I hope everybody is fine in these crazy rollercoaster times, still healthy and curious about what's coming next. This is my first post on LeoFinance while exploring the Hive-Universe.
Stakenet is a decentralized blockchain with Lightning Network, Masternodes, and dApps, such as a Lightning DEX. One of the key features of Stakenets DEX is the fact, that it will run on the decentralized Masternode-Network. Masternode-Holders will then gain the fees from the DEX.
Today I want to give you an update about the progress of the Stakenet project, especially about the progress with their DEX. The Dev-Team is very active and therefore they published three updates during November. In this post, I will pick the three most important changes.
The most important news I could identify in this month is the decision of the team, to change the ETH & ERC-20 Swapping Client. Instead of Raiden to accomplish the swapping of ETH & ERC-20 tokens within the DEX interface, the project is now using CONNEXT. Connext is an open-source client (similar to LND or Raiden) that allows users to run and operate state channel communications via L2 on the Ethereum network.
This new partnership with Connext will help Stakenet to accelerate a lot with the ETH L2-Layer integration, as the client is very stable, supports all operating systems (Windows, Mac, Linux) and supports already ETH, USDT, and DAI. Also, the Connext team has prior experience in working with 3rd party integration, which allows for a smoother and faster workflow.
The Simple Swap User Interface (SSUI) is important as it allows a user a simple, easy, and intuitive way to exchange assets without the need of understanding the complexity of the technology behind the scenes, especially renting L2-channels. The Devs are now preparing the SSUI to adopt Liquidity Mining, Submarine swaps, Paying for rentals with on-chain funds, and Integrations of batching/ ZK rollups into the Light-Wallet.
The Devs and Beta-Testers have been putting the DEX through intensive stress tests, having over 250k USD volume with now 99.9% swap success. These tests have shown the DEX can scale. You can monitor these tests and track them live on the DEX stat UI page.
For more information, updates, and news you can follow Stakenet on Twitter or join the Stakenet Discord.
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, both 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.
