In my last post about Stakenet, I presented to you how this project is changing the DEX-Sector. Stakenet is developing the first state of the art and fully decentralized DEX, built-in their Multicurrency Light-Wallet, which executes trades via Lightning Swaps!
Within their June-Update, they now present how they solved the liquidity-problem which is the main success driver of a profitable exchange.
Stakenet's Vortex Liquidity Aggregator
With the release of V 2.9.2, Stakenet brings a tested and proven Decentralized Exchange (DEX) Aggregation system. It allows traders to connect and bridge liquidity from other exchanges onto the first-ever Lightning DEX. Vortex is the ability of the Stakenet Light Wallet which allows it to connect and bridge with other exchanges (both centralized and decentralized) and execute trading strategies.
This inter-connectivity will not only benefit the Stakenet DEX, but other DEX’s as well by allowing access to all the liquidity that has been solely limited to Centralised Exchanges (CEX) in the past. Stakenet builds the bridges to aggregate all liquidity, spread all over the hundreds of little and bigger exchanges all over the world.
With Stakenet’s API the user can connect into any exchange that offers the use of API for trading like Binance, Livecoin, KuCoin, Bittrex, etc and bridge the gap. This will allow them to trade effectively from the exchanges orderbooks to the Stakenet DEX orderbook.
And the best, the XSN DEX is a true Decentralised Exchange that does not require a user to KYC and to move his coins out of his wallet (Not your keys, not your coins!)
You can view the Stakenet API in action below where a live trade happening on the Stakenet DEX orderbook and its corresponding trade happening within Binance’s orderbook.
At the moment, the project is beta-testing the DEX heavily. Actually and at launch, you can trade the following three pairs.
XSN<->BTC
XSN<->LTC
BTC<->LTC
By integrating the Raiden Network (after public launch) into the DEX, all ERC-20 Tokens will be available for trading too!
Website of Stakenet: Website
Stakenet on Twitter: @XSNofficial
Stakenet on Medium: Medium
Stakenet on Discord: Discord
About ME:
I'm a Linux System Engineer and DJ for more than two decades. I like to write about my findings in this crypto revolution and share some tutorials which can be useful in this environment. If you like my posts, please consider following me. I'm happy to answer questions in the comments.
You can find me on Twitter here.
My Posts so far:
First fully decentralized DEX is coming!
Howto prune (shrink) the database of the Monero Blockchain on Linux
