Sesameseed Creates the First Exchange on the Ontology Network
Introductory Event
Sesameseed is proud to announce the beta launch of the first community-powered decentralized exchange on the Ontology blockchain. During the introductory beta event, the SEED Exchange will be free of trading fees. (Ontology network fee will still apply.) The exchange is self-regulating and governed by the Ontology blockchain.
Own your keys, own your crypto.
Using decentralized exchanges promotes a healthy ecosystem through direct participation with the blockchain. There is no need to send tokens to a centralized exchange, pay high transaction or withdrawal fees to convert tokens through an intermediary, or lose control of ownership of assets to be traded. Transactions using the instant liquidity SEED Exchange / Ontology DEX are on-chain and the funds are directly deposited into your address. A Cyano Wallet is required for trading.
Direct Pairings Available
The exchange will launch with pairings of ONT/ONG, ONG/SEED, and ONT/SEED, with more pairs available in the near future to empower token holders on the Ontology network. Everyone is invited to interact with the exchange and encouraged to provide valuable feedback for it as well.
Low Fees
The SEED Exchange will have two fees for each trade. The total of all fees should still be lower than trading with most centralized exchanges.
The SEED Exchange has two fees. The first is the Ontology network fee. All on-chain transactions on the Ontology network use ONG to conduct a transaction. This network fee is determined by the Ontology network and is what triggers the on-chain smart contract that governs this exchange. The user must have enough ONG in their Cyano Wallet to cover this fee or the trade will not execute. The network fee is approximately .02 ONG, but it can range between .01 ONG and .03 ONG.
The second is the trading fee. This fee can change and the current fee will be displayed on the exchange page above the “Buy” or “Sell” button. During the introductory period, this fee will be set to 0%.
Since becoming a node operator on Ontology, Sesameseed has lead the way in development on the Ontology Network. Sesameseed introduced its multi-chain rewards token SEED, their multi-chain social media tipping bot Seedit, and enabled daily staking rewards on the Ontology network for staking with any amount of ONT. Staking with as little as 1 ONT is available via the Sesameseed voting management Dapp in Owallet v.0.9.15 or higher or using the Chrome plugin Cyano Wallet.
This project is available to be publicly viewed on Sesameseed’s Github .
Try it now at https://exchange.sesameseed.org
Learn how to use the desktop version of the Ontology DEX by Sesameseed using the walkthrough linked below.
Learn how to use the ONTO integrated version of the Ontology DEX by Sesameseed using the walkthrough linked below.
For more information or to provide feedback, please visit Sesameseed on Telegram.
Note: It is strongly advised to read the detailed instructions on how to use the exchange before attempting any trades. These instructions, and answers to frequently asked questions can be found in the link at the bottom of the exchange website.
To view the SEED tokens you buy and sell in your wallet, you will need to add the token hash in the OEP-4 token field. The SEED token hash is: 78b98deed62aa708eaf6de85843734ecdfb14c1b.
*Disclaimer: Due to the volatile nature of digital assets, Sesameseed strongly recommends proper due diligence by each participant before completing any transactions. Please read the complete legal disclaimer on the website.
