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Stakenet

XSN-Core Dev Update July 12 2020

SUMMARY

We have had a great month of development progress as we executed our first community DEX beta tests which resulted in success as over 50+testers were on boarded with no significant errors hit. Our team is proud to have stabilized the technology behind our P2P Lightning DEX swaps, successfully showcased them to our community and now are able to look ahead to next developments. The first and foremost being the integration of Raiden, Ethereum’s off chain client into our ecosystem. Updates on this and more below

DEV UPDATES

Aggregator partners have connected with external exchanges

  • Verified API’s behaving properly, handling requests from both external exchanges + DEX
  • Confirmed Stakenet DEX has the ability to support third party arbitrage/ liquidity

We have proven not only that we can launch with initial liquidity, but confirmed ARB taking place on traditional /central markets is able to migrate onto Decentralized Exchanges as well. We see this as a significant step for the progression of DeFi & blockchain as a whole ahead (see GIF of the aggregator at work connected with Binance below)

Raiden Integration into the DEX has begun

As the DEX and wallet are now stable, developers have begun work on integrating Raiden into the DEX. This will bring…

  • Stablecoins (such as DAI)
  • Leveraged trading (FTT + FTT Tokens )
  • DeFi (COMP + more)

We have already executed cross trades from BTC to ETH via Lightning and Raiden and have a proof of concept in place. We look forward to working with the Raiden developers and community for this task of creating a much needed BTC<>ETH bridge over these 2nd layer protocols

Error Improvements/ UX Improvements

  • Improved UI/ UX error handling in the wallet
  • Downsizing the steps in wallet
  • Updated channel rental UX

Through our closed beta feedback we have simplified certain things to allow for a more clear and intuitive user experience. Including an upgrade to our channel rentals UI, wallet interface and more

XSN VORTEX [ROADMAP UPDATE]

  • With DEX technology stable we are able to look ahead now at various features and tools that become available. One of them is a DeFi feature we believe will have a very large impact called VORTEX, when enabled it will allow any funds in Lightning, Raiden etc to be Arbitraged with external exchanges directly from your wallet via our DEX
  • Provide the user with simple and easy to use interface where they can create and test strategies for the best possible results and returns. Easily run the strategy with the push of a button

Up till now banking, trading, and investment firms have had a monopoly on Arbitrage, with a very high barrier to entry being required. Vortex will give the everyday users the tools and ability to compete against these firms. We see this as an important target as it effectively decentralizes the current multi trillion $ automated trading industry

Looking ahead…Post launch DEX roadmap

Our post launch roadmap will have 3 stages. GAIA, PROMETHEUS, and HYDRA

  • GAIA (DEX launch) At launch HUB network will start small with some restrictions in place. This is for final testing and to ensure security. DEX HUB’s act as routers, it is not possible to steal funds even if only 1 HUB exists, funds remain in users wallet at all times.
  • PROMETHEUS Add multi hubs and expanding the network. Multi Hubs allow redundancy for uptime and greater liquidity
  • HYDRA Final phase is dubbed HYDRA. Network offloaded to XSN HYDRA nodes (nodes run on top of the Stakenet blockchain) for a global unstoppable network

All current XSN Masternodes will be upgraded to XSN HYDRA nodes during Stage 3

Next Milestones

  • Working with our aggregating partners to increase depth/liquidity + backend connections (to other exchanges, both decentral and centralized)
  • Raiden integration onto the DEX allows for Ethereum + all Ethereum tokens to be added to the DEX, for instant exchanging into BTC
  • Trezor/Ledger integration into the LW will allow trading on the DEX directly from your HW device. Trade with your keys safe and protected at all times
  • Launch date Setting official launch date for the DEX

For more information, updates, and news follow us on Twitter or join the Stakenet Discord

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Stakenet revolutionizes the way cryptocurrencies are held, spent and staked.

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