Community Call Recap

October 1st — Margin DEX Status, Infrastructure & Core Products

Published in

unstoppable-official

6 min readOct 5, 2023

Last Sunday, we hosted another interesting community call with our Founder, 0xNic. During the call, we discussed our vision, plans for the staking module, our perspective on the broader industry, the current status of the Margin DEX, and much more. We recommend listening to the full recording on YouTube to catch all the details. Naturally, while you’re there, consider following our channel!

Watch the full Community Call on YouTube now

Current Status of the Margin DEX

First, let’s tackle the most pressing question: the delay in deploying the Margin DEX. The primary cause has been our growing pains. As we expanded our resources by onboarding additional familiar senior developers, challenges emerged in the Web3 implementation of the Margin DEX UI. Recognizing these issues during development, our core developers swiftly integrated the pre-existing code from our contract developers and coordinated to understand the root of these problems.

Though this has shifted our timeline, the submitted code was of high quality and well-documented. This enabled a rapid reimplementation and review by our core developers. We’re grateful to our contracted developers for their contributions, but in line with mutual agreements, we’ve decided to phase them out. We’re taking this experience as a lesson, aiming to enhance our coordination, communication, and code review processes with external collaborators.

In other news, the Margin DEX is nearing its deployment. We’ve just completed the Liquidation Engine and Keeper infrastructure for the Margin Limit Orders. Some tweaks remain on the Take Profit and Stop Loss order features of the Margin DEX. Once finalized, the Margin DEX will be ready for launch.

Timing the markets

Given that the code is nearly ready for launch, we’ve debated whether the current market conditions are suitable for its release. External feedback suggesting a delay until market sentiments improve has amplified this consideration.

While the difficulty of sucessfully launching infrastructure during a bear market is debatable, we believe delaying isn’t the correct decision. Since Unstoppable’s inception, we’ve had three primary objectives:

Launch the DEX infrastructure.
Develop the Bridge to connect crypto with the real world.
With the above infrastructure, craft our core product: the Unstoppable Wallet.

The prolonged bear market has reinforced our belief that a focus on enhancing user participation in crypto is vital. The present on-chain traders alone won’t sustain the ecosystem long-term.

With little signs of the bear market giving up, we expect it to go on for a while longer. Thus attracting users to the Margin DEX will be challenging. While this might raise concerns for some, it’s essential to understand that the Margin DEX isn’t just a standalone product. It primarily serves as an infrastructure layer for our upcoming core offerings.

However, we won’t neglect the Margin DEX. We’ve devised a innovative trading competitions and incentives. While full details will be disclosed later, our emphasis will be on gamified and social elements over sheer trading knowledge. Stay tuned!

The Core Product: Unstoppable’s Wallet

Our mission from day one was to design a straightforward gateway to the crypto-world. An all-encompassing app allowing effortless crypto onboarding without its inherent complexities. The Unstoppable Wallet is instrumental in achieving this aim. In essence, the wallet will manifest in two versions:

A mobile trading app incorporating all infrastructure layers, including the Bridge and both Spot and Margin DEX.
A “normie” focused app that further simplifies the user experience by utilizing the infrastructure layers, while abstracting away advanced settings.

The primary challenge with the Unstoppable Wallet is to simplify the complexities of managing it while preserving its usability. We’ve made significant progress in this direction, especially regarding the mobile trading app’s underlying technology.

Wallet-less Transactions

We recently executed our first “wallet-less” transaction. Imagine installing the app, initiating a transaction, and verifying it with just a Face-ID scan. Our relay nodes and associated smart contracts handle the rest.

This feature worked remarkably well in our prototype, but refining and integrating it into our products requires more effort. We have to rigorously test such features before introducing them to a full-fledged trading environment or a mainstream application.

To achieve this, we’ll create a comprehensive Web3-integrated proof of concept. While we’re keeping some details under wraps for now, we’re devising a gamified and socially engaging demonstration. This will showcase the feature’s potential to the broader crypto community, hopefully fueling their imagination.

Once this “battle-test” concluded, we’ll begin to integrate this feature within our infrastructure and applications. We are really excited to show you what we’ve been building in this regard and believe it’s a really good solution for a very difficult problem that hasn’t been solved properly yet.

The Bridge and Tokenized Assets

We’re getting closer to finalizing the legal framework for the Bridge. Having successfully established our legal entities, the next step is acquiring the crypto-exchange license. This will pave the way for partnering with a banking institution, facilitating on- and off-ramp solutions and asset tokenization.

The buzz around tokenized assets seems to intensify weekly, and we see enormous potential in this sector as well. Recent innovative ideas are pushing boundaries, suggesting use-cases beyond mere asset tokenization. It will be very interesting to see where this will take the crypto-space and industry as a whole over the next months and years.

Staking Multipliers for Token Sale Participants

As mentioned in our last community call, we‘re advancing with the Reliquary contract system from ByteMasons for our staking implementation. This enables us to honor our commitment to token sale participants.

We’ve been monitoring the blockchain to identify token sale participants and their respective actions — whether they held or sold their acquired supply. Loyal participants who have been with us since the beginning will receive a retroactive boost in staking multipliers. In effect, once you stake, the system will recognize you as if you started staking on the token sale’s conclusion date, awarding you accumulated multiplier points from the period since.

The Reliquary system allows us to create a dynamic reward scheme, benefiting long-term stakers while also enticing new participants. Instead of a linear multiplier curve, the Reliquary contracts allow varying multiplier weights for each maturity level, crafting a versatile incentive structure for our stakers.

Unstoppable Redesigned

Another thing we’ve been working on is the professional redesign of our brands look and message. This is also in preparation to switch the focus on the trading and “normie” apps. It has been a bit of a challenge to find the right balance between being serious enough (since we’re dealing with finances and avoiding a bland, bank-like persona.

A lot of work went into this in the past weeks and we believe we found a good balance between a bold brand that believes in our vision, while still signaling a good level of seriousness and professionalism. We’re very excited to share the new look and website with you soon!

Financial Runway

An interesting question we received lately, was about our runway. With the bear market continuing, one of our main concerns from day one was to protect the funding we received to stretch long enough to enable us to fulfill our vision without more external stimuli. In turn we’ve been very careful with spending and with the progress made so far on the infrastructure and core products, we definitely have the runway to achieve this.

Conclusion

As we approach the end of the community call, we want to thank everyone again for joining us! Let us know the best times for you to participate in the Discord, so we can see even more of you in the next community call!

If you haven’t joined our Discord yet, sign up today for all Unstoppable updates and to engage with the community and us directly. We look forward to seeing you there!