Testing DeGate trustlessness in Exodus Mode

DeGate DEX is an Order Book DEX on Ethereum built with ZK-Rollup technology. DeGate operates on principles of trustlessness, permissionlesness and decentralization. DeGate aims to to be the best decentralized trading protocol that operates permissionlessly.

In November, DeGate shutdown its Layer 2 node on Rinkeby network. This creates an opportunity to test DeGate trustlessness with DeGate Exodus Mode. It shows the safety mechanisms that DeGate protocol has in place when it launches on Ethereum Mainnet.

Background

On November 19, 2022, DeGate shutdown its Layer 2 node on Rinkeby testnet, as Rinkeby testnet was being unwinded due to Ethereum merge. Nothing from Rinkeby testnet can be migrated to Goerli testnet as the chain data is different for both.

DeGate initialized a forcewithdraw transaction on Rinkeby Layer 1, the timestamp is 1668829088 (0x63784fa0, 2022–11–19 03:38:08 UTC)

That means that DeGate Layer 2 which operated on Ethereum Rinkeby testnet will not process withdrawals anymore. In this case, DeGate Exodus Mode can be triggered, which will prove that you can always trustlesstly reconstruct the state data and withdraw your funds.

What is Exodus Mode?

Exodus Mode means that if the protocol is deprecated, anyone can initiate enabling Exodus Mode and withdraw the assets directly through the smart contract on Layer 1. In other words, Exodus Mode on DeGate allows users to retrieve assets in their DeGate account without the involvement of any third party in case of emergency.

When Exodus Mode is activated, DeGate smart contract rejects receiving new zkBlock data, which means that all off-chain activities are ceased. That is when Exodus Mode stops DeGate protocol. DeGate protocol will only support the withdrawal of user assets back to their wallet address from their own accounts on DeGate.

According to the logic of DeGate smart contract, anyone can trigger to enable Exodus Mode after 15 days in case of no response from the protocol if the operator goes offline. Users need to get the Merkel Tree data of the account and asset and call the DeGate smart contract interface with this data to retrieve the asset.

Test DeGate Rinkeby Exodus Mode

We invite users who tried DeGate testnet on Rinkeby to test Exodus Mode, and see how you can withdraw funds from DeGate DEX on Rinkeby. Conducting Exodus Mode shows that safety mechanisms at DeGate work as intended.

For withdrawing funds from DeGate Rinkeby: an estimated timestamp is 1668829088 + 1296000 = 1670125088 ( 2022–12–04 03:38:08 UTC). After this date, all the assets on DeGate can be withdrawn from Layer 1 directly.

We welcome everyone who tested DeGate on Rinkeby to participate in testing DeGate Exodus Mode. This is a great opportunity to check out how trustless DeGate is in practice!

How to withdraw assets in Exodus Mode?
Users call the withdrawFromMerkleTree interface of the Exchange contract and are able to withdraw assets directly from Layer 1 smart contract.

User tutorial: Refer to full instructions on DeGate docs.

DeGate wishes you successful testing of Exodus Mode and share your experiences with us in Discord, Telegram or Twitter!

DeGate stands by principles of trustlessness, permissionlessness and decentralization and is committed to building the best, most liquid, and trustless DEX protocol that will enable you to trade with a flow and with confidence.

LINKS

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

I’m so excited to test the Exodus mode. Kudos to the DeGate team.

I’d rather wait for Degate to launch than loosing money trading elsewhere.

Watch DeGate Exodus Mode step-by-step video:

https://www.youtube.com/watch?v=vAym_n0JXdU

Another mind blowing thing from DeGate.