Testnet v1.0 launch announcement 🚀🚀🚀

It gives us immense pleasure to announce the release of Polkadex testnet v1.0 With this, we are proud to say that we are the first Order book based DEX to release the testnet on the Polkadot Ecosystem.

You may access it here: https://testnet.polkadex.trade

We are simulating trades from one of the largest centralized exchanges, processing about 20–30 trades per second on average for BTC/USDT. The order book is fully decentralized on-chain with a 2 second block time. 👊

In this release, the public cannot submit trades as it is a private testnet release to find the stability of Polkadex nodes. There will be frequent restarts of the testnet by our development team. The next release of our testnet will enable the public to run a node, check the blocks, and submit trades. Most of the features are disabled for now and will be enabled as per the following schedule in January 2021.

1. Enable Public to Submit Trades: This gives users the ability to perform test trades using their own testnet coin wallets. The interface will have a workflow that allows users to have access to testnet coins.
2. Fluid Switch Protocol: Users will be able to perform swaps and test out the default algorithms available. The demonstration of the switching protocol will also be available with this.
3. Custom Trading Bots: With this iteration, we intend to provide public APIs for bots to connect to the trading engine and the blockchain to place trades through our cloud infrastructure that connects to the testnet.
4. Enable Asset Management Systems: This pallet will allow users to manage funds sourced through various liquidity pools. To begin with, we will be simulating one liquidity source.
5. Polkadex Parachain Integration: We will be integrating with Kusama first and carry out the tests, and once all the tests are passed, we will be connecting to Polkadot directly.
6. Polkadex Block explorer: We will be building a custom interface with Polkadex branding to allow people to view and interact with the testnet. This functionality will be extended to the main net when it arrives.

Please do check it out, share it with your friends and colleagues.

Let us know your valuable feedback.

#polkadex #polkadot #DEX #definews #fintech #cryptocurrency #blockchain #crypto

For more information, contact us via,

Telegram: @Polkadex

Twitter: @Polkadex

Medium: Polkadex

Investors: business@polkadex.trade