Lightning DEX now plugged into Binance to ensure liquidity. HUGE NEWS!

[LeoBTCGod]

Original Tweet:

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

Stakenet 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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[jossiel]

The last part sure is a mind-blowing statement.

But I'm not that kind of person that depends on those words. As I can see, there are two exchanges where XSN is listed. And when your DEX comes then I guess most of the traders for those two exchanges will go the DEX as part of support and comfortability trading their own token.

Where's the link that Binance acknowledges the LA tech of XSN?

[Wh00re]

The last part sure is a mind-blowing statement.

But I'm not that kind of person that depends on those words. As I can see, there are two exchanges where XSN is listed. And when your DEX comes then I guess most of the traders for those two exchanges will go the DEX as part of support and comfortability trading their own token.

Where's the link that Binance acknowledges the LA tech of XSN?

You don't need to own XSN in order to use their products. All trading fees will be sold for XSN on the open market, creating MASSIVE buy pressure for the coin itself when volume picks up.

If you decide to trade BTC for LTC, it benefits the Stakenet network, no matter what you trade actually, it benefits the whole network.

Stakenet is using Binance's API (used by trading bots as well) so essentially you'll be able to trade on all exchanges from your own wallet.

Stakenet might not be listed on a lot of exchanges, there's no need right now as the DEX is being rolled out shortly.

[Yankeeruinx]

The last part sure is a mind-blowing statement.

But I'm not that kind of person that depends on those words. As I can see, there are two exchanges where XSN is listed. And when your DEX comes then I guess most of the traders for those two exchanges will go the DEX as part of support and comfortability trading their own token.

Where's the link that Binance acknowledges the LA tech of XSN?

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.

[jossiel]

Okay I guess that I have understood how this project works. Are you describing the three available products of XSN? as per stakenet's website, the active products are the explorer, core wallet and cloud. As you say about the trading fees, those exchanges where this coin is listed shall be the one to benefit not XSN.

Once the XSN's DEX has been launched then that's the time that they can benefit from the fee or by using the core wallet alone, you can benefit from it? I still have to understand it because I haven't done my research about this project.