KROMATIKA — next generation DEX Trading, powered by Uniswap and Chainlink

By Kromatika | Kromatika | 3 Mar 2022


We are happy to announce KROMatika— next generation DEX Trading, powered by Uniswap and Chainlink.

HOW IT WORKS

KROMatika consists of:

  • Audited smart contracts for creating trades and processing them, all powered by Uniswap.
  • UI for interacting with KROMatika smart contracts.
  • Off-chain decentralized processing services, responsible for active processing of the trades, powered by Chainlink Keepers.
  • KROM token — utility ERC20 token used for paying the service fee. This fee is paid by the users and is used to cover the cost of the processing services (Chainlink Keepers).

PLACING TRADE

Placing a DEX trade on Kromatika is pretty simple:

  • Go to app.kromatika.finance (make sure you select the Kovan Test Network from your metamask wallet, other networks to follow).
  • Select the token and the amount you want to sell (for example 1 ETH)
  • Select the token you want to receive. (Example USDC)
  • Select the target price and place the trade. (Example target price: 1ETH = 5300 USDC).
  • As a result of placing the trade, you will receive a unique Non-Fungible Kromatika trade position token.1*iYLDxTx87VMuGOATjIfpdQ.png

Congratulations. The first step is done. Now what is remaining is funding your account with KROM tokens and waiting for the trade(s) to be processed.

  • Go on app.kromatika.finance to list all your active trades
  • Check the minimum KROM token balance needed for processing the trades. If your current KROM balance is lower than the minimum KROM balance, you’ll need to fund your account with KROM tokens.
  • Minimum KROm balance is
    1*VbP0suHqnqFxhD62wdF8fg.png

KROM TOKENeconomy

  • KROM token is a non-mintable ERC20 token, deployed on Ethereum, secured by OpenZepellin, and audited by MythX, having 100 million of total supply EVER.
  • 60 million KROM tokens are already available for trading on Uniswap V3 MAINNET. Get your KROM tokens here.
  • Starting token price is: 1 KROM = 1 000 gwei = 0.000001 ETH.
  • For better security and prevention from rug pulls hacks, the proof of liquidity (position) has been burned. Check the burn transaction here.
  • The majority of the token is in the community's hands forever.
  • 20 million KROM tokens are available for trading on Layer2 Uniswap (Arbitrum and Optimism).
  • The rest of the tokens: 20 million KROM tokens will be held in a multisignature Gnosis Safe wallet and used solely for project funding.

    PROCESS TRADE

    During the processing, the service fee is deducted from your KROM balance. The service fee is used to automatically replenish the service ( Chainlink Keepers ), so that it can continue managing the trades.

    After the trade has been processed, the user can collect the amount from it.

    If the trade hasn’t been processed for a while, the user can cancel it.

    1*fTsuSHnebot0NSDqT8NYzw.png

    This concludes the user interaction with the platform:

    1. Placing Trade(s).

    2. Funding your account with KROM tokens.

    3. Claiming the amounts from your processed trades.

    4. Cancelling non-processed trades.

    WHY KROMatika

    • When doing swaps on Uniswap V3, the user pays what is called a swap fee that is: 0.05%, 0.3% or 1%. When placing trades on KROMatika, the user does not pay a swap fee but pays a service fee instead.
    • The swap fee depends on the amount being swapped, whereas the service fee is FIXED.
    • The actual service fee is paid in ETH, since this is the real cost of the processing services (gas fee), however, the users always pay with KROM tokens.
    • KROM token allows for huge savings on the service fee, close to having ZERO service fees.
    • Early KROM token holders would have HUGE savings on service fees because they would be buying the token cheap and pay the service fee (which is fixed ETH) when its token price has increased.

    Hidden gem: Within the DAPP, the user can choose a lower target gas price for the automatik processing of their trades, even further lowering the service fee, sacrificing some processing speed for lower service fees.

    ZERO SERVICE FEE

    KROMatika will be deployed on Layer2 (Arbitrum and Optimism) because of the lower gas cost.

    The service fee on Layer 2 would be around 0.00002 ETH, expressed in KROM tokens. That’s 1 dollar cent for a service fee.

    It could not get any cheaper. Well, it can…. go into earning instead of paying service fees…. and that’s to be discussed later on.

    WANT TO CONTRIBUTE

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Kromatika
Kromatika

KROMATIKA is a decentralized crypto trading protocol enabling users to trade crypto assets with ZERO swap fees, NO Front running bots, and NO Price Slippage.


Kromatika
Kromatika

Kromatika is a decentralized trading protocol enabling crypto traders to do limit orders on top of Uniswap DEX. This alone is quite a useful Dapp by itself, but the real innovation is the ability to trade without any swap fees, without any price slippage, and with no risk of front-running bots

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