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Imo If they payed more attention to marketing i think xsn would be bigger, a lot bigger.
True. Been invested for 6 months or so, and have seen the Discord channel grow a LOT the past few months, so much that I can hardly keep track of all the chat there anymore, haha. That's a good sign, showing that people is interested in the project. Once Raiden is integrated, and they can show a Uniswap-like trading experience, I'm sure word of mouth will kick in, and boost the marketing aspect HUGELY, on it's own. |
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In simple words, to beat uniswap they will have to come up with huge liquidity and volumes. Have you heard that uniswap has crossed the daily trading volume of coinbase pro already so to compete with uniswap in dex category is not easy now, it has just grown too big.
That's true, but you see people complaining over the gas fees on a daily level, which is kind of funny considering what Stakenet is building here, is what everyone seems to want from a DEX. Instant trading No Wrapped BS Low fees. The DEX itself can tap into any CEX's meaning you'll get the BEST price possible whenever you trade, without ever needing to access any CEX's directly. This is done through Liquidity Providers, and trading through API's. If you want to know more, go do some research on "VORTEX", on the Stakenet roadmap  |
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PrefaceFull disclosure here; I am heavily invested in this. I have picked up some real gems from here and was only in the position to buy so much of this because of you guys so I thought it was time to give back. I only invest in Utility Coins. These are coins that actually DO something, and provide new/build upon the crypto infrastructure to work towards the end goal that Bitcoin itself set out to achieve(financial independence from the fiat banking system). This way, I avoid 99% of the scams in crypto that are functionless vapourware, and if you only invest in things that have strong fundamentals in the long term you are much more likely to make money.
IntroductionStakenet is a Lightning Network-ready open-source platform for decentralized applications with its native cryptocurrency – XSN. It is powered by a Proof of Stake blockchain with trustless cold staking and Masternodes. Its use case is to provide a highly secure cross-chain infrastructure for these decentralized applications, where individuals can easily operate with any blockchain simply by using Stakenet and its native currency XSN. Ok... but what does it actually do and solve? The moonshot here is the DEX (Decentralised Exchange) that they are building. This is a lightning-network DEX with interchain capabilities. That means you could trade BTC directly for ETH; securely, instantly, cheaply and privately.Right now, most crypto is traded to and from Centralised Exchanges like Binance. To buy and sell on these exchanges, you have to send your crypto wallets on that exchange. That means the exchanges have your private keys, and they have control over your funds. When you use a centralised exchange, you are no longer in control of your assets, and depend on the trustworthiness of middlemen. We have in the past of course seen infamous exit scams by centralised exchanges like Mt. Gox. The alternative? Decentralised Exchanges. DEX's have no central authority and most importantly, your private keys(your crypto) never leavesYOUR possession and are never in anyone else's possession. So you can trade peer-to-peer without any of the drawbacks of Centralised Exchanges. The problem is that this technology has not been perfected yet, and the DEX's that we have available to us now are not providing cheap, private, quick trading on a decentralised medium because of their technological inadequacies. Take Uniswap for example. This DEX accounts for over 60% of all DEX volume and facilitates trading of ERC-20 tokens, over the Ethereum blockchain. The problem? Because of the huge amount of transaction that are occurring over the Ethereum network, this has lead to congestion(too many transaction for the network to handle at one time) so the fees have increased dramatically. Another big problem? It's only for Ethereum. You cant for example, Buy LINK with BTC. You must use ETH. The solution? Layer 2 protocols. These are layers built ON TOP of existing blockchains, that are designed to solve the transaction and scaling difficulties that crypto as a whole is facing today(and ultimately stopping mass adoption) The developers at Stakenet have seen the big picture, and have decided to implement the lightning network(a layer 2 protocol) into its DEX from the ground up. This will facilitate the functionalities of a DEX without any of the drawbacks of the CEX's and the DEX's we have today. Heres someone much more qualified than me, Andreas Antonopoulos, to explain thishttps://streamable.com/kzpimj'Once we have efficient, well designed DEX's on layer 2, there wont even be any DEX's on layer 1'
Progress
The Stakenet team were the first to envision this grand solution and have been working on it since its conception in June 2019. They have been making steady progress ever since and right now, the DEX is in an open beta stage where rigorous testing is constant by themselves and the public. For a project of this scale, stress testing is paramount. If the product were to launch with any bugs/errors that would result in the loss of a users funds, this would obviously be very damaging to Stakenet's reputation. So I believe that the developers conservative approach is wise. As of now the only pairs tradeable on the DEX are XSN/BTC and LTC/BTC. The DEX has only just launched as a public beta and is not in its full public release stage yet. As development moves forward more lightning network and atomic swap compatible coins will be added to the DEX, and of course, the team are hard at work on Raiden Integration - this will allow ETH and tokens on the Ethereum blockchain to be traded on the DEX between separate blockchains(instantly, cheaply, privately) This is where Stakenet enters top 50 territory on CMC if successful and is the true value here. Raiden Integration is well underway is being tested in a closed public group on Linux. The full public DEX with Raiden Integration is expected to release by the end of the year. Given the state of development so far and the rate of progress, this seems realistic. Tokenomics2.6 Metrics overview (from whitepaper) Name: Stakenet. Ticker: XSN. Currency type: Coin. Consensus: Minting Proof of Stake, Trustless Proof of Stake. Coinage: Enabled, 24 hours. Encryption Algorithm: X11. Block generation time: 60 seconds. Block size: 1-4 MB. Final block reward: 20 XSN. Block reward distribution: 45% Masternodes, 45% staking, 10% treasury. Masternode collateral: 15 000 XSN. Governance: Decentralized democracy. Funding: Decentralized treasury, no initial coin offering, no premine. Lightning Network: Activated on mainnet. On-chain scalability: 240 tx/s. On-chain transaction costs: ~0.00001 XSN/kB. Off-chain scalability: Theoretically infinite tx/s. Off-chain transaction costs: Virtually zero. Cross-chain interface: Lightning Swaps, Tokenization Swaps. XSN is slightly inflationary, much like ETH as this is necessary for the economy to be adopted and work in the long term. There is however a deflationary mechanism in place - all trading fees on the DEX get converted to XSN and 10% of these fees are burned. This puts constant buying pressure on XSN and acts as a deflationary mechanism. XSN has inherent value because it makes up the infrastructure that the DEX will run off and as such Masternode operators and Stakers will see the fee's from the DEX. ConclusionWe can clearly see that a layer 2 DEX is the future of crypto currency trading. It will facilitate secure, cheap, instant and private trading across all coins with lightning capabilities, thus solving the scaling and transaction issues that are holding back crypto today. I dont need to tell you the implications of this, and what it means for crypto as a whole. If Stakenet can launch a layer 2 DEX with Raiden Integration, It will become the primary DEX in terms of volume. Stakenet DEX will most likely be the first layer 2 DEX(first mover advantage) and its blockchain is the infrastructure that will host this DEX and subsequently receive it's trading fee's. It is not difficult to envision a time in the next year when Stakenet DEX is functional and hosting hundreds of millions of dollars worth of trading every single day. At $30 million market cap, I cant see any other potential investment right now with this much potential upside.This post has merely served as in introduction and a heads up for this project, there is MUCH more to cover like vortex liquidity, masternodes, TOR integration... for now, here is some additional reading. ResourcesWhitepaper https://stakenet.io/Stakenet_Whitepaper.pdfQuick rundown https://medium.com/stakenet/multi-currency-wallet-and-lightning-swaps-stakenet-solution-7d0dafe99105X9's contributions to LTC https://medium.com/stakenet/litecoin-foundation-and-x9-developers-announce-collaboration-510ca985b6Exertive Proof of Stake https://medium.com/stakenet/exertive-proof-of-stake-epos-4a999807f9e4Great write-up of Cross Chain Proof of Stake (i.e. stake XSN, receive BTC) https://medium.com/stakenet/posw-weekly-ccpos-cross-chain-proof-of-stake-de1ac87055cdThe Cypherpunk Standard of Banking https://medium.com/altcoin-magazine/the-cypherpunk-standard-of-banking-88f84a834180Most recent Dev Update https://medium.com/stakenet/xsn-core-dev-update-july-12-2020-72cac6050377 https://medium.com/stakenet/xsn-core-ledger-update-july-20-2020-a446e7f7af4Further reads https://medium.com/stakenetTLDR; No. Do you want to make money? I'd start with learning how to read.
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It's definitely getting annoying with the high network fees whenever you want to trade BTC or ETH. The gas fees on the ETH network is getting very high, and you see everyone complain about it lately. There's a solution for that, second layer trading. Stakenet’s Layer 2 DEX just went into open beta to try and solve this issue with onchain congestion and fees. By operating on Layer 2 tech offchain using Lightning Network you can have cheap instant trades and as the DEX is built into a Multicurrency wallet you don’t have to move your coins anywhere. They are currently integrating Raiden Network to bring ETH and ERC20 support to the DEX. If you want to learn more and try it out yourself, you can download and run the DEX on your own here: https://link.medium.com/I4OWLvJRg9On the Stakenet Youtube channel, there are short video tutorials explaining how it all works: https://www.youtube.com/channel/UCBG54qN4O3uT6D5h3WE_7AABeen playing around with it a lot as of lately, and it's VERY fast to trade between BTC / LTC / XSN. It's pretty much instant. This could easily become the next big thing, thoughts?  |
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To date, the political situation in the world is very tense, especially since there are a lot of military conflicts, while various kinds of terrorist organizations and crime only exacerbate the situation. Each government fights against these phenomena, as well as against illegal money laundering, as well as corruption within their countries. Based on this, it must be borne in mind that no one can hope for one hundred percent anonymity using cryptocurrency for its intended purpose. Of course, for the time being, traders and investors can exchange and trade cryptocurrency on decentralized platforms, but it seems to me that in this situation, when the government is interested in specific means, wallet addresses or an exchange platform, law enforcement agencies will immediately receive all the information that interests them, Perhaps even personal user data.
Decentralized P2P solutions have been getting smarter! Stakenet DEX should permanently put an end to any KYC reqs for crypto-to-crypto tx The last major hangup is at the fiat gateway.. Agoradesk is ok, but sending cash in the mail.. Risky. One of the reasons why Dexes cant really able to compete out with centralized platforms on which these things cant provide out crypto-fiat transactions this is why we do able to see that these places arent really getting that much usage nor support for most traders or users here on crypto space due to that lack of feature.We love decentralization but we cant really avoid the need of this service specially people do really need up fiat transactions too yet we do need up conversions.I cant see for greater demand for Dex projects but it doesnt mean that these things arent useful.They cant really just get same support compared to known exchanges. Surely FIAT is important in any case, but people looking to trade anonymously doesn't NEED FIAT, as they need to stay anon from the beginning. Whenever you decide to sell out, you expose yourself, there's no way around it, unless you sell locally, but gold with BTC online or something like that. There's a major NEED for DEX's, the problem is just that DEX's is currrently not as user friendly as CEX's and doesn't provide near the same liquidity either. I believe Blocknet's DX platform is among the best solutions out there, if you care about decentralization, that is. |
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Once Blocknet's Litewallet is released, which is a multi currency wallet with 1-click atomic swap trading from the integrated DEX by Blocknet. I'm sure volume will pick up.  The litewallet looks awesome, just read the recent Blocknet newsletter covering the fact that the Litewallet's GUI is finished, and needs the final touches for release, which is pretty damn cool  |
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So I'm pretty convinced that we'll see a mega bull run next year due to the BTC halving. There's probably a LOT of wealthy people looking to invest, if the price starts to skyrocket again, but as we've seen in the past, these people are all about privacy. Remember the Panama leakage a few years back? https://www.bbc.com/news/live/business-35944255/page/2Wealthy people is likely to hide a ton of money in crypto, and while you could argue that most of them would hold privacy coins like XMR, there's also a fear that these will be illegal, and delisted/removed from centralized exchanges eventually. This got me thinking, that perhaps decentralized exchanges where nobody can follow your trading history will get HUGE demand. So perhaps it's not a bad idea to look into projects like Blocknet for the next bull run? If these DEX's takes off, the coin itself will be highly sought after. Thoughts? We are now in middle of 2020,what is the development of this?DEX's have already taking off? looks like nothing has coming in this direction.though lets see what comes this 3rd quarter because many analysis are pointing towards this season is the start of the great Bullying as the effect of halving. I don't think it's an act that shows that whales need DEX. Because there is not any DEX that can have a good enough volume to trade, besides the transaction fee is very high so DEX is always something that whales do not like. All coin transfers are just trading in their contracts, leaving me to assert that they will not use DEX for their plans.
This point are all valid,The Higher fees of DEX that many Good traders are preventing using this. DEX usage has only increased the past year. It's a slow process to move people from centralized exchanges to DEX's, but it sure is happening. Have some patience, lol. Blocknet's volume has more than 10x'ed the past year on a daily basis, so there is definitely more people making use of DEX's today than there was a year ago. DEX's are constantly improved to make them easier to navigate and trade on - In the end we don't even need CEX's. |
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Original Tweet: https://twitter.com/xsnofficial/status/1275471150144008193?s=21Stakenet have plugged their Liquidity Aggregator tech into Binance. This they believe solves one of the biggest issues with current DEX’s. By using this tech they can plug into any/all exchanges to pull liquidity for their Lightning DEX. This ensures users will always be able to buy/sell at the price they want by pulling liquidity from other exchanges if it is not available on the Lightning DEX. This is all done directly from the multicurrency Stakenet Wallet which has a built in DEX running on Lightning Network. This allows them to fulfil orders instantly vs atomic swaps and ensures you always have full control over your assets and keys. It also means that there is no KYC or geo-blocking as your order is fulfilled from the Lightning DEX and not the exchanges. Stakenet for sure will be a MASSIVE gainer in terms of ROI, and this is just a small part of their project. Mind blowing! |
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Never heard of this project before, but it sure as hell sound promising. When is the DEX scheduled for launch?
I don't believe there is a specific launch date as of yet, but we're getting VERY close based on the recent dev updates We are very close to release, Dev team are smashing our new builds of Stakenet Wallet and the integrated dex almost daily with new features and bug fixes. It’s been a long road to get to this point but the devs have absolutely smashed it out of the park with the latest update. You can see a short vid on their twitter but essentially they have solved the biggest problem with all Decentralised Exchanges so far - Liquidity. https://twitter.com/xsnofficial/status/1275129094397734916?s=21Essentially what they have done is they are able to plug Stakenet DEX into any exchange, video showing Binance coming next, so that Stakenet DEX has the liquidity of all exchanges combined. This means you will always be able to buy/sell at the absolute best price directly from your wallet with no KYC, geoblocking, having to trust your funds to a 3rd party, etc. That is HUGE news man!! I saw it on Reddit as well: https://www.reddit.com/r/CryptoCurrency/comments/heiw9j/lightning_dex_now_plugged_into_binance_to_ensure/No wonder the price is moving right now, hopefully I can get a few nodes below 700 sats |
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Masternodes are but one component of Stakenet's ecosystem - a hybrid staking/MN network where block reward payout is split 45/45/10 between staking rewards (consensus), MN rewards (2nd layer), and a treasury, respectively.
This 45/45/10 split ensures a balance of representation between the MNs and the staking network by making over-representation of one over another increasingly unprofitable. There can only be so many masternodes running before the incentive to stake and pay less in operational costs becomes the better option and vice-versa.
This is not me saying a bad thing about Stakenet or Masternodes but I have had a lot of experience in staking projects,,, as an amateur and even tried to invest a little bit into getting significant stakes in some projects but my feeling after all that is that in the end only the whales can make a profit and even so at good calculations like you do. Staking and MNs for some reason does not reward the small players enough. Stakenet is SO cheap that you can become a "whale" for a tiny amount of money. If you look at the upside potential ($10+/coin). Staking becomes extremely lucrative, even for small holders. The fees involved which is shared among masternodes providing services is what will earn the most though. Kind of hard knowing what's classified as a "whale", but 100k XSN seems to be a good number. That's less than 1 BTC worth, which is unheard off, haha. |
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The best DEX is ViteX built on Vite (this is DAG project, like IOTA but with smartcontract). And they share 90% of revenue from trading fees to token holders (10% for owners). And this DEX is for multi blockhains.
Have you heard about uniswap, it's a dex exchange, currently lots of coins in there are doing x5 - 100, to me its consider the best Dex for now because it's really easy to navigate through, lots of people have been made awesomely rich from that exchange Uniswap only supports Ethereum tokens, so it's really not my cup of tea The volume is growing though, the same can be said about other DEX's such as Blocknet's DX platform, and Bisq. +1 I can vouch for Blocknet as well. Awesome exchange, easy to use. Doesn't compromise decentralization at all. They work on so many promising things, which is pretty exciting. |
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Change the way you think, and research Stakenet (XSN) which actually tries to EMPOWER, and ENHANCE Bitcoin. Making it easier to store, trade, and send/receive using their Multi Currency Wallet + inbuilt DEX with Lightning Network integration, meaning you can trade BTC INSTANTLY for LTC or any other coin over Lightning, with NO technical knowledge. THAT's a game changer, watch this video and see why: https://www.youtube.com/watch?v=wSNFhFBKmscLiquidity is gonna be huge since they use a "DEX Aggregator" service, which combines CEX and DEX order books, and make them available for you, inside the DEX itself.  |
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"Better than Bitcoin" is not a way to get people interested. 99% of all Altcoins is BETTER than Bitcoin, it's really no secret tbh. Change the way you think, and research Stakenet (XSN) which actually tries to EMPOWER, and ENHANCE Bitcoin. Making it easier to store, trade, and send/receive using their Multi Currency Wallet + inbuilt DEX with Lightning Network integration, meaning you can trade BTC INSTANTLY for LTC or any other coin over Lightning, with NO technical knowledge. THAT's a game changer, watch this video and see why: https://www.youtube.com/watch?v=wSNFhFBKmsc |
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Stakenet had a nice run yesterday. Anticipation for the final release of the DEX I guess. Once it's out, and we get the proper marketing, I'm sure this baby will fly. No doubt.
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It's indeed a very interesting approach they've going on here, and from the tests I've seen on the DEX itself, I can safely say that it's going to be a game changer.
Anyone will be able to trade freely, instantly, and with very low fees, between all their favourite coins and tokens, doesn't get any more convienent than that!
each exchange has a different advantage. some have a large list of assets. of course, that means there is support from many communities. There are also few assets but with low transaction costs. but DEX always provides the best for daily traders who want to buy and sell quickly and in high volume. You'll be able to buy from centralized exchanges via the Stakenet DEX. It runs through an API, so you can arbitrage back and forth, instantly over the Lightning Network. It's gonna be a real game changer, no doubt. it looks like in the future this kind of trading will indeed be very in demand. all traders are looking for profit, and now we can see ways to make a profit more easily. True. Speed of trading is essential if we want to get the masses to trade on DEX's ultimately. Traditional atomic swaps on some chains are simply way too slow |
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I don't particularly like DEX exchanges, they are capitalist and annoying. They ask for a lot of costs to make sales, deposits, cancel orders and make withdrawals. This costs me a lot.  You clearly hardly know what a DEX is, because they are completely the opposite of your claims. A DEX is a trustless, low fee exchange, with NO GEO-blocking, restrictions, or any other bullshit. Well,,, he may be one of many who do not really understand what a DEX is but he does have a point in that many of them are quite annoying. And I definitely understand DEXs that cancel orders it has happened to me a lot too -- the only difference in most DEX vs CEX is that they do not have control of your funds. Cancelled orders happens when the maker cancels, just like any other centralized exchange. The beautiful thing about DEX's is: 1) They will never shut down 2) They cannot be taken down even by law enforcements, as the DEX is owned by no one 3) Your keep your privacy 4) All trading is trustless, you do not need to TRUST anyone. There are many more benefits, but these are just the main ones. You said it right when it comes to cancelled orders and theres nothing surprising about that. The market had several DEXE's and some of them are already closed.I can say that decentralization is always been good but people do still end up on centralized ones because of lacking of fiat integration and services. Yes, we can find only these features on centralized ones thats why it isnt surprising that people will surely jump to the other side in exchange to that. We don't NEED exchanges for FIAT gateways. There are multiple service providers out there, which offers great deals on crypto, which is often cheaper than exchanges themselves. (Just my experience). Once DEX's reach several millions in volume, then there is no NEED for these centralized exchanges anymore, hence why I believe DEX's is a good long term plan. |
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