Pretty much done, bridge between LN and Raiden done so can swap BTC/ETH or any ERC20. Going to be added to DEX next week to demo but for this first demo will need Raiden client as well.

So for this first demo you have to send your ETH/ERC20 to the Raiden client this is because we haven’t integrated ETH private key management just yet, devs are working on it now so should be done soon. However once your ETH/ERC20 is in the Raiden client our wallet/DEX does everything else. So your ETH balance shows up and you trade on the DEX as normal.

Once the private key management is integrated into the wallet then you won’t need the Raiden client and everything will all be in one place.

Looking for people to come try the beta and put the multicurrency lightwallet and lightning DEX through its paces. Trying to squash as many bugs as possible in the run up to launch so want you to do your best to break it and submit bug reports for anything you find.

For the beta the trading pairs are BTC/LTC and BTC/XSN to keep it simple and concentrate volume.


The DEX is also currently running aggregator tech aswell so you will be able to see your BTC/LTC trades on Binance and BTC/XSN on Livecoin in realtime if you happen to trade with it. Check the video below to get a quick overview on the DEX architecture or skip to 3:35 to see the aggregator tech in action on Binance and Livecoin

https://youtu.be/e2MKOXXg048

If this is your first time hearing about this DEX then for a quick rundown it is built directly into a multicurrency lightwallet. It is completely non-custodial so you always keep control of your assets and keys at all times. The dex is P2P and completes Atomic Swaps over Lightning Network something they are calling Lightning Swaps. Lightning Swaps are settled instantly vs Atomic Swaps which have to wait for onchain confirmations. As transactions are settled instantly it allows the use of traditional trading tools like aggregators which can plug into any CEX/DEX (if they settle trades instantly) via API and use their liquidity for the DEX to ensure you can always buy/sell what you want, when you want. A more indepth article about it all can be found here:

https://medium.com/stakenet/stakenet-dex-multi-exchange-trades-7193243f0c13

Also the latest Dev update can be found on the link below which gives news about Raiden integration which will bring ETH and all ERC20 tokens to the Lightning DEX for instant trades:

https://medium.com/stakenet/xsn-core-dev-update-july-12-2020-72cac6050377

If you want to try the beta then please head on over the to community Discord channel and let a team member know so they can add you to the test groups:

https://discord.gg/cyF5yCA

Any questions then feel free to ask away and I'll do my best to answer.

And why is that? You are welcome to come try the new multicurrency wallet and Lightning DEX for yourself if you have any doubts.

Could say the same for Stakenet’s Lightning DEX which solves many issues that DEX’s currently have like liquidity by being able to tap into any exchange to gain liquidity which means people using the DEX will always be able to get what they want at the best price from one single place, their Multicurrency Lightwallet. Article about it here below which has videos of them linking in with Binance and Livecoin.

https://link.medium.com/K20PsuB6M7

As for incentive, people running MN’s that host the DEX as well as their basic block rewards get 90% of all trading fees earned from it. The remaining 10% are converted into XSN and burned to reduce circulating supply.

If you want to give their Lightning DEX a test for yourself then head on over to their Discord and join the test group, the more the merrier.

Well I am on the Stakenet team and can honestly say I have never heard anyone say anything like that and that everyone is of the view point that Masternodes are a necessity for our project and vision. If you can find anything though then by all means feel free to share it.

Hate to say it but think you must be confused with another project. Masternodes have and always will be a very important part of everything we do as they will be hosting all the services that run on the network. We know that MN’s have had a bad rep in the past as it seems that nobody actually does anything with them which we find absolutely crazy as they are the perfect platform to build a robust decentralized network on with plenty of opportunity and incentive for the people running them.

For example our new Lightning DEX is the first dApp we have built and when offloaded to the MN network will allow those MN’s that choose to run it to be rewarded by collecting 90% of the trading fees. The remaining 10% is converted into XSN and burnt to reduce supply. Back to the MN’s though we believe this will give people plenty of incentive to run these “DEX Hubs” on their MN which in turn will ensure that the DEX is always be up and running and filled with liquidity and in turn making a much better experience for the end user who just wants to do some trading.

Hope that answers your question.

This is not really true at all as it basically boils down to who can spend the most to secure the votes needed to win. It’s not a level playing field at all even though it might seem like one.

This problem is not just related to new projects but for existing projects too. Exchanges are a blight on the industry and the fees they think are reasonable are anything but. I have personally seen listing fees of over $1M plus wanting 10% of the coins supply it’s absolute madness. Prior to 2017 listing fees were pretty reasonable but once the ICO age hit they got extremely greedy and started charging huge fees because all these ICO projects were sat on millions of $’s so they spent massive amounts of their budgets on them. Those days are done yet exchanges haven’t got the message so are trying to find new ways to extract massive amounts of cash from projects which seems to be these IEO’s now. They don’t care about the fundamentals of a project in most cases they only care about what makes them a nice pot of cash.

For existing projects that are trying to do things properly, that didn’t have an ICO or any of that rubbish it puts them in a awkward position. Do they blown their entire budget just to secure one big exchange listing or do they use that money towards development? You would think that some people would see the nobility in a project trying to do things the proper way, the way crypto was started, through hard work and delivering products but nope that’s not the case at all. These exchanges have brainwashed people into thinking if it’s not listed there then it’s a shitcoin scam and must be avoided yet probably 90% of the projects they list have absolutely no working products. It’s sad to see how far the industry has moved away from the ideals it was built on.

Hi,

First off the Stakenet team put out this great article yesterday explaining what’s going on with this tech they are calling Vortex so make sure to give it a read as it explains things perfectly:

https://link.medium.com/5LYk6310B7

Now secondly you need to separate Stakenet from XSN. Stakenet is the overall project and to use any of their features as a user so like the Multicurrency wallet and Lightning DEX you do not need XSN at all and can just stick with whatever assets you want. The Lightning DEX functions just like you would expect any exchange to function like in regards to trading assets. However it has a few very special features like being built directly into the wallet so you don’t need to send your coins anywhere, you don’t have to trust any 3rd party with your assets or any personal information, you always have full control over your assets at all times.

Another special thing is what they gave the rundown of in the article is Vortex which allows anyone to use the API to connect to any exchange to provide liquidity for the Lightning DEX. This means for the average user they will always be able to buy/sell whatever they want at the price they want because liquidity can be pulled for every exchange if it’s not available on the Lightning DEX directly.

Now as for XSN this is for people that want to take part in running the network so if you don’t want to do that then that’s absolutely fine and you can just be a user of the services provided. However if you do want to help run the network then you can pick up some XSN and buy a Masternode. These Masternodes are what are making everything work so like they host all the various blockchains that the Multicurrency wallet supports, they host the DEX, they are lightning nodes and route traffic and so on. If you run a MN and add some of these services too it then in return as well as the standard block rewards you earn you also can earn the fees generated by the service. So for example if you are running a DEX hub then the trading fees generated get paid to you to. This give you the opportunity to setup multiple revenue streams for your MN.

Today we connected our Liquidity Aggregator tech to Binance for the Lightning DEX.

This tech will allow our Lightning DEX to connect to any/all exchanges to ensure there is always enough liquidity to fulfil your orders. We believe this solves one of the biggest issues with current DEX tech, liquidity and being able to buy/sell at the price you want. Check it out in action on the tweet below to see a live trade on BTC/LTC:

https://twitter.com/xsnofficial/status/1275471150144008193?s=21

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=21

Essentially 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.

As further proof of the malicious actions of users on this forum Jolly Good on his crusade is giving negative trust ratings to anyone who disagrees with him



Calling them "Sock Puppets" which is not the case at all as this thread was posted in the Stakenet community by a member to ask me what was going on and then people came here to defend me but because they did they are getting marked down:



This entire thing is absolutely ridiculous.

You keep making these accusations against me when I literally had nothing to do with this threads creation and release. It was being designed and it’s release date was set well before I was brought on to the team. BTT is barely on my radar as a means for promotion these days as there are far more effective ways to reach your audience these days. When people can easily connect to teams through Telegram or Discord and chat directly to them there isn’t much point in these ANN threads. With that said of course you should still have a presence on BTT as even now it’s still expected that projects do but it is certainly not as important as it used to be.

But yeah keep talking crap and thanks for the free bumps 👍

Edit:

Have updated this thread with proof of your reckless abuse of the Trust score system on this forum:

https://bitcointalk.org/index.php?topic=5198234.msg53033600#msg53033600

I wish more people knew how shady things are behind the scenes of exchanges. I think many people think you just fill in a form and then like magic you get listed. Even in this thread I know for a fact that some of the exchanges mentioned as good and even in that linked thread about Crypto Exchange comparison the information is wildly inaccurate. It's nothing like that anymore, huge listing fees and crazy terms and conditions in the contracts are the norm and while exchanges may say publicly "free listing" I can assure in many cases that is not the case as there is nearly always a catch. Some examples of these catches would include taking out an expensive "Marketing Package" and using their own expensive "Legal Services".

Other things that many people don't know are that many exchanges have "Volume Targets" which they set for you. They take a deposit of a large amount of BTC and set you a large daily volume target to hit, if you don't hit that volume for 2 consecutive days then they take that BTC deposit you gave them as compensation. This essentially promotes wash trading and fake volume on exchanges as projects have to fill the gap if volume drops below. Another thing is having to use their "Market Making" facilities which usually means supplying them with a large % of your supply and essentially allowing them to control the price or depositing upwards of $1M into their MM account.

As an example of what a listing can cost here is what it is for a well renowned mid tier exchange. Listing fee 35BTC, additional 35BTC "deposit" that they hold, mandatory marketing package the cheapest of which is $30k, daily volume target of $200k. If you go below the daily volume target goodbye 35BTC deposit.

I think since the ICO boom exchanges got extremely greedy as they were able to get away with charging these fees as many projects did have those stupid amounts of cash raised to pay these fees. That has left projects trying to do things properly at a huge disadvantage as essentially the entire market is rigged as pay to play now. The new thing is IEO in which again exchanges want a huge % of the supply and can control it's price again.

Charging these huge fees and other practices exchanges now employee as the norm are not to "protect investors" like they claim it's just greed pure and simple and they are basically encouraging projects to do shady things to raise the money to pay these outrageous fees. Projects are no longer listed based on the merit of their project but based on how deep their pockets are.

I mean look at the CMC exchange rankings right now, who are all these exchanges in the top 20? Haven't heard of barely any of them, who is using them? Check their order books and see how thin they are yet they are supposedly doing over $1B in volume. The top "adjusted" exchange right now is FatBTC and their top trading pair is ETH/USDT which is apparently doing $300M daily volume yet of you look at the orderbook selling 1 ETH would drop the price by 20%, it's ridiculous.

You are posting things as though they are FACTS when they are not at all. I will repeat again as I know this for a certainty that NO PAID SHILLS/GROUPS have been hired to bump our ANN thread.

I have posted everything I possibly can on this subject to prove our innocence on this and we have already resolved/disproved ALL of the other accusations made against our project:

Accused of having a fake team - Disproven
Accused of not being a registered LLC - Disproven
Issues with links in the T&C's in the footer of the website - Resolved as promised

The only thing they have to cling on too is this paid shill group that is allegedly posting on our ANN thread which conveniently for you is something that is beyond our control to disprove.

All your other claims have been disproven and your confirmation bias is leading your judgement as you seem desperate to uncover some huge scam here at Zentoshi where there is none. Testnet is up and running for anyone to try, why would they spend over a year putting this all together just to try and scam people.

As I said previously these accusations may have started out with good intentions but it is clear malicious intent now to hurt the project and the people behind it.

Posting my reply from this thread here too:

https://bitcointalk.org/index.php?topic=5198234.new#new


Just when I thought this was all over and we could move on.....

For comparison here is our CryptoTalk thread:

https://cryptotalk.org/topic/17069-ann-zentoshi-zenx-launching-november-7th-2019/

Now to me this seems fine but then admittedly I haven't done a deep dive into user accounts and post history of who is posting there.

Now let's say that we did hire some kind of pump group as claimed, then why wouldn't they also be working on the CryptoTalk thread too?

I don't know what's going on with BTT and why things are happening, for all I know one of the accusers has made a bunch of alt accounts and is trying to set us up to get some trust credit or a community member thought they were helping us by making posts, who knows at this point.

What I do know for absolute certainty is no pump group has been hired or paid to make posts on our ANN thread so I feel like all these accusations of being a scam are a little too far and have been extremely damaging to our project. We just launched our testnet which was supposed to be an exciting milestone for us and a chance to show everyone what we have been working on and it is all being muddied by these constant accusations.

First we were accused of having a fake team and using pics stolen off google, we provided social links for everyone on the team who offered them and added them to LinkedIn.

Then we were accused of not being a registered LLC in the US so we provided documents as proof that we were in fact registered.

Then there was the whole T&C issue which has also been resolved.

Now we are left with this mystery hired shill/pump group which conveniently is something we do not have an ability to disprove, at least I have no idea how you can disprove that kind of allegation.

Maybe these attacks/accusations about the project did start off with good intentions to protect the BTT community but at this point it is starting to feel a bit malicious in all honesty.

Just when I thought this was all over and we could move on.....

For comparison here is our CryptoTalk thread:

https://cryptotalk.org/topic/17069-ann-zentoshi-zenx-launching-november-7th-2019/

Now to me this seems fine but then admittedly I haven't done a deep dive into user accounts and post history of who is posting there.

Now let's say that we did hire some kind of pump group as claimed, then why wouldn't they also be working on the CryptoTalk thread too?

I don't know what's going on with BTT and why things are happening, for all I know one of the accusers has made a bunch of alt accounts and is trying to set us up to get some trust credit or a community member thought they were helping us by making posts, who knows at this point.

What I do know for absolute certainty is no pump group has been hired or paid to make posts on our ANN thread so I feel like all these accusations of being a scam are a little too far and have been extremely damaging to our project. We just launched our testnet which was supposed to be an exciting milestone for us and a chance to show everyone what we have been working on and it is all being muddied by these constant accusations.

First we were accused of having a fake team and using pics stolen off google, we provided social links for everyone on the team who offered them and added them to LinkedIn.

Then we were accused of not being a registered LLC in the US so we provided documents as proof that we were in fact registered.

Then there was the whole T&C issue which has also been resolved.

Now we are left with this mystery hired shill/pump group which conveniently is something we do not have an ability to disprove, at least I have no idea how you can disprove that kind of allegation.

Maybe these attacks/accusations about the project did start off with good intentions to protect the BTT community but at this point it is starting to feel a bit malicious in all honesty.

And yet you are still making your assumptions as though they are fact, making claims that I have organised “paid shills” from a “pumping service” when my only involvement in this thread was the 2 posts that I made. I had nothing to do with this threads creation, release or management apart from the Medium article and posts about it on the social channels.

Edit:

Just remembered I did ask them to add the release date to title of the thread too so can add that to the list for my involvement in this thread.

I’m sorry but no you absolutely are making a huge issue out of nothing and doing everything you can to undermine the project.

Red flag 1 and 2 are essentially the same thing, newbie accounts or inactive ones suddenly becoming active and posting here. They already said we made a big deal about the ANN thread launching, I even wrote an article about it for our Medium and shared it in all our socials to let everyone know so of course it will direct some traffic here as that was the intention to give visibility to this thread.

https://link.medium.com/HpEsA6iXj1

As for actually posting here my 2 posts I made in this thread prior to today have been dealt with here as I got called out as a “professional shillers”

https://bitcointalk.org/index.php?topic=5198234.new#new

Red Flag 3 being the T&C as said it will be dealt with but as it’s the weekend they just did a quick change until the proper fix can be put in place.

So can you please explain what exactly further needs to be done here to address these 3 concerns of yours.

Edit:

Oh and for the record you are making some big assumptions about my feelings on this thread. I am genuinely pissed off, I am not doing anything to “impress my employers” in fact they warned me against venting my frustrations. Also for the record the only things I had to do with this thread was do the Medium article and get it posted on the socials. I had no input in its creation/design/release and just had the 2 posts I had made on it prior to today.

In regards to inflation/total supply: