“We’re a group of crypto-specialists focused on advancing the state of open decentralized software. As a first step towards that vision, we decided to build a set of real products with clear value-add for the existing eco-system. Working on self-sustaining evolving products allows us to contribute to the further development of the application layer built on top of the protocol and help to bring it to mass adoption. Token Store is our first step in this direction.”
-Tokenstore said it-
It’s based on the principles first established by EtherDelta and uses a very similar smart contract with some minor additions. But it features a completely rebuilt order book, UI and has some extended trading capabilities like instant orders. For the first version, our main focus was on making sure the experience is as reliable and clean as possible.
The result is a very responsive and efficient exchange built on top of Ethereum smart contract. We invite you to try it out and share your feedback and comments (see “feedback” button at the top).
And to support the community and bootstrap adoption of this new exchange, we’re dropping trading fees (except gas) to zero for the next two weeks! Yes, you read it correctly, it is 0% fee trading for two weeks. After that, we will gradually bring taker fees back to the industry standard of 0.3% (hard-capped in the contract), while still having 0% maker or any other fees.
It is an Ethereum token exchange built on smart contracts in a semi-decentralized way. The core logic of the exchange is implemented right on top of Ethereum, as a smart contract. That allows us to remove a significant portion of the trust problem by not holding any user assets directly.
If the website goes down, you still have access to your ether/tokens via the smart contract that holds it and you can withdraw it using your wallet if it supports smart contract calls. That also means that your funds are protected by Ethereum cryptography and only you can withdraw it.
The code of the smart contract is completely open and well-documented, you can find it here: https://github.com/tokenstore/contract. All the trading/settlement logic lives on the chain in a smart contract.
But due to the current limitations of the technology (about 10 transactions a second for the whole blockchain, expensive on-chain calculations, significant delays for block mining) your orders signed with your private keys are stored off-chain on a private server.
The web application that serves the exchange is also stored on a private server. See more on that below.
Congratulations to Twogap and this successful collaboration.
This is a great partner for Twogap.
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For more information, please visit our sites at https://twogap.com
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