Welcome to DeGate February 2024 Ecosystem Update!
DeGate is live on Mainnet!
DeGate is a ZK-Rollup Orderbook DEX that allows you to Trade easy, Sleep easy. It enables spot trading with limit orders while you self-custody your funds. DeGate has no fees for Maker orders and very low fees for Taker orders. It offers distinctive trading features — decentralized grid strategy and DCA. Trade on DeGate DEX now: https://app.degate.com/.
Mainnet data and performance
Since launching on Mainnet, DeGate DEX has experienced impressive growth in all areas. In February, we achieve ~$50m in trading volume. And we project more to come in March. In early figures from March, we’re proud to have reached over
- 6,000 users,
- $60 million in Total Value Locked (TVL), and
- ATH of $20 million 24-hr daily volume!
Cross-Chain Bridge Solution
As with many in our community, we are thrilled to see Ethereum’s increasingly vibrant on-chain activities. But a side effect is of course higher gas fees. No users want to pay high gas fees, and we want to help.
We’ve listened to our users’ feedback and are researching solutions for cross-chain asset bridging. We are actively exploring how to realize cross-chain deposits and withdrawals for a few major tokens with cheaper chains like Optimism, Arbitrum, and Polygon.
Grid Strategy gaining traction
Our Early Adopter Program highlighted the popularity of our Grid Strategy feature among users. As the first defi protocol to introduce this yield-generating feature in the market, we’re encouraged by its reception.
At the same time, we are always gathering users’ experiences and feedback about our Grid Strategy. The most requested features are enabling “one-token” grid investment and more trading pairs that are feasible in grid strategies. The users’ requests have been heard, We’re excited to roll out these updates very soon.
Product Update
We’ve added a Profit History section to the DeGate App. Now users can track their grid profits and USDM yields in this section.
Additionally, DeGate now supports WalletConnect 2.0, offering a more stable and seamless wallet connection experience.
Our commitment to enhancing user experience continues with improvements to various interface elements, including Add, Send, Transfer, Place Order, and Create Grid Strategy functions.
DeGate Forum
DeGate Forum (https://forum.degate.com/) is here to engage our community! Got a product feedback? A community proposal? An idea for bringing DeGate to the moon? Post them here.
Recently, our Evangelist Gulu published an article about why Ethereum is winning in the Layer 1 war in the Forum. The article dives into why Ethereum is leading the game in achieving “Internet Financial Center”, the end game of blockchain application in the finance industry. This article provoked heated discussions and widespread sharing within the Chinese-speaking crypto community. Go read it here 终局解读（上）-- 以太坊正在胜出.
DeGate is looking for Contributors:
DeGate is looking for talented contributors. Check out this link
About DeGate
DeGate is an Order Book DEX on Ethereum built with Zero-Knowledge technology. DeGate provides spot trading with Limit Orders on a DEX. In addition, DeGate offers a decentralized grid trading function.
DeGate is focused on being user-friendly and is built on the principle of Trustlessness, or ‘Can’t do evil’. Users can expect super-low gas fees that are the result of DeGate’s special Efficient Gas Saving technology. This innovation ensures significant gas savings while maintaining a decentralized protocol.
DeGate also enables permissionless listing, meaning that any token can be listed in a permissionless manner through an open listing mechanism. DeGate Mainnet is live on https://app.degate.com/.
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