📢 STEEM & SBD gateway with 0% fees for decentralized trading platform Bitshares RuDEX launched
Good news everyone!
When we announced our STEEM witness campaign back in March, we’ve promised to create gateways for all Graphene-based chains, including STEEM. Since then we’ve been keeping the full monty set of nodes (witness, backup, and seed), as we prefer the “do first, talk about it later” approach. We did not put any special efforts to get to the top, and perhaps because of that were number 92 in steemd.com/witnesses until recently.
However now, after acquiring experience with other Graphene chains and lengthy closed testing of STEEM and SBD gateway for Bitshares DEX we’re proud to announce its public testing and are aiming at least to get closer to the top witnesses.
Ever since BitsharesX days the DPoS system intended that the community would vote for those who not just supports the required technical equipment, but also provides some additional solutions that are interesting to the community. We hope that a Bitshares gateway with 0% trading fee for STEEM & SBD is such a solution from us. Your votes for our @blockchained witness are what allows us to keep it that low.
We understand that our English posts can be lost in our Russian language publications, that is why after consideration we’ve started to repost all of our English posts to our @rudex account. Please follow it to remain up to date on our launches and our activity in general.
The results of operating our PPY gateway confirmed our theory about demand for alternate gateways to the DEX with architecture and features differing from those already present. Besides, PPY proved that assets can and should have high liquidity on Bitshares DEX. For example, right now ~99% of all PPY daily volume occurs on Bitshares DEX. The experience we’ve had with PPY gateway helped us move closer to our goal.
Now, after successful testing of gateways for a variety of Graphene chains we are ready to launch gateways for STEEM & SBD.
Trading STEEM/SBD on RuDEX has several advantages over trading them on centralized exchanges. Here are the main ones:
- An ability to trade against completely decentralized assets (bitBTC, bitUSD, BTS, etc)
- 0% trading fee for STEEM/SBD and other Graphene-based chains
- Active development and support for the gateway and rudex.org entry point by the active members and witness of the STEEM platform
- Telegram based sandboxed trollbox
- Only you control and can access your account and funds
- The Bitshares based exchange can’t close be blocked (with desktop applications for all popular OSes allowing you to connect even if the site is blocked)
During the design of the gateway we were aiming to ensure the following parameters:
- Transparency and ease of audit
- Strict correlation between amount of tokens in the wallet and on the DEX
- Minimization of the fees
- Ease of use
One of the goals during the gateway creation was an ability to publicly audit it.
According to our last point, the amount of STEEM/SBD on DEX will be the same as the amount of STEEM/SBD that the gateway has on STEEM blockchain. The gateway is set up so that the amount on the DEX can be smaller than on our wallet, but it can’t be higher. So you can always be sure that money never appears on the DEX out of nowhere. Here is how it is implemented on the Bitshares side:
- when you deposit your tokens to the Bitshares network, the required amount is issued
- when you withdraw the tokens, the required amount is burned
That way the amount of UIA tokens (RUDEX.STEEM/RUDEX.SBD) is de-facto equal to the amount on our wallets. For STEEM it is @rudex.
In the future our gateways would have a stand-alone section for auditing them on rudex.org. But for now you can use the following services:
- [email protected] and [email protected] — for auditing the assets on Bitshares DEX
- steemit.com/@rudex wallet for our wallet on Steemit
Our goal was not only to create a convenient instrument for people to use (we’re working on making it completely open source), but also move towards more decentralization, since more gateways the DEX has, the less centralization around any one of them.
One of the features of our gateway that makes it different from the existing ones, is that as a Graphene ambassador, we’re setting 0% market fees for chains based on this technology. We can afford that from the witness payments that we receive.
If you like what we’re doing please vote for us!
A quick guide to working with our gateway
To deposit STEEM/SBD to DEX
To withdraw STEEM/SBD from DEX
Support our BLOCKCHAINED witness on Steem blockchain. Your votes give us an incentive for continuous development of the network!
Why should you vote for our BLOCKCHAINED witness?
- We’ve done more than a hundred translations from English into Russian (about features and architecture of Steem, all official announcements, and releases by the team) as an outreach effort for Steemit among the Russian speaking audience
- As any worthwhile witness, we have a complete set of nodes (main, backup, seed)
1. witness-node (64GB RAM, 200 SSD) - blckchnd 2. seed - seed.steem.blckchnd.com:2001 (64GB RAM, 200 SSD) 3. api-node (coming soon)
- We prefer actions over words
- We’ve created a 0% fee gateway for STEEM, SBD and all other major Graphene chains on Bitshares DEX
- We’ve committed to the principles of Free and Open Source Software, so all of our work is available on our github. Please use it as you like!
- Community asked us to create a separate account for English announcements. For simplicity, we’ve decided to repost all such announcements to our @rudex account
In the near future similar gateways would be launched for remaining Graphene-based chains. Next up on our plans is to start working on an ERC20 gateway, so it would be possible to list EOS tokens on the DEX. When the gateways are ready we’ll send a pull request upstream to make our gateway available in all other wallets and web interfaces of Bitshares.
In time we’ll also create gateways for the coins that we consider the market is going to be interested in, but for non-graphene chains those markets will have some minimal market fees.
Market.rudex.org web and desktop wallets 23.09.2017 update:
- New trading pairs are added to the DEX with RUDEX.MUSE, RUDEX.STEEM, RUDEX.SBD
- Dashboard markets added: RUDEX.MUSE, RUDEX.STEEM, RUDEX.SBD to replace OPEN.GRC, OPEN.STEEM, OPEN.SBD respectively
- Those pairs also added to My markets tab
- Trollboxed moved to Market only and is loaded in sandboxed iframe
- Fixes from Upstream added