Veil weekly updates: December 3, 2018
Here’s a summary of new features and updates from the last week.
Improved graphs
This week we revamped our trade history graphs across the application and added a candlestick price graph to the Pro UI. Click on “Price” next to “Depth” to see the graph in any market.
Virtual Augur shares
While we are big believers in decentralized finance and trading, we’ve long been annoyed by the clunky UX of unlocking tokens for trading. In order to complete a trade, the execution smart contract (in our case 0x) has to be able to control the tokens involved in the transaction. Normally, decentralized exchanges ask users to unlock their tokens for trading, but we’ve found that asking users to do that for every outcome in every market gets really cumbersome.
So we developed a new template for virtual Augur shares which wrap Augur shares and are pre-approved for trading. That way, when you buy a share in a market on Veil, the share you buy is already approved for trading and you don’t have to unlock it to sell it or redeem it for ETH when the market expires.
Our intention with virtual shares is to improve the trading UX and limit the number of Ethereum transactions needed to engage with Veil. All future Veil markets will by default use virtual shares, like this meme market that was created today.
Open source
We decided to open source two libraries today: Veil.js and Veil’s smart contracts. Veil.js is a Typescript library for interacting with Veil’s API. And the Veil smart contracts repository includes Veil Ether, Veil’s fork of Wrapped Ether, and the Virtual Augur Share template (discussed above). Mert and Graham from our team wrote an in-depth post about the projects on our blog today.
More resources to learn about Veil:
