See More

DeGate DEX Launches Testnet With Spot Limit Orders and Grid Trading

3 mins
Updated by Shilpa Lama
Join our Trading Community on Telegram

DeGate, a Decentralized Exchange (DEX) protocol built on zero-knowledge technology, has released its Testnet, with plans to launch Mainnet later this year.

DeGate fills a key gap in the market by providing spot order book trading and grid trading within the Ethereum ecosystem, offering an experience similar to centralized exchanges. The Testnet can be accessed here.

A zero-knowledge DEX

Gas fees are a major concern on the Ethereum mainnet. Conventional AMM DEXes incur high gas fees on Ethereum and provide only market orders, where traders have to accept the current market price for a trading pair.

The Testnet showcases the key features of a new type of protocol based on a zero-knowledge (ZK) roll-up which allows for spot trading through limit orders, similar in experience to a centralized exchange.

The ZK technology powers a “match node” matching orders between traders, periodically recording the transactions on a mainnet. This ensures a faster, cheaper trading experience that is still secured by Ethereum. Essentially, DeGate is limit-orders, decentralized.

Besides zero-knowledge order matching, other key user-friendly features include:

  • Permissionless listing

As a protocol, DeGate allows anyone to deploy a front end and run their own DEX, and any tokens can be listed in a permissionless manner through an open listing mechanism.

  • Grid trading feature

DeGate offers a grid trading feature for traders to trade the ups and downs in a particular trading pair. This feature is common in centralized exchanges and DeGate is pioneering it in a DEX. 

  • Gas Saving Deposit: 

Depositing into a DEX protocol often incurs a high one-time fee. DeGate has pioneered gas-saving deposit options. This option is based on a “simple transfer” rather than a “contract call”. This method can reduce the one-time gas deposit fee by up to 75%.

  • Ultra-Efficient Gas Saving (UEGS) technology: 

Pioneered by the DeGate team, this ensures significant gas savings while maintaining a decentralized protocol. 

Built on Trustlessness

Besides being user friendly, DeGate is built on the principle of Trustlessness, or “Can’t do evil”. 

  • There is no Admin Key

In order to ensure decentralization, the protocol is initiated without an Admin Key. Therefore, once the protocol is deployed, its code execution logic is immutable.

  • They ensure Exodus Mode

DeGate protocol is programmed in such a way that if an operator of the protocol goes offline for more than 15 days, anyone can trigger a transaction to enable the Exodus Mode of DeGate protocol, enabling asset withdrawal. .

Preparing for Mainnet launch

While the Testnet is running and DeGate collects feedback from users of the protocol, the team is preparing for its Mainnet launch later this year. Auditing is a key part of this process to ensure security. They will audit with at least three top tier auditing firms to review the circuit and smart contract of DeGate. 

Bug Reporting: 

Any issues and bugs found can be submitted HERE, through email HERE, or contact DeGate on Discord

About DeGate

DeGate is Limit Orders, Decentralized on Ethereum. DeGate provides possibilities to trade the spot market with Limit Orders with the benefits of trading on a DEX. Trades on DeGate protocol are matched by Zero-Knowledge technology, which enables trades to be cheaper and with higher transaction processing per second throughput. 

DeGate operates as a DAO, which has full control over the Treasury. 

Find DeGate on social media:

Website | Twitter | Discord | Telegram | Forum | YouTube | Contact | Join

Top crypto projects in the US | July 2024
Harambe AI Harambe AI Explore
Uphold Uphold Explore
Exodus Exodus Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | July 2024
Harambe AI Harambe AI Explore
Uphold Uphold Explore
Exodus Exodus Explore
Coinbase Coinbase Explore
Chain GPT Chain GPT Explore
Top crypto projects in the US | July 2024

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

images-e1706008039676.jpeg
Advertorial
Advertorial is the universal author name for all the sponsored content provided by BeInCrypto partners. Therefore, these articles, created by third parties for promotional purposes, may not align with BeInCrypto views or opinion. Although we make efforts to verify the credibility of featured projects, these pieces are intended for advertising and should not be regarded as financial advice. Readers are encouraged to conduct independent research (DYOR) and exercise caution. Decisions based on...
READ FULL BIO
Sponsored
Sponsored