Stakenet: 2021 Recap
Welcome to this short recap of Stakenet’s 2021! As we want to focus on the very important highlights, there will only be one selected item per month.
January: Bitfinex Listing
The new year started with a big bang: We were extremely proud to announce that XSN got listed on Bitfinex, as one of our first Tier 1 exchange listings.
To celebrate our first Tier 1 exchange listing we had a daily XSN giveaway along with a Superdraw in the run-up to the 19th Jan when trading went live.
Read more here: https://medium.com/stakenet/stakenet-dex-usecase-strategy-overview-162f844651a4
February: Strategy and Usecase
In February we took a broader look at the Stakenet DEX: it has been precisely designed for high-frequency bot trading, and it’s coupled with a decentralized, lightning-speed, almost feeless (no blockchain transaction fees on Lightning or Connext) exchange built on Layer 2 — a solution which is urgently needed.
Read more here: https://medium.com/stakenet/stakenet-dex-usecase-strategy-overview-162f844651a4
March: Lightning series
As we drew closer to the public launch of the Stakenet DEX, we had planned a short series of articles highlighting the various types of cryptocurrency exchanges with their advantages and disadvantages and finalizing with a summary of new developments in this area.
Thanks again to all the community members who made this 6 part series possible. Read the first part here: https://medium.com/stakenet/stakenets-vision-part-i-dex-vs-cex-158467acb532
April: Explorer 2.0
In April we had released our new and updated explorer 2.0! This new version includes:
- A brand new UI
- Display showing MN and Staking ROI
- Display of total locked XSN
- Transacted volume / block
- Many more features
May: AMM UI
We have successfully added the AMM UI (automated marker maker UI) to closed beta! Users can simply put some funds into a trading algorithm and adjust the risk/reward with a slider. This increases the liquidity & as it is UI-based, every user can commit liquidity (similar to Uniswap) without needing technical knowledge or using a command line. Our AMM will work off-chain and is orderbook-based. This enables to execute the“taker pays maker” fee model directly.
The resulting advantages are:
- everyone can participate
- more liquidity
- more volume
- low fees for MM
- instant and private transactions
Read more here: https://medium.com/stakenet/stakenet-dex-amm-ui-e959c864f7db
June: The Hydra Smart Chain
We published the first public update about the Hydra Smart Chain, including the public repositories. See here for more details:
What we have achieved:
- HYDRA NET (smart chain testnet launch)
- Permissionless whitelist to qualify HSC validators
- Staking smart contract (to manage validator rewards)
Current internal development:
- HYDRA Gov
- CPU challenges
- L2 liquidity pools
- HYDRA Explorer
July: Stakenet WEB DEX
Closed beta started testing the WEB UI in late July and is currently being further refined. It’s important to note that our current focus for both devs and tests is debugging BTC/ETH swaps within our Stakenet DEX (desktop app). See a screenshot of the live UI here:
August: First ETH BTC Swaps at Stakenet DEX
The first trades have been executed in the closed beta of our Layer 2 BTC <> ETH pair! Decentralized, cross-chain non-custodial in seconds and almost feeless! Combining Lightning Network (BTC) and Connext Network (ETH & other EVM blockchains) state channels is progressing a new era of decentralized trading. See the live swaps here:
September: Off The Chain (Podcast)
Our team member JoPark has started a podcast format, in which he talks in a bi-weekly recap about Bitcoin, off-chain networks like Lightning & Connext Network, and also discuss Stakenet DEX news.
We have released the first two episodes here:
Episode 1: https://spoti.fi/38MsIyf
Episode 2: https://spoti.fi/2XR52qL
RSS (for e.g. Apple Podcasts): https://anchor.fm/s/6a81d458/podcast/rss
October: Hydra Chain: Governance UI (v1)
A V1 demo of our hydra governance went live in October 2021. If anyone wants to give the contract a try, please send a direct message to Jo Park on Discord. See for more info here: https://github.com/X9Developers/hydra-governance
We are also actively working with partners on the Arbitrum side to prepare for the launch of the new chain. We will post more updates on that as we progress. The next steps are to test, refine the UI, add staking and protocol-owned liquidity into the contract.
November: Youtube Livestream
Thanks to over 200 XSN community members who joined our Livestream of Stakenet DEX!
Check the video out here, including a live AMA, live demo of the wallet and DEX tabs, swaps, channel openings, and more:
December: DEX Beta Release
In December we were happy to release Stakenet DEX — a DEX with a built-in wallet, off-chain ramp, and Lightning support!
The Stakenet DEX is a Layer 3 cross-chain DEX that utilizes Layer 2 protocols (Lightning Network and Connext) to allow low-fee, trustless, cross-chain swaps between BTC, ETH, and additional altcoins all on one platform. Stakenet DEX will run on Hydra-net, a Masternode-powered Network.
That's it — so far! In the next weeks we will have updates of Stakenet DEX, the Bridge Aggregator, the Roadmap, and more, so stay tuned!
