Polkadex
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Polkadex

Polkadex Mainnet Launch 101

Polkadex’s layers of complexity are just another way in which it stands out from other DeFi projects. Find out what exactly Mainnet Launch means for Polkadex and what to expect in the next few months in this article.

What does this mean?

It means there are currently six synergetic components of Polkadex which are all being developed simultaneously by different engineering teams:

  1. PDEX token
  2. PDEX bridges
  3. Polkadex Orderbook
  4. PolkaIDO
  5. Polkapool
  1. Deployment of the code to the Testnet
  2. Auditing of the code while it is deployed on the Testnet
  3. Release on the Mainnet

So, what exactly does the ‘Mainnet launch’ mean for Polkadex?

When we talk about the Mainnet launch, we are referring to the launch of the Polkadex blockchain, as the first step. When the Polkadex blockchain is deployed and once it is secured by enough validators and nominators, other components of the Polkadex project will be rolled out onto the blockchain in their own Mainnet launches.

Okay, so when is the Mainnet scheduled to launch?

The Polkadex roadmap sets out the targets and timelines the team aims to follow during development. Since the conception of the roadmap, the Polkadex mainnet has been scheduled for a Q3-Q4 2021 launch. The team has remained on track to meet the roadmap goals and the mainnet will launch in or before the end of September 2021.

What comes after the Mainnet launch?

Immediately after the Mainnet launch, the first action will be to trigger the migration of PDEX from Ethereum to the Polkadex network. This will turn the PDEX ERC-20 token into the native token of the Polkadex network.

Polkadex roll-out schedule

Every component strictly follows the phases listed above. While exact dates are not available yet, the remaining components, including Polkadex Orderbook, Polkapool, and PolkaIDO will be gradually rolled out onto the mainnet in the following order starting in September:

  • PolkaIDO

Why can’t everything be launched at once like on the Ethereum network?

It is important to note the difference between building a project on Substrate versus building it on Ethereum. After all, the product that we are launching aims to remedy the issues of Ethereum-based DApps, so the tech stack and approach must differ. DeFi projects can simply develop a smart contract and deploy it on the Ethereum blockchain, which has been live and ‘stable’ for years. In Polkadex’s case, not only are there multiple DApps being built, but the blockchain they are being built on is new and specific to those apps. This makes Polkadex exponentially more complex than the average Ethereum DApp, which means it also requires more thorough auditing and development. The complexity of Polkadex also makes a stronger case for a gradual roll-out of applications on top of the Polkadex network as the more advanced DApps, like Polkadex Orderbook, will require a more stable blockchain to operate on. For these reasons, it is unfair to compare the development of Polkadex to the development of a DApp on the Ethereum blockchain.

Difference between Polkadex and other Substrate-based projects

Unfair comparisons are also drawn to other Substrate-based projects with single-purpose logic blockchains. Many Substrate-based projects are just built with one purpose, whereas Polkadex is addressing at least three different markets and improving upon existing competitors with three different products. Again, the level of complexity and the amount of moving parts that are set to work together on Polkadex is unprecedented.

The role of PDEX

PDEX is a key piece of the puzzle. A consolidated supply of PDEX is crucial in order for Polkadex to have a healthy network of validators and thus, a secure blockchain. In other words, the utility of PDEX starts with securing the blockchain as soon as it is migrated over from Ethereum. After the Mainnet launch, PDEX will gain utility immediately as part of securing the network, and with every application added to the Polkadex network.

Have there been delays? Will there be?

The Polkadex team’s mindset is that of ensuring that every product we launch has to be as flawless as possible, even if that means incurring delays. This does not mean delays are guaranteed. What this does mean is that taking the extra time if needed will be prioritized over buggy releases. Therefore, if there is ever a delay with any component, it will be for the good of the product and the project, and ergo, its users.

Audit

The Polkadex team is adamant about building the best possible product and thus will not settle for a rushed or sloppy audit. For this reason, only top auditing companies are working on approving the Polkadex code. These auditing companies are extremely busy and have long pipelines. This, combined with the complexity of Polkadex’s components, might mean that some components may take longer to be fully audited and thus released onto the Mainnet. With that said, each component of Polkadex from code to DApps is currently either audited or scheduled to be audited at the earliest available date.

What about the Testnet?

The ‘Testnet’ is a version of the Polkadex network that contains simulation assets and exists as a testing and experimentation space that does not put the Mainnet at risk. Within the next week, a new version of the Testnet with BABE (Blind Assignment for Blockchain Extension) consensus will be launched with instructions and guidelines on how to get hands-on with the code. This version will allow anybody to play around in the Polkadex Testnet staging network and, as mentioned above, will not be integrated with the frontend user interface just yet.

Trailblazing

Taking a step back, it is important to realize that Polkadex is not simply a copy-paste smart contract with a rebrand. That would be too easy to build. The Polkadex team is building things that have never been built before. We are blazing our own path without cutting corners. The journey might take a bit longer but the end result will make the extra effort all the more worth it.

Follow our official accounts to see what we are up to and join the community to stay in touch with the team:

Website| Twitter| TG Chat| TG Announcements| Medium| Youtube|Reddit| Discord|Linkedin

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