Several major updates will be available on Waves.Exchange, right from launch day.
The Waves.Exchange team spent considerable time exploring how our users had been interacting with Waves DEX, and identified a number of areas for improvement. Let’s take a look at what will be different on the exchange from December 2.
You’ll be able to place a market order — an instant order to buy or sell, regardless of price. When you submit such an order to buy, you will pay a higher price than if you used a limit order, since you simply purchase available sell orders up to your required amount. If you submit a market sell order, you sell down into the orderbook’s existing buy orders. For this reason, traders typically use market orders for small amounts or when they are in a hurry.
Let’s say you want to create a market order to buy BTC. After logging into your account, choose ‘market order’ and the BTC market you want, e.g. BTC/WAVES. Then, set the amount you want to buy and simply click the buy button. Your market order will be executed.
There was a particular problem on Waves DEX. Users could change their orders to eight decimal places in the order book. This ‘backdoor’ sometimes led to unfair trading practices — while one user waited for their order to be executed, another could raise their own order by an insignificant amount. The spread would barely change at all.
To deal with this, we’ve implemented Tick size — a limit to the digits after the decimal point in the order price. Now, orders that differ very slightly in price will still be at the same level in the order book. The Tick size feature puts all users on a level playing field, making trading on Waves Exchange even fairer.
Support for Tether (USDT)
We are completing preparatory work for the launch of USDT according to the ERC-20 standard. After December 2, this asset will appear on the exchange dashboard. The USDT gateway will go live before the end of this year.
Support for native SegWit addresses
Waves.Exchange focuses on global best trends. We’ve implemented support for SegWit addresses that are compatible with BTC wallets. The new address format enables cheaper transactions for users looking to deposit or withdraw BTC. From December 2, all users will be offered SegWit addresses on their desktop and mobile clients. Find out more about SegWit addresses here.
Don’t worry. You’ll be able to keep using old addresses indefinitely — though we advise you to use the new ones.
New matcher URL
This is a major update for those who use algorithmic trading. Please change the matcher URL in settings on 2 December. Trading bots will only work via the new link: https://matcher.waves.exchange.
The matcher’s public key has also been updated: 3PEjHv3JGjcWNpYEEkif2w8NXV4kbhnoGgu
The API hasn’t changed, so Waves.Exchange is still compatible with the old Waves DEX.
We’ve reduced the CPU loading on the exchange page by 10–20%, optimizing the requests’ operations. This will enhance the speed performance and reduce the workload on the computer. The older your hardware, the more noticeable the changes will be.
Feedback is welcome
We are constantly searching for new ways to improve the platform. If you find any issues or have any suggestions for adding new features, please let us know in the Telegram group.