WandX— October Updates

Since our last update, little has changed — we are still laying the groundwork for releasing the comprehensive WandX DEX and the WandX Basket Protocol, compatible with our chosen blockchains. Figuring out the intricacies of each blockchain, their VMs, smart contracting languages, their mining and consensus protocols is still a bit of a struggle and this is precisely what’s keeping us advancing fast on the roadmap we outlined last.

We’ve encountered some regulatory hurdles around DEXs, but we are on top of things thanks to the support from our team of blockchain advisors. Collectively, we are delving deep into how best we can build WandX 2.0, one that is compatible with market conditions as well as with the changing technologies, blockchain protocols, and general ways of crypto. We decided on two major factors:

Much of our discussions are centered on the following 2 things:

1. Open-sourcing all our existing code and our protocols across different blockchains. We would do this because we think that a community-driven approach to adding features, detecting bugs, and improving the platform would result in more visibility and swift development.

2. Broadening the focus around building the DEX to accommodate features of a market-ready smart DeFi platform, featuring staking and lending, as well as aggregation of trade protocols across different liquidity protocols. We’ve mentioned this in our earlier communication to you. We are also exploring how DeFi could work at an inter-chain level. More updates on this on our next blog.

We are particularly excited about releasing staking and the UI still stands in the testing phase. Staking enables crypto to have utility in its relative protocol and enables aggregator staking protocols such as ours to provide staking services across different wallets.

With the rapid growth in crypto assets, lending against assets across blockchains has become a new paradigm. Our team is working on aggregating existing lending protocols, as well as exploring the creation of an inter-chain lending protocol, similar to atomic swaps built for trading. We have aggregated decentralized trading protocols including Bancor, Kyber, 0x, and Uniswap on Ethereum, and will look to do the same on other blockchains as and when the need arises.

With regard to WandNEO, we are currently buying GAS to deploy the smart contracts onto the NEO Blockchain. Since the NEO Blockchain requires smart contract developers to spend GAS to deploy a smart contract, we are buying GAS following which we will deploy the NEO DEX, the NEO Basket Protocol, and the WandNEO Token onto the NEO Blockchain. Dates to be declared on Telegram closer to launch.

To accomplish all of these, a great UX will be the key. With our new design team on board, we are enhancing Wandx UX and UI to suit multiple blockchains, functions, and protocols, and our backend to withstand the various calls made across different blockchains. This is all a part of the new WandX vision and roadmap and we remain committed to building these out. Our Achilles heel is still design but with a new team around, we hope to move at a better pace now.