Permissionless Reserves on Easwap

We are happy to announce the release of Permissionless Orderbook Reserves on Easwap which we built on top of Kyber Network, a top 5 DEX on the Ethereum Blockchain. Users can now list any ERC20 tokens permissionless. Moreover, users can now make limit orders on these Permissionless Reserves.

So what opportunities will it bring?

1. List new ERC20 tokens on Kyber Network without requiring permissions from the Kyber team.
2. Anyone with assets worth at least $1000 can now create orders on Kyber Network.
3. Better Prices on Kyber Network.

How to list ERC20s?

1. Open the List section on Easwap - here.
2. Enter ERC20 address and click the “List” button.
3. You’ll have to sign 3 back to back transactions to list the ERC20.

Congrats you’ve listed the token. Yep! That’s all. It’s so easy. Right?

Note that the ERC20 token contract should also be verified on Etherscan as we take all the details of the ERC20 token from the Etherscan API.

How to create an order in the Orderbook Reserve?

1. Open the List section on Easwap - here.
2. Check the listed reserve section and select the ERC20 you want to create an order for. Let’s say you want to create a limit order in the DAI orderbook reserve.
3. Deposit DAI and/or ETH as well as KNC (for network fees).
4. Set the price for ETH to DAI or DAI to ETH or both.

And you’re done. You’ve successfully created your orderbook. After creating order users can also update their order in case of price change.

What are the incentives for anyone to create an orderbook?

1. They have the right to set price for their order. So, they can earn by setting a margin for themselves from both sides. i.e:- ETH -> ERC20 and ERC20 -> ETH.
2. Let’s say I want to swap 10 ETH for DAI and I’m not in urgent need for it. So I can create an orderbook from DAI to ETH by taking my margin. In this way, users can also do large trades with the best rates.

How users will be updated with their orders?

We’re working on telegram bot which will update every manager's order book details, assets remaining, current best price on kyber network, etc every 15 min to keep managers updated with their orders.

Easwap is the easiest way to swap ETH and ERC20s. #BUIDL on top of Kyber Network. A Product by team “InstaDApp”.

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