SUMSWAP BI-WEEKLY REPORT
The successful operation of Sumswap V3 have been our core concentration these past two weeks. It’s is notable the second stage of its deployment, it’s operations have experience some glitch. These issues encountered at the early stage of the new version have been optimized. Issues like, the transaction response speed, the occasional error report in the transaction, etc. have all been rectified. At the same time, functions such as data statistics charts have also been added. With this function, you can clearly see the amount of funds in each liquidity pool and the trend of the liquidity pool.
Regarding the K-line, SumSwap V3 is a decentralized transaction protocol, which is different from centralized transactions. After the transaction data reaches a certain amount, the K-line of SumSwap V3 will come out naturally. By then, K-line data analysis and experience will have the same effect as a centralized exchange.
In addition, the most noteworthy thing is the user’s lack of knowledge about SumSwap V3 and the entire blockchain, which is an important factor hindering the development of the entire project. The first is the misunderstanding of Ethereum L2. It is believed that L2 is not as good as other chains. L2 is the Ethereum ecosystem. All transactions are guaranteed by the Ethereum system. Other chains cannot compare with it.
Secondly, transfer money between L2 and L1. At present, L1 to L2 transfers do consume a lot of handling fees, and there are some troubles in operation. However, with the development of L2, many centralized exchanges will naturally support L2. After support, they can directly transfer money between L2, and the speed will be qualitatively improved. Currently Binance already supports L2 transfer of ETH. The emergence of any new things will pass the precipitation of time, but this does not affect his future greatness in the slightest.
On the market:
This issue mainly cooperates with the new version to solve minor problems in operation and some minor optimizations. At the same time, SUM has been launched on a new exchange LBank. SumSwap is currently negotiating with more exchanges and project parties, and it is expected that more exchanges will be launched in the future.
The next plan:
Connect with more centralized exchanges and project parties, plan to launch more exchanges, and increase the publicity and influence of the project when the time is right.
SumSwap V3 data statistics table has been completed;
Optimize the response speed of SumSwap V3 exchange quantity;
Optimize SumSwap front-end code;
Solve known bugs;
The main work content of the next issue:
Continue to optimize the front-end code and upgrade the user experience;
Study the SumSwap community governance function plan;
Research SumSwap automated transaction routing solution;
Research the zero-knowledge proof scheme of SumSwap Layer 2;
Thanks to all our members for their consistent support to SumSwap, the project will continue to move forward with determination and dedication to make SumSwap an influential blockchain project in the industry. The project party firmly believes that DeFi is an indispensable part of the entire blockchain in the future, and it is also sufficient to change the existence of the existing financial industry. SumSwap insists that DeFi changes the world.
In addition, after research and decision, in order to better cooperate with the market and technical work, the future bi-weekly report will be changed to a monthly report. Please inform each other.