I am sure you have been watching the cryptic messages of Neuron on our telegram discussion group in anticipation of the next big release. Sometimes we like to outline exactly what we are doing and other times we just like to say:
Don't worry Team Saturn! August has been an amazing month of developing ;)
Of course, we can't stay silent forever and we are very excited about the future and what we have been working on. Primarily, everything we have been developing, as per our last update, has been gearing up to turn Radex into a profitable exchange. To do this we see lowering what traders spend on gas and improving user experience as our two main priorities. This means everything on Radex needs to happen in one transaction.
What will one-click trading on Radex look like?
Essentially it is going to simplify the whole process, providing you with faster & easier trading experience. It opens up the possibilities of making the frontend UI easier to follow, lowering the chance of user errors. Why is that?
- No need to deposit.
- No need to withdraw.
This means we have eliminated two transactions from a user's overall trading experience on Radex. Your ETH and tokens will stay in your Saturn Wallet until you make the trade - which will happen in one transaction & one click. Trading on Radex will become wallet to wallet, you could describe it as being a peer to peer platform where Radex's smart contract ensures every trade happens safely.
Bringing Radex to the forefront of decentralized exchange technology
If you did not believe our architecture was already ahead by running 100% on chain, then there is no denying that this upgrade brings Radex to the forefront of DEX technology. As far as I am aware, there is not currently a DEX in operation on Ethereum blockchain that truly allows trading to happen in one transaction. We are particularly excited about this upgrade as it also unlocks the following future updates:
- Frontend improvements - when trading can happen in just one click, it really allows for Radex's frontend UI to be extremely simplified and easy to follow. You can expect to see UI updates with the initial upgrade.
- List new tokens - we have developed the new smart contract also with the ability to make our token listing process automated. In the future, this will allow us to enable the feature of users being able to self-list tokens.
- Decentralized loyalty program - as mentioned earlier, we would not feel comfortable implementing trading fees if traders are losing out to gas fees. The new smart contract will open the doors to implementing our exchange mining plans.
Enough with the words, where is the tech?
For the upgrade that will allow trading to happen in one transaction to be implemented, it will require Radex to use a new smart contract. As you already know, we never like to talk about our tech if we are not sure we can deliver! However, it needs to be released carefully as a new smart contract means every token has new orderbook.
We have decided the best way forward is to initially only release this on Ethereum Classic, this way you can test and experience the joys of one-click trading with Saturn Classic before we start rolling out more features. It also gives us a chance to receive some valuable feedback before we start collecting trading fees!
This release should definitely happen in September, the exact date is still to be confirmed, of course, we will keep you in the loop. If you have any queries, do not hesitate to join our forum and ask away.
Future is bright!