Welcome to DeGate September 2023 Ecosystem Update!
DeGate allows you to Trade easy, Sleep easy. DeGate DEX is a decentralized trading protocol that enables Ethereum spot market Limit Order trading while being in self-custody of your funds.
DeGate a ZK-Rollup DEX on Ethereum mainnet. The DEX has no fees for traders-makers and very low fees for taker trades.
DeGate pays special attention to the security of the protocol and is designed in a way that no malicious actor can do any evil, while users’ funds are safe at all times.
In September, DeGate DEX redeployed Mainnet Beta, improving the protocol in order to achieve 100% trustlessness. As background, DeGate Mainnet Beta was launched in May 2023, with the main purpose being to test the security of the system to ensure the robustness of protection against loss of funds. DeGate also ran a $1.11 million bug bounty program running with the leading bug bounty platform Immunefi.
In the past few months of running DeGate Mainnet Beta, we have seen almost $120 million in trading volume, over 300 registered users, 4,000 grid trades and more than $50,000 in revenue from grid trading strategies alone. The redeployment of Mainnet Beta gives us even more confidence in our product.
DeGate has received plenty of positive feedback from users during the past months since the Mainnet Beta launch. Taking into account feedback from traders, we have implemented several changes and DeGate DEX protocol has been improved to make it even better, more efficient and safe to trade.
One of the key advancements is a new user initialization process to start trading on DeGate DEX. Now, traders don’t need to “unlock” first to view their account profile. This change is especially convenient for Ledger users.
We also listened to the feedback that users don’t like “deposit” and “withdraw” terms when interacting with a DEX, so we changed the terms to “Add Funds” and “Send Funds” to the process more intuitive for crypto natives. Another term that has been improved is “Post-Only”- this has been changed to “Maker-Only”, which is a more straightforward term for our users.
In addition, the action buttons have been defined more clearly, and a number of viewing options have been refined. The balance view has also been changed to display users’ balances more clearly: “My Balance” is now on the top, making it easier to enter the balance page. On the balance page, users can see both DeGate balance and wallet balance. Also, an updated withdrawal fee mechanism has been introduced, making it more efficient to withdraw to users’ L1 addresses. In addition, varying fees for different tokens have been introduced. Notably, input interaction for token’s price and quantity has been enhanced, with added boundary value validation.
We welcome users to trade on the newly improved, secure and trustless DeGate Order Book DEX protocol on https://app.degate.com/
Your continuous feedback is very important to us. Please reach out to DeGate evangelists via DeGate official social media channels if you have any comments or suggestions to share.
DeGate is committed to providing fast, efficient and cheap decentralized trading experience. This is how DeGate’s app-specific Layer 2 compares to other Ethereum L2 fees:
DeGate was a leading sponsor of the premier Layer 2 event in Warsaw organised by industry pioneers L2BEAT. We thank L2BEAT for providing priceless contributions to the Ethereum Layer 2 ecosystem with their critical in-depth analysis and continuous strive to enlighten the industry and its participants.
Check out DeGate’s experience at L2 Warsaw, and do not miss the L2 Istanbul event in November 2023 during Devconnect!
DeGate is committed to the values and ethos of Ethereum and continues to support the ecosystem around the World. We believe in the vision of Ethereum and are pioneering the protocol that encompasses the technical advancements of the Ethereum blockchain. DeGate is a fast and efficient app-specific Layer 2 trading protocol on Ethereum mainnet, with the objective of providing a seamless trading experience on a DEX.
DeGate looks forward to meeting Ethereum community at ETH Milan in Italy, and has prepared something very special! You will not miss DeGate Blue Room when you are at ETH Milan. We are running an exciting competition during the event and look forward to engaging with the community in Milan.
DeGate is looking for talented contributors.
Check out this link
DeGate is an Order Book DEX on Ethereum built with Zero-Knowledge technology. DeGate provides a possibility to trade the spot market 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’, with no Admin Key. 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 Beta is live on https://app.degate.com/.