Launching our 5th and final testnet
Now sporting a DEX, centralized fees and lots of bugfixes
With our latest testnet launching this Sunday evening, we were grateful and humbled to see that 25 dedicated validators had joined by Monday evening. We are very happy to see our validator community grow organically during our testnets.
Lilmermaid-5 contains a number of new features, bugfixes and general improvements.
Let’s start with the biggest addition: the built-in market (DEX). It is designed from the ground up to support our use-case of currency-backed tokens:
- No listing requirements. Any token can be immediately traded, including those transferable via IBC.
- No execution fees. Only transaction costs are paid.
- Sophisticated order matching allows a single order to trade through multiple instruments. This ensures trades always occur at the best possible price.
- Optimized for liquidity. A single token balance can be sold in multiple orders, with remaining orders being automatically adjusted on execution.
While we expect wallets to integrate simple market functionality down the line, it still lacks a fancy web UI. Get in touch if you would like to help us work on this (grants available).
Call for market makers
A key component of any market is liquidity. While anyone is free to provide liquidity, we are happy to announce we have already onboarded our first dedicated liquidity provider under our grant programme. We encourage potential liquidity providers to contact us at partners@e-money.com to hear about our incentive structure.
Centralized Fees
Fees are now configured network-wide in order to ensure a smooth and predictable user experience.
Fees can be paid in any of our currency-backed tokens. As the prices are set network-wide, users benefit from their transactions always getting into the next available block.
Since prices are also known beforehand, they can avoid overspending.
Shoutout to our community
The validator sets of lilmermaid-5 and our mainnet are capped at 30 slots. We are confident that they will be filled with high quality validators that have demonstrated their capabilities on chains across the ecosystem.
Goodbye, lilmermaid-4
The time has also come to say goodbye and thanks for all the fish to lilmermid-4. You let us strengthen our validator community, provided us with confidence in the stability of the chain and allowed us to test its capacity in a performance test.
Coming up next is an article outlining our road towards mainnet launch.
