NerveDEX has officially launched! Experience confirmation time within seconds with transactions across multiple chains!

By NULS | Nerve | 4 Sep 2020


In the past two months, the buzzwords of the blockchain world have been DeFi and Uniswap. With DeFi’s huge traffic dividends and no threshold for listing, Uniswap become a pivotal decentralization exchange. There have been many assets with huge gains generated which brought huge liquidity and transaction volume for Uniswap.

However, many have also experienced subsequent ultra-high Ethereum GAS fee, long delay confirmation, transaction confirmation failures and a large number of mixed assets.

Today, NerveDEX, the first blockbuster application on the heterogeneous cross-chain NerveNetwork chain, is officially launched. Its ultra-low transaction fees, 2 second block confirmation time, and support for multi-chain and cross-chain transactions will surely bring the ultimate trading experience to many.

About NerveDEX

NerveDEX is based on NerveNetwork’s underlying chain asset transaction protocol. The entire process of asset transactions is completed on-chain. It is a safe, transparent and fair assets transaction platform.

With the development of the blockchain industry, the demand for decentralized transactions is increasing, and with improvement of the underlying technology, decentralized exchanges have gradually become a trend. Compared with centralized exchanges, decentralized exchanges no longer need to hold and manage users’ assets. and users no longer need to register on the exchange as before, then frequently deposit and withdraw, and lastly wait for the exchange to confirm before they can trade normally.

Users can directly use their own chain address to entrust the pending orders on decentralized exchanges, which greatly simplifies the transaction process, improves user experience, and attracts more industry users.

In addition, all transaction data is public and transparent, and users can invest in crypto assets with more confidence, thereby promoting the development of the entire blockchain industry.

Almost everyone in the blockchain field believes that decentralized exchanges are the future of crypto asset trading. NerveDEX aims to return the blockchain to its essence, to allow circulation of digital assets and transparency of trades, and to provide users with a completely decentralized crypto assets trading platform.

NerveDEX ensure that all information from the creation of asset trading pairs, to users entrust pending orders, to the final matchmaking transaction, will be stored on the NerveNetwork public chain, and the data is completely public and transparent.

NerveDEX also provide the DEX-API module, allowing more people or third-party institutions to build NerveDEX decentralized exchange nodes, and open the API interface to the public, allowing third parties to customize their own on-chain decentralized trading platform through DEX-API, At the same time, it ensures that users can conveniently and quickly entrust transactions on the nodes to improve users’ experience.

Cross-Chain Multi-Asset Matching On-Chain

NerveDEX does not depend on other blockchains. NerveNetwork itself is a public chain, and the DEX module handles the entire asset transaction process by adding transaction protocols to the bottom layer.

NerveDEX users can use NerveNetwork wallet to generate NVT addresses and private keys or keystores. The private keys are kept by the users themselves. Users can easily log in to the visual decentralized exchange provided by official or third-party nodes, and after importing the private key or keystore, they can start making transactions.

NerveDEX currently supports ETH, ERC20 assets, NULS parachain, NRC20 assets and other multi-chain assets to quickly create trading pairs and list them on NerveDEX. The cross-chain will gradually access other mainstream chain assets such as BTC and BNB.

In future, NerveDEX will gradually become a bridge of public chain assets. In the current market, many blockchains are developing ecology in their own systems, but there is a problem. Project assets in the development of blockchain ecology have a rigid need to develop more circulation.

Some projects choose to issue assets on multiple chains, but they cannot achieve intercommunication smoothly. NerveDEX can effectively solve this problem.

Second-level Confirmation, Extremely Fast Trading Experience

The block confirmation time of NerveDEX is only 2 seconds. NerveNetwork adopts a three-layer node architecture to ensure NerveNetwork’s performance while taking into account the degree of decentralization.

On the entire chain, except for few transfer transactions, there will only be data information about asset-related transaction protocol. The bottom layer does not execute other complex logic since all processing logic has been written in the bottom layer module. so that the execution efficiency will be higher, and all sending transactions can be confirmed within 2 seconds.

After the launch of NerveDEX, this superb performance will be apparent, as transactions will be completed within 2 seconds, and users can experience the extremely fast trading comparable to the centralized exchanges.

For professional traders, they only need to understand the transaction protocol of the DEX module, then query the block through the RPC interface, and then analyze the transaction data in the block in turn to obtain the needed information.

Take the DEX-API module as an example, this module provides users with a visual decentralized trading platform. Users can view asset information, view market information, view K-line chart information, entrust pending orders, view transaction records and so on. The module will obtain each block in turn, after analyzing the transaction information packaged in the block, It will store the data in a relational database, and then provide the API interface required by the exchange to realize the visualization of the data.

Low Transaction Service Fee

In addition to the advantages of DEX itself, NerveDEX also has a very low service fee for asset transactions. NerveDEX is a trading platform based entirely on on-chain matching. The handling fee consists of two parts: pending and cancellation order transaction service fee and matching transaction service fee.

Pending and Cancellation Order Transaction Service Fee

  • l Every time the user sends an entrusted pending order transaction, the system will charge 0.001 NVT as a service fee.
  • l The amount of entrusted pending orders cannot be less than the minimum trading unit.
  • l The system will charge 0.001 NVT as a service fee every time the user sends a cancellation pending transaction.
  • l The cancellation order cannot only cancel a partial amount of the order.

Matching Transaction Service Fee

The operation will be performed according to the transaction sequence in the block, and the transaction service fee during the operation will be divided into two types:

1. One part from bottom level

The service fee for this part is 0.02% for both directions. This is a very low fee for users. For users who trading frequently, this will help them save a lot in fees.

All service fees will be collected into a public account, and the Nerve Foundation will regularly repurchase NVT with 50% of the assets in this public account for burning.

2. Second part is from API

The service fee from API (0.06% for both directions) will be collected into the NerveDEX API operation team account and used for the basic income of the long-term operation of NerveDEX and NerveDEX API module.

NerveDEX-API allows users to build a cloud trading platform on this basis, and the operator can charge an additional (minimum) 0 to (maximum) 0.98% of the transaction amount between the buyer and the seller as a service fee based on its configuration.

Final words

The launch of NerveDEX will help the assets of the blockchain industry to effectively provide liquidity and open up the circulation of assets in public chains such as Ethereum, Binance Chain, and NULS. In the foreseeable future, most mainstream public chain assets can be freely circulated on NerveDEX, which is a large-scale digital asset circulation free market.

We look forward to having more users participating in NerveDEX transactions, enjoying the convenience and transparency brought by NerveDEX, and also sharing in the diversified dividends in the development of NerveNetwork’s ecosystem. In the future ecological development, we hope that more members will join in the construction of the bridge of public chain assets.

Try it out >> http://nervedex.com

Join our social media and explore NerveNetwork

How do you rate this article?


4

0

NULS
NULS Verified Member

NULS is a blockchain infrastructure for customizable services, driven by our global open-source community


Nerve
Nerve

NERVE is a decentralized digital asset service network.

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.