the DEX can run on the individual master nodes. This will happen in the beginning with a few selected parties/persons.
  3. Hydra: The last step is to extend the entire DEX network so that each master node can operate as a DEX hub.



The wallet at a glance

Portfolio

A very common view with the coins and their balance onchain and offchain (marked with a ⚡️).

Portfolio

In the wallet view you can manage the layer 2 channels. Open (for can send credit), rent (for can receive credit), extend leased channels or close individual channels Backups of the channels.

Portfolio

SSUI - Simple Swap UI. If you don't want to deal with the management of the channels, you can carry out the trades relatively easily. Of course, it works just as well if you already have one or more channels open. The system recognizes the open or missing components and manages them.

Portfolio

The menu should remind you of the usual view. Currently you can choose between limit and market buy / sell. Limit orders are then placed in the order book. In the current version, the app and the selected pair must be open For placing orders, if another party fulfills them, you will receive part of the trading fees paid back!

Portfolio

You select the pair and determine with which amount you want to trade automatically. You can choose the risk (depth curve: how far you want to be away from the current ASK and BID). Then you start the bot and it then creates the purchases and sales based on the data in the order book. Here, too, you benefit from the " taker-pays-maker-fee ".

Portfolio

Much known. Not everything has been implemented yet. In a future version it will be possible to modify the UI and the language. At the moment, it is possible to control how the DEX behaves when you click on a folder private key (seed words) can also be controlled via the menu.





Features as video

A trade with the SSUI (Simple Swap UI)

As with the video before, ETH and BTC are swapped on the second layer. This time, however, with a simple click. All necessary requests are then carried out in the background (opening channels to receive or send the respective trade pairs and the order execution). Depending on the blockchain and the waiting for confirmation, this trade can take up to 20 minutes. The respective costs are displayed in the window after the Confirm click.

An ETH / BTC trade in the MCLW (Multi Currency Light Wallet)

You can see how a user (closed beta) exchanges Ethereum with Bitcoin in the second layer. Since the block time is not taken into account in layer 2, the execution time is very short. In addition, there are almost no network costs when trading. As a maker, you get even part of the trading fees. Voiced by Kuosumi.

AMM-UI

The AMM-UI in action. Vortex is started and this automatically sets buy and sell bids. This video was created by a community member from the closed beta.




WebDEX

The web version of DEX will only contain ETH and some ERC-20 tokens in the first release. You won't have to download any software for this and this version will also work on mobile devices.

The advantage of the Stakenet-Web-DEX compared to the well-known online versions is the shorter execution time and the very low network fees. There will only be 0.3% trading fees.

Some of the first pictures:

...

Selecting the trading pairs and the amount.

...

Further details about the trade such as price impact, trading fees and the confirmation button.


The use of the wallet at the known stand can also be seen in a video:

22. March 2021
Stakenet (XSN) - Stakenet DEX Web Interface Preview



Guides

Since the application is constantly changing, it is possible that some images or functions are already on a slightly different or newer status.

But these guides and instructions show you how the execution will look like:


Text Guide - 24. August 2020
gb
Stakenet DEX — Quick Start Guide

Video Guide - 25. August 2020
gb
Light Wallet and DEX Overview
Video Guide - 25. August 2020
gb
Light Wallet/DEX - Receiving Funds
Video Guide - 25. August 2020
gb
Light Wallet/DEX - Sending On-chain Transactions
Video Guide - 25. August 2020
gb
Light Wallet/DEX - Opening a Lightning Channel
Video Guide - 25. August 2020
gb
Light Wallet/DEX - How to Rent a Lightning Channel
Video Guide - 25. August 2020
gb
Light Wallet/DEX - Extending a Rental Channels Duration
Video Guide - 25. August 2020
gb
Light Wallet/DEX - How to Switch Active Currencies (LND)
Video Guide - 25. August 2020
gb
Light Wallet/DEX - Trading In The DEX
Video Guide - 25. August 2020
gb
Light Wallet/DEX - Updating Your Wallet
Video Guide - 25. August 2020
gb
Light Wallet/DEX - Obtaining Your Seed Phrase
Video Guide - 25. August 2020
gb
Light Wallet/DEX - Backing Up & Restoring Your Lightning Channels



FAQ

When will the DEX be released

Soon.