DeGate Ecosystem Update - March 2022

unicappy · April 5, 2022, 5:27am

Welcome to DeGate March 2022 Ecosystem Update!

DeGate is Limit Orders, Decentralized on Ethereum. DeGate protocol allows you to do spot limit order trading with all the benefits of trading on a DEX.

DeGate Testnet is LIVE!

Access HERE and try the decentralized spot limit orders and grid trading feature.

READ: DeGate Testnet GUIDE and DeGate Testnet Update

Product & Tech Update

Testnet Launch

The launch of the DeGate Testnet marks a huge milestone for the DeGate Decentralized Trading protocol and brings us one step closer to the Mainnet Phase. While the Testnet is operating on Ethereum Rinkeby Network DeGate is now working on a Mainnet beta release on Ethereum. DeGate is the first to bring spot limit orders and grid trading onto the Ethereum ecosystem in a truly trustless way with no admin key and self-custody of assets.

READ: Cointelegraph, DeGate Launches Testnet With Spot Limit Orders Trading

We care about user feedback and continual product improvement. During the past month, DeGate collected feedback about the testnet and incorporated it into the development plan together with scheduled product requirements. Major features of Testnet implemented this month:

Support was added for depositing assets by transfer, which can greatly save your gas cost.
The feedback module was added to the top right corner of the app — we invite you to give us feedback to help us to improve the DeGate trading experience.
More information was added on deposit, withdrawal and internal transfers. This content can be accessed on DeGate Docs HERE
A more precise calculation of the gas fee was implemented
More explanatory information was added for the scenario of insufficient balance to pay for the gas fee.
Trading and match nodes were optimized.
Overall zero-knowledge (ZK) proof experience was improved. Now, users can’t trade, withdraw or transfer when resetting trading key
ZK proof production scaled- the timing of ZK proof production was reduced and overall system concurrency was enhanced
Users can now place limit orders with Post-Only enabled mode so that a pre-authorization gas fee is not needed
User wallet address that is connected to DeGate.com can now be seen on the user interface.
It is now easier to find your assets on the account asset page
Some terms in grid trading were updated to make them clearer
Open orders of the grid strategy can be seen on the order book, similar to a single spot order

Even as we made improvements to the product, the research team has been closely following ZK-EVM progress in the general crypto community, in the context of DeGate multi-chain deployment. All this, while working on the security audit for the mainnet launch to ensure the highest security for DeGate protocol.

Overall, the testnet launch was a huge success, drawing support from a large number of community members new and old, as seen by the following statistics.

Testnet in Numbers:

Number of testers: 42,779

Number of transacted spot trades: 424,510

Number of open grid trades: 6,373

Community

DeGate community has experienced incredible growth across all social media platforms. DeGate Discord channel grew 5x from 800 members to 4,300 members. DeGate Telegram channel grew 55% from 1,500 to 2,300 members, while Twitter grew 12% from 11,300 to 12,600 members.

We are pleased and grateful for this organic growth, and that more and more crypto enthusiasts are finding out about DeGate. More than 10 organic videos on DeGate testnet have been published by the community following a hugely successful Testnet launch, in a variety of global languages.

Join the DeGate community and be part of the movement to bring DEXes to the Masses!

Twitter Spaces AMA

On the last day of March, DeGate conducted its first Twitter Spaces AMA.

DeGate Evangelists Berg, Alvin, Andrew and Agne touched on key highlights of DeGate DEX protocol and walked through the main features.

They explained what DeGate DEX is — a Limit Order decentralized exchange built on Zero-Knowledge technology. The evangelists emphasised that key features are Limit Order trading, grid trading, permissionless listing and that DeGate has no Admin Key.

They also answered questions about Liquidity Mining, whether DeGate will be deployed on other Layer 1s, multi-node capability and the importance of permissionless listing.

DeGate Evangelists also explained that DeGate operates as a DAO and invited future contributors to reach out! See the open positions below.

In case you missed DeGate Twitter Spaces AMA, find the notes in this Tweet.

DG token redemption for KEY tokens

The announcement was made about the first phase of DG token redemption for KEY activity. The voting proposal has been submitted on the details of the second phase.

READ more about this on DeGate Medium.

ETH Denver Online BUIDLathon

DeGate has participated in ETH Denver, sponsoring one of the largest Web3 conferences globally, and offering a bounty for hackers taking part in the ETH Denver hackathon.

DeGate offered a $1,000 bounty in physical and online BUIDLathons, for creating a DeGate grid-trading simulator. The tool had to enable the traders to set up easier grid-trading strategies on DeGate and check how profitable their strategies could be. Grid-trading is one of the key features of the DeGate DEX protocol, enabling more advanced users to trade their crypto in a decentralized manner.

We are pleased that we had a great submission! DeGate appreciates the enthusiasm to explore the product and create tools for it at this development stage.

We are certain that DeGate will participate in future hackathons, so follow DeGate on Twitter, Discord and Telegram to get the latest updates!

ETH Rio 2022

As an active member of the Ethereum community, DeGate was a proud sponsor of the first biggest Latin American Ethereum to meet up. ETH Rio took place in Rio de Janeiro between March 11–22, 2022 and attracted crypto enthusiasts from Brazil, Argentina, Venezuela, Colombia and abroad.

It was exciting to see a very curious growing crypto community in Brazil and Latin America! This continent with its young and smart user base is the next big crypto destination.

READ an article by the Defiant on Why Brazil Has All The Ingredients To Be The Next Web3 Powerhouse

DeGate Evangelist Agne participated in the panel about stable coins together with contributors from Maker DAO and Transfero, discussing Central Bank Digital Currencies (CBDCs), stable coins, and the real need for crypto in Brazil and Latin America in general.

Shout out to DeGate Brazilian friends, especially Jose and Felipe, who supported DeGate during ETH Rio, and all of those who got DeGate swag! Send us a message, say Hi!

Special thanks to Connor, Solange, Ester, Shannon and all the ETH Rio team for making it such a great event! The community is looking forward to ETH Rio 2023.

See the Video Shout from Agne and all the exciting content about ETH Rio on YouTUBE. Ethereum Rio 2022 | DEGATE

DeGate is looking for Contributors!

DeGate is looking for talented contributors.

Apply or refer fantastic candidates as contributors to our project.

We have launched 2 Bounty Programs to reward public referrals as well as Recruitment Agencies / Headhunters who can recommend suitable candidates to us. It’s simple, refer or introduce candidates to us, get paid up to USD10K!

For more info, visit:

DeGate Referral Bounty Program

DeGate Recruitment Agency Bounty Program

We are looking for the following positions:

You can also regularly check out this link for the most updated list of available positions!

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.

DeGate is a Decentralized Exchange protocol built on zero-knowledge technology. It 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.

Besides being user friendly, DeGate is built on the principle of Trustlessness, or “Can’t do evil”, with no admin key. You can expect super-low gas fees that are the result of DeGate’s special Ultra-Efficient Gas Saving technology. This innovation ensures significant gas savings while maintaining a decentralized protocol. DeGate also enables permissionless listing, meaning that any tokens can be listed in a permissionless manner through an open listing mechanism. Expect DeGate Mainnet on Ethereum later this year.

We can’t wait to show you all that we’re building, with more to come. See our DeGate order book demo HERE.

DeGate in the Press

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