COSS UPDATE: 23rd October

Hello, everyone.

COSS, Crypto One Stop Solution, has been undergoing huge improvements in the past few months. In the last few days, we decided to pace ourselves and assess the next areas of development to ensure our deliveries remain consistent with our mission of improving user experience.

Development teams are already working on the next series of deployments and we will share updates as they happen.

In today’s update, we are going to discuss the following:

• New listings
• Delisting of pairs
• New blockchains
• API improvements
• Liquidity and trading
• Community project highlight

New listings:

A more stable trading platform with the best trading fees, a 0 deposit fee fiat service, and a referral programme in place now allows us to welcome new projects and users to COSS.

COSS held a community vote on Twitter to pick their next listings on 21st October 2019. The vote allowed not just the COSS community but communities of 0x Project, Augur, Celer Network and Matic Network to participate by showing support for their favourite projects.

MATIC of Matic Network and ZRX of 0x Project emerged as frontrunners. We listed and opened deposits for the tokens on 22nd October, 2019.

Trading will begin on 23rd October, 2019 at 19:30 GMT +8 on MATIC_ETH and ZRX_ETH pairs.

Withdrawals for MATIC and ZRX will remain closed for at least 2 days from commencement of trading.

Matic Network:

As explained in the whitepaper and introduction article on their blog, “the Matic Network aims to solve the problems faced by the blockchain ecosystem through building a decentralised platform using an adapted version of Plasma framework. This provides for fast and extremely low cost transactions with finality on a mainchain.”

“Matic Network is an ​off/side chain scaling solution for existing platforms to provide scalability and superior user experience to DApps/user functionalities.

Key Features & Highlights:

• Scalability: Fast, low-cost and secure transactions on Matic sidechains with finality achieved on mainchain and Ethereum as the first compatible Layer 1 basechain
• High Throughput: Achieved up to 10,000 TPS on a single sidechain on internal testnet; Multiple chains to be added for horizontal scaling
• User Experience: Smooth UX and developer abstraction from mainchain to Matic chain; native mobile apps and SDK with WalletConnect support
• Security: Matic chain operators are themselves stakers in the PoS system
• Public Sidechains: Matic sidechains are public in nature (vs. individual DApp chains), permissionless and capable of supporting multiple protocols”

0x:

As explained in the project’s official documentation, “0x is a protocol that facilitates the peer-to-peer exchange of Ethereum-based assets. The protocol serves as an open standard and common building block for any developer needing exchange functionality.

0x provides secure smart contracts that are externally audited; developer tools tailored to the 0x ecosystem; and open access to a pool of shared liquidity. Developers can integrate with 0x at the smart contract or application layer.”

Popular trading platforms such as dYdX, Radar Relay, Gods Unchained and many more are built using the 0x protocol.

Delisting of pairs:

In our update on 21st August, we had announced the removal of a large number of trading pairs on the COSS platform.

We have reviewed the current trading pairs on COSS again and have decided to delist a few of them. Most assets have several pairs listed with low to no activity on some. No assets are being delisted, only inactive trading pairs.

The following 61 pairs will no longer be available for trading on COSS from today:

AGI_ETH, AGI_USDT, ARK_ETH, ARK_USDT

BAT_BTC, BAT_USDT, BCH_ETH, BLZ_BTC, BWT_BTC

CVC_BTC

DRGN_BTC, DRGN_USDT

ENJ_BTC, ENJ_USDT, ETHOS_BTC, ETHOS_USDT

GVT_BTC, GVT_USDT

ICX_BTC, ICX_USDT, IND_BTC, IND_USDT

KICK_BTC, KICK_USDT, KNC_BTC

LEO_USDT, LINK_USDT, LRC_BTC, LRC_USDT, LSK_ETH, LSK_USDT, LTO_BTC, LTO_USDT

MANA_USDT, MCO_BTC, MCO_USDT, MKR_BTC, MKR_COS, MKR_USDT, MORE_BTC

NPXS_BTC, NPXSXEM_BTC

OMG_BTC, OMG_USDT

POE_BTC, PRSN_BTC

QNT_BTC, QNT_USDT

REQ_BTC

SNM_BTC, STORJ_BTC, STORJ_USDT, SUB_USDT, SURE_ETH

UBT_BTC, UBT_USDT

WAVES_USDT, WISH_ETH

XLM_USDT, XNK_BTC

ZEN_ETH

New blockchains:

We are in the final days of setting up and testing two important additions to the COSS trading platform.

• GAS distribution for NEO holders which will allow them to receive and trade the token on COSS
• Binance Chain integration which will enable trading of BNB and also allow addition of BEP2 tokens on COSS

An update will be shared closer to launch with more details.

API improvements:

Over the past few days, we have been assessing feedback from COSS users regarding potential improvements to our API and its documentation.

While revamping the entire API will result in a v2 being created, it will require further planning and development.

For now, we will begin with making minor improvements to the existing APIs that should improve the trading experience. The same will be recorded in the changelog as and when it is deployed.

We will take utmost care to ensure existing strategies and trading via API remain unaffected during this process.

Another request from our API users has been improved documentation along with REF examples to make it easier for users to set up trading on COSS. This is already in progress and we shall update our existing documentation on api.coss.io/v1/spec once completed.

Liquidity and trading:

There has been a noticeable increase in trading activity on COSS in the past few days. This may be attributed to a few large traders signing up on our platform in addition to our existing traders trading more frequently by either market making, running arbitrage strategies and other things.

We are now adding more liquidity on a few pairs to begin with through an external partner.

This is to ensure that COSS becomes and remains the first choice to trade on some of the most popular pairs for you, and people you refer to COSS.

Community project highlight:

Julian, who goes by Br0ke138 on Telegram and GitHub, has been actively developing simple trading solutions for all COSS users.

One of the most recent releases by him is a simple market making bot designed specially for COSS users. It checks CoinMarketCap for the price of the pair you configure it on, and puts orders with specified spread and order sizes.

The open source market making bot is available for download on GitHub on https://github.com/Br0ke138/coss-simple-mm. The set up is fairly simple.

• Download the folder from GitHub
• Navigate to the config folder
• Configure the config.json file using any text editor such as Notepad or TextEdit by adding your API keys, specifying the pair you wish to run it on, and add the order size and spread.
• Configure the sources.json file by indicating where would you like to get the price reference from. In case of CoinMarketCap, you will need to add the ‘asset ID’ for each asset in your pair. Asset IDs can be found in the CMC_IDS.json file.
• Save the configurations.
• Launch Command Prompt on Windows or Terminal on Mac and follow the simple steps on https://github.com/Br0ke138/coss-simple-mm under ‘How To Use’

Beginners with little to no knowledge of coding can easily set up this simple market making bot on COSS. In case you need help, please reach out to the wonderful COSS community on https://t.me/COSSAPI where Julian and others are always present to extend support.

Every member of our community is valuable and indispensable. We continue to be grateful and motivated to work with them as we grow the COSS ecosystem.

That’s all for now. We shall be back with more updates.

You may expect to hear from us again, soon… :)

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