MyTrade officially launched on HPB MainNet!
On 30 Dec 2020, the decentralized exchange (DEX) MyTrade was officially launched on HPB Mainnet and released its Alpha version. After intense product development and small-scale invited community user testing, MyTrade opened Alpha product to the HPB community. MyTrade is the first decentralized exchange in the HPB DApp ecosystem, which is dedicated to value exchange of digital assets.
MyTrade is the first decentralized exchange based on the HPB MainNet, which is developed by the technical team in the HPB community. Nowadays, there are two types of DEX: DEX based on order book and DEX based on liquidity pool(AMM). However, when users were using these decentralized exchanges, they also discovered a very disappointing problem: decentralization comes at the cost of usability. After comparing and analyzing the existing order book and liquidity pool decentralized exchanges, the MyTrade team innovatively combines the advantages of the two by integrating order book and AMM (automated market maker) exchange mechanism. By doing so, MyTrade can provide high-performance matching in liquidity, as well as simple and user friendly experience!
In addition to the innovation in building a high-performance decentralized exchange, MyTrade is built on the High Performance Blockchain (HPB), which gives MyTrade a high transaction speed, lower gas fee, and security. Regarding the choice of HPB for this DEX, MyTrade team mentioned that, although Ethereum still has the largest decentralized application ecosystem, Ethereum’s high transaction fee and network congestion issues hinder the long-term development of DApps. Thus, they hope to find a high performance blockchain with lower transaction cost. Meanwhile, the algorithms of MyTrade are much more complicated, and the transaction fee for users would be much higher if deployed on Ethereum. Based on the above considerations, MyTrade team chose the HPB MainNet, a hardware-accelerated permissionless blockchain. For an innovative DApp start-up project like this DEX, HPB greatly lowers the team’s innovation cost while improving the user experience.
“As the first DEX built on HPB MainNet, MyTrade is dedicated to building a lower cost and user friendly DEX for secure value exchange. MyTrade team will keep promoting its technical innovation in the liquidity pool, lower transaction fee, and automated market algorithms!” — MyTrade Team
The Alpha version of MyTrade currently runs on a desktop computer with MetaMask wallet login. A version for mobile phones will be added later. Please install the Chrome version of MetaMask wallet in advance.
Download MetaMask wallet here：https://metamask.io/download.html
Find MyTrade User Guide here：https://docs.google.com/document/d/e/2PACX-1vSJCpSrO-3rqd1iWGk_N5dkQeS20v4htV6lej6D1n7xCtGS4tfmaFgQ2i1JvX7gwnMuZzZb1CX3aZAM/pub
The Alpha version of MyTrade is suitable for senior DEX users, while DEX beginners may find it difficult to use. MyTrade team will improve the user experience in the coming versions, which will lower the entry level for users.
About MyTrade
MyTrade is the first decentralized exchange based on the HPB MainNet, aiming to inherit the superior user experience of centralized exchanges, innovatively integrate order book and liquidity pool with high-performance matching in liquidity! For more information, please visit the official website of MyTrade: https://mytrade.org
About HPB
High Performance Blockchain (HPB) is a revolutionary permissionless blockchain architecture that combines HPB’s customized hardware Blockchain Offload Engine (BOE), with high-performance blockchain software, enabling unrivaled scalability.
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