DeGate Ecosystem Update
Welcome to DeGate May Ecosystem Update! We are building an Ethereum Layer 2 Decentralized Exchange that will operate with L1- L2 DeGate Asset Bridge and provide comprehensive DEX trading modules.
We are excited to update you on what we have been up to in May.
Product & Tech Update
This month the team at DeGate has focused on product development and design. The original development roadmap was adjusted to prioritize the development and launch of order-book trading, which involves zero-knowledge technology to improve the experience and lower costs. We believe that order-book trading is a very exciting and innovative goal for Layer 2.
We have progressed on the research of the order matching mechanism using ZK-proof technologies, discussed the order-book requirements, and achieved preliminary consensus on the implementation details of the order-book trading module. Prototype designing has been started.
We have achieved a deeper understanding of Ethereum Layer 2 networks including Arbitrum, Optimism, and zkSync.
The DeGate L1-L2 Asset Bridge testnet has been running between Kovan and Arbitrum testnets for around a month and we have prepared for Bridge deployment on mainnet, targeting weeks after the Arbitrum mainnet goes live.
We have been working on DeGate Bridge Liquidity Pool, identifying the requirements and improving the UI design. The features will be ready within few weeks.
Last but not least, the DeGate team has been working on designing the fiat on/off-ramp module, which will enable smooth interaction between fiat and Ethereum Layer 2. We expect this to be a popular feature of DeGate!
DeGate has refined its Discord channel and invites the community to join the discussions about DeGate, Layer 2, DEX trading, and Ethereum scalability developments. Join Discord discussions HERE!
DeGate aims to be the protocol of the community, for the community, and by the community. DeGate is governed by a DAO and the DeGate community members will be able to participate in the governance process and receive financial rewards.
DG token holders will have the following opportunities:
- Voting rights- DG token will act as a voting power
- Benefit from protocol development
- Staking rewards- DG token will reward for staking
- Airdrop rewards- DG token will be used for other projects’ airdrops
- Payments for services and products
- Through governance voting, DG token can be used in more scenarios
DG token is available to acquire on Uniswap in DG/USDC pair.
DeGate is being noticed by the crypto and DeFi- native community and starts getting exposure in the discussions about Ethereum scaling and Layer 2.
As the discussions about the Ethereum Layer 2 heat up, the DeGate team has prepared an overview about the topic, which was published by Hackernoon. Read ‘Ethereum’s Layer 2: Story so far and what to expect next’ HERE
DeGate stands out in the market by providing L1- L2 Asset Bridge, which stands out in the market by being more efficient, faster, and cheaper. A leading crypto publication, Globalcoinresearch, has published the comparison of the DeGate bridge with native Arbitrum and ZKsync bridges. Also, DeGate’s cross-rollup liquidity solution has caught interest. Read the articles:
- Globalcoinresearch, ‘An analysis of Ethereum Layer 2 Asset Bridge solutions: Arbitrum, zkSync, and DeGate Bridge’
- Globalcoinresearch, ‘DeGate- Cross rollup liquidity solution based on low slippage AMM algorithm’
Also, with front-running being a major issue of AMM- based Decentralized Exchanges, DeGate has provided analysis and suggestions of how to defend yourself against it. Read the article ‘An Analysis of Ethereum front running and its defense solutions’ HERE
DeGate x Bihu
DeGate is proud to bring you DeGate x Bihu, a series of premium content from top content creators. Bihu.com is a premier crypto community with over 1 million users, creating a deep analysis of the blockchain industry. In this fortnightly series, we bring you the very best articles from Bihu. Bihu was launched in 2018 by the same team behind DeGate.
DeGate will be publishing the top content from Bihu.com on the specially dedicated DeGate Medium section. Read the first article, ‘Why do people buy NFTs and how to choose the right ones?’ HERE
Right now, DeGate is focused on building the product and launching in phases. We look forward to the Arbitrum mainnet launch and will launch the DeGate L1- L2 Asset Bridge on the mainnet shortly afterward.
In the meantime, the team at DeGate is designing the order-book trading module for the Ethereum Layer 2 based Decentralized Exchange, which, we believe, will change the way we think about decentralized trading.
DeGate is Hiring!
Come and join DeGate! We are hiring for:
- Community Manager, Singapore or Remote
- Finance Manager, Singapore
- Researcher, Singapore/ Shanghai
- Product Manager, Singapore/ Shanghai
- Backend Service Engineer, Singapore/ Shanghai
- Web Front-end Engineer, Singapore/ Shanghai
- Senior Smart Contract Engineer, Singapore/ Shanghai
- DevOps Engineer, Singapore/ Shanghai
- Zero-knowledge Engineer, Singapore/Shanghai