The year 2021 has been a portal for a lot of technological innovations for the Stakenet network. The global pandemic has not hindered the widespread advancement of Stakenet's ecosystem towards developing its global blockchain. Easy to understand project like XSN, doesn’t take a genius to understand. How they work, the risks involved, and so forth. Moreover, like other projects, they have regular updates disclosures to the community.
Starting prepared and engaged, the first month of the year offers these upgrades to the Stakenet platform:
ERC-20 + USDT (Tether) Support – Stakenet now caters in its closed beta and testing the Ethereum and ERC-20 (USDT) in consideration of the upcoming trading pairs of Bitcoin to USDT, USDT to Bitcoin, Bitcoin to Ethereum, and Ethereum to Bitcoin being added to the Stakenet DEX. The Stakenet Dex will also assist its users in providing low-cost, instant trading Ethereum/ERC-20 to Bitcoin through Connext and Lightning network.
Stakenet Wallet/DEX Redesign – the Stakenet development community has proposed its redesign concept for the Stakenet Multi-currency Light Wallet and Dex. Stakenet's Simple Swap User Interface (SSUI) has been established and designed to ensure that the user-friendly notion is strictly being followed, allowing users to trade on Wallet and Dex Layer 2 with just one click.
The platform for Crypto Exchanges – Stakenet's XSN is now available on WhiteBit Exchange for XSN to USDT and USDT to XSN exchange. WhiteBit is a centralized crypto-to-fiat exchange, trusted and used by more than three hundred thousand users from different countries. It also includes European exchange and custody licenses and is considered as one of the safest platforms among different centralized exchanges, offering liquidity and security to its crypto and fiat undertakings. The Stakenet team plans to add XSN to the Bitcoin exchange at a later date.
Partnership with Duck Dao – Duck Dao is a decentralized digital asset incubator that supports promising cryptocurrency projects to achieve their full potential by leveraging the investment power and buzz-making potential of their community. It believes in cultivating long-term partnerships with the projects that it supports, establishing a healthy, natural growth that builds lasting success. Stakenet plans to work with Duck Dao as a liquidity provider for the Stakenet DEX together with its marketing and community support.
For February, the Stakenet development team has been very busy furnishing these enhancements:
Simple Swap UI (80% completion) – the simple swap UI is an accessible interface in the Stakenet Wallet that allows trading on Layer two (2) assets. Once available, users only need to place their desired trade amount and click the swap option. The software will independently manage all Layer 2 state channel openings, closing, and swaps.
Stakenet DEX: Taker pays Maker (75% completion) – the maker within the trade provides liquidity through limited buy/sell orders to the order book, whereas, the taker is the person market buying/selling into them. This transaction will support the Stakenet DEX liquidity and assist in growing to a larger scale.
Stakenet DEX: Stage 01 – GAIA (70% completion) – Stakenet DEX HUBs act as routers which funds remain in users' wallets at all times. It will also support all fully decentralized peer-to-peer Lightning trades within the network upon launch.
Stakenet Explorer 2.0 (70% completion) – the updated version of Stakenet explorer will provide additional information relating to the Stakenet ecosystem, including but not limited to: key analytics related to staking, masternodes, trustless proof-of-stake (TPOS), and an integrated web application of the Stakenet Wallet.
Stakenet Network: Hydra Updates (25% completion) – once approved to the XSN DAO which is voted by XSN masternodes, Hydra, the third stage of network upgrades and development for Stakenet, shall manage the infrastructure, governance, and systems of the engine and liquidity following the Stakenet DEX.
Stakenet DEX: WEB UI (25% completion) – this will involve the implementation of Stakenet's DEX Layer 2 web interface. Upon completion, users can access, trade/exchange, and run Automated Market Makers (AMMs) directly from browser clients. AMMs allow digital assets to be traded effortlessly and automatically by utilizing liquidity pools with crypto tokens instead of the traditional market of buyers and sellers.
Stakenet Wallet: Vortex (20% completion) – a straightforward interface that allows users to compete with the monopoly of banks and investment firms and decentralize the automated trading industry by easily running AMMs and ARB strategies on the wallet in just one click or press of a button. With the Vortex feature available in the wallet, users can manage the seamless and low cost of financial exchanges.
The Stakenet community has always been excited to share the updates and progression of its Stakenet network, XSN tokens, and other related core applications to the general public. You are invited to visit
https://stakenet.io/roadmap/ for Stakenet's future announcements.
