Stakenet DEX - Come try the beta

[Yankeeruinx]

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.

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[nightflightcourt]

I'm a long-time beta tester here. Been testing since the initial LTC/XSN pairs were ready last year.
The DEX is stable to buy LTC and XSN with now.
Looks like they're gearing up for BTC/ETH swaps. Got them working successfully. 

[Marckolind]

How far away are the Stakenet devs from implementing ETH, and it's tokens though?
I'll definitely join in on the beta test, only because it seems like liquidity (which is the single most important thing for me), finally have been solved.

Kudos to the XSN team.

[Yankeeruinx]

How far away are the Stakenet devs from implementing ETH, and it's tokens though?
I'll definitely join in on the beta test, only because it seems like liquidity (which is the single most important thing for me), finally have been solved.

Kudos to the XSN team.

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.

[Marckolind]

How far away are the Stakenet devs from implementing ETH, and it's tokens though?
I'll definitely join in on the beta test, only because it seems like liquidity (which is the single most important thing for me), finally have been solved.

Kudos to the XSN team.

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.

Sounds absolutely fantastic.
Ethereum integration will without a doubt get people talking, and using it. I like the convenience of being able to store, and trade from the same place, without needing to send your coins anywhere, where you don't have 100% control on your private keys.

Thanks for explaining it so well, I hope the devs can deliver this soon, I really want to use it as a main wallet for my ETH tokens.

[BTCXRPADA]

Been seeing Stakenet on Reddit, Facebook, /biz, and discussed here as well. Seems like an interesting project, but I'm wondering if the issues involving the Lightning Network will become a problem for Stakenet in general long term? I mean, will it be safe to use? I heard something about a dude losing 4 BTC in a Lightning channel a while back.

[wolfington12]

Afaik lightning is safe.

There is a lot of shill and fud going around. Best bet would be to rely on your own eyes and sign up for a beta test group in the discord. It's ongoing and happening now. See for yourself.

[vster778]

After you participate in the beta DEX, you'll see how far off the project is compared to others. The best part is XSN is still affordable now for masternodes which will collect all the trading fees and block rewards.

[nightflightcourt]

XSN/wETH swaps  

https://i.4cdn.org/biz/1596794807218.webm