Topic: Instant BTC + ETH Trading Made Possible By Stakenet - XSN (Read 508 times)

Bitfinex! Who would've thought?

LTC Partnership:
https://litecoindotcom.medium.com/litecoin-foundation-x9-devs-partner-to-support-ltcd-and-lightning-network-19c37db23d70

ARK Partnership:
https://ark.io/blog/ark-announces-partnership-with-stakenet

DuckDAO Partnership:
https://medium.com/duckdao/duckdao-stakenet-xsn-partnership-4a2a6e077aeb

And a TOP 5 Exchange on its way this month! What's not to like?

Forgive the late reply. Yes, Stakenet has its own blockchain. Yes, you can stake it.
The LTC Foundation and X9 formalized a partnership to collaborate on LN back in 2018.
https://litecoindotcom.medium.com/litecoin-foundation-x9-devs-partner-to-support-ltcd-and-lightning-network-19c37db23d70

So this project have its own blockchain ? And also we can stake the coin like we did on waves wallet ? Where did you get that the team help LTC yeam to implementing lightning network ?

Lightning Network supporter here. Stakenet would be the only investment I have done better this year. 2021 coming soon 

They dropped raiden for connext. Connext already has windows support and some pairs unlike raiden.

This. The time for bitcoin to confirm is the biggest issue.

I end up buying XSN before they achieve the ETH swaps.. Reasons for buying.. Short term: No  Long-term: Yes

Stakenet is the classic underappreciated DEX in the space 

This is exactly how Stakenet leading the innovation and stuff of defi and crypto. I love the backbone of their project which is building the infrastructure of allowing INSTANT virtually FEELESS transactions by using 2nd layer networks for BTC (The Lightning Network) and Ethereum. This is the main reason why it is backed by a rock-solid bunch of users

The problem with on-chain transactions is: Transactions need to be confirmed on the blockchain to be accepted on the network, this takes time sometimes even HOURS on Bitcoins congested blockchain with 1 MB blocks storing the data of transactions.

The advantage of off-chain transactions is that transactions are instant, and the fees MUCH lower, since a Lightning Network node used to verify transactions is WAY more powerful, and thus confirms transactions faster. Off-chain transactions are nearly instant, and works much much better in a trading environment, such as a DEX.

Maybe it's an old screenshot of the beta?

I assume this is just a mockup, right? $1000 on chain fees doesn't sound  right 

Looks good though, still waiting for the public release of this. The open beta version has been good so far!

SSUI is looking good. 

Stakenet's simple swap service actually looks a LOT like Shapeshifts layout. Works pretty much the same, so it's a great alternative to how Shapeshift used to work (before KYC).

Afaik, if you start with standard BTC you pay the on-chain tx and a tiny channel rental fee once (all automated) to move it to L2 and swap it into ETH. From there, it's on L2. The same is true in the case of Ethereum. Start with ETH on L1, pay the on-chain fee and tiny channel rental fee once. The rest is done on L2.
Was shapeshift a mixing coin mixing service? I remember there were a few places that acted as custodians and triggered exchanges immediately, but they are in a rather murky area legally-speaking and are also capable of pulling an exit scam.
The biggest appeals to using Stakenet DEX are: no accounts, no KYC, non-custodial wallets, fast sync times, and no need to manually download individual blockchains for every coin you want to swap into. Your wallets and your keys are always yours and yours alone.

How much fees asked there for simple BTC to ethereum convertion ? Is this one working the same as shapeshift where you only need to transfer amount and you will recieve it in provided address .i use that website in early 2017 when they are not requiring kyc for easy trade but not now. Is that exchange also asking to be verified with identity required?


Can you also trade in that exchange from ethereum to BTC and vice versa?

True, however the overall volume was pretty impressive before they even started stress testing considering it was in closed beta. I'm sure the simplicity of the DEX has a lot to say. Convenience plays a huge factor when you look at an exchange and how successful it really is. Uniswap is a great example of that, despite slow and expensive.

I can attest that, at least so far, volume has not affected the speed of LN swaps in any way.
The busiest 24h trading volume days guaranteed swaps that were just as fast as the slowest. 

I think most of that volume is bot stress testing, so they can push the lightning network more and see what it is capable of. This also allows them to show that lightning can scale.

Well, the DEX volume has  increased a lot the past few months, more and more people trades on their platform, and I'm sure as soon as ETH is integrated that a LOT of Uniswap users will move over to a cheaper and faster alternative 

Sounds awesome! Thanks

This is definitely on my watch list!

X9 has been working on integrating ETH private keys into the DEX since mid-Summer at the latest. They announced that it was coming to private builds at the start of this month. I wouldn't be surprised if we saw it by EOY.

Been reading about this project on 4chan/biz as of lately. Been seeing a lot of FUD, but nothing with much substance in it though.

What's the timeline for connext to be integrated into their project? It looks quite promising.

XSN decided to go with Connext instead of Raiden because it is stable, you can use real ETH instead of wETH and they actively work towards 3rd party integration.

According to the Connext devs, ETH interop has been running in production for 3+ weeks with 0 downtimes.

Never really heard about this project before, but sounds pretty promising. Have they made successful ETH swaps on The Raiden Network yet? That's all I want to know 

This project looks super fucking slick, not gonna lie.
It's pretty sad to see it lacking bigger exchanges, but if the DEX itself can get enough users, I guess it could be Stakenet's main exchange. Interesting 

Something about this statement just seems fishy. If you truly want to help out the project, you wouldn't be charging money to do so. You're better off messaging the devs personally though Discord, as they aren't reading these threads here. They've got more important stuff to do.

Actually mate this was being mentioned already in this post months ago and Here it is..


But seems like Stakenet Is making updates and progress for their supporters to look at?

Considering this Coin as target for my incoming investing once I received my 13th month pay and all of those will reserve for Crypto investing.

Stakenet is really a great DEXs platform that can support Defi projects, but at the moment Stakenet doesn't have many real users. Although the above articles are quite complete about the introduction of features and technology of Stakenet, that is not enough. It's best to create a bounty campaign and do AMA in communities in which you feel important.
So if you want to do AMA in large communities please contact me, I am managing a sizable community of about 13k people and lots of Vietnamese KOLs.
My telegram username: @ payheree88
Don't hesitate to PM me to get the big discount.

True, and Stakenet is 2 years ahead of everyone else, as they started working on this in 2018.
For instant trading to be feasible on a REAL DEX, you need to make use of second layer transactions.

Looks like the orderbook monitor got a nice new coat of paint the other day. Pulling almost 2x the volume too 


Agreed. There are dozens of competitors at this moment in time. Whoever creates the DEX with a Uniswap-like interface, quick swap times, low fees, and near-zero swap failure rates will own this market.

I have been waiting for a DEX that can do everything for a  long time, and yet I am not happy with what we have got and it is obvious the community agrees with me as they keep using CEXs, I really hope at this point that someone does it, we do not really need that hundreds of exchanges pull it off, as soon as one project is able to create a very good DEX the rest will know how to replicate it if it is open source and that is when a new era in this market will begin as we will not depend on CEX anymore to exchange our coins.

Join Stakenets Discord server: https://discord.gg/cyF5yCA

Next download the DEX - It's extremely user friendly, a website version will be available at full release, however YES, they can easily become the BIGGEST DEX in the world, since instant virtually feeless trading among BTC and ETH is every traders wet dream

You think stakenet can pull this off?

Uniswap was easy to make, since it's "just" an ETH-based DEX.
To pull off a DEX like the one Stakenet is being, takes 10x more time, but once it's successful, it will absorb a LOT of volume, due to convenience alone.

I feel the same way. The idea is among the greatest I've seen, and the profits are endless in terms of nodes taking profits on the daily DEX volume. 

The more stable and smoothly the DEX can handle liquidity at $18k volume/day, the more it will do so at $100k or $1mm imo.
My first and foremost hope for this DEX is that it will be the fastest, cheapest, free-est, most secure way to hold funds and swap into other assets. 
We want a world-class DEX.

Stakenet is holding back marketing until they've got a fully functional DEX, with at LEAST BTC + ETH functioning 100%.

Marketing a buggy DEX isn't the best decision IMO.

I do believe that this DEX will be used by millions of people in the future though, which is why I'm trying to get as much masternodes as possible before it happens!

I haven't used it myself but I have heard great things about stakenet so far, they are really improving the way things work right now and if they can achieve (which they look like they are) this is going to change a lot of stuff from current state and everyone will try to copy that. Which is their problem, they lack marketing because they are doing something for the first time and they are the creators and owners of this right now, but when they succeed everyone will do the same and will make sure they get more exposure and investment.

You think uniswap is the first ever dex? It is certainly not, but they were the ones that did amazing marketing and they got famous while first ones are long forgotten. This is why I believe it is highly important that stake does marketing better.

I have seen it not just a few weeks ago but around months that the volume was low. So if stakenet has increased in volume, this only means that all the marketing that the team is doing is working.
I guess I have another exchange to try and hope that I'll be having a smooth transaction on it.

Just a few weeks ago, the DEX only had a few hundred dollars in volume. It's good to see it moving up so quickly! Swaps are just as fast as they were before. 

I suppose one of the biggest challenges will be whether or not Lightning swaps hold up in terms of integrity and swap success rate when there's much heavier trading volume (i.e. millions).

The key here is "convenience". Anyone will be able to understand how it works, It's gonna be Uniswap on steriods, as transactions is instant, and very low on fees, which is why so many people are complaining about the platform all the time.

More and more volume is shifting towards decentralized exchanges, so there is TONS of liquidity available in the future.

It's been in open beta for less than 11 weeks and it already went from doing a few hundred in volume to 5 figures in USD.
The Simple Swap UI ('SSUI' for short) is looking great and increasingly more stable.

All one must do is:
1.) Open Stakenet Wallet
2.) Deposit BTC
3.) Click the 'Swap tab'
4.) Choose the coin of their choice (LTC/XSN/ETH-ERC coming soon)
5.) Execute the swap.

It automatically moves your Bitcoin to a LN channel, executes a Lightning atomic swap into the coin of your choice, then closes out the channel.

Completely non-custodial! No 3rd party will ever have ownership in any way of your funds. They are yours and yours to swap. 

Stakenet is by far one of the most promising projects I've seen as of lately. You'd have to have followed the project to truly understand it's potential, but I'll try to explain it briefly here.

Stakenet is working with 2 second layer protocols - The Lightning Network, and The Raiden Network. Both of these protocols makes BTC and ETH transactions instantaneous

Here's what they've achievved thus far:

1) They helped the Litecoin team with Lightning Network integration on the LTC chain.
2) Stakenet is the industry leader in terms of Lightning Network developments, building and improving the technology in a way that benefits everyone - Investors as well as consumers. Their new Lightning DEX, which is an integrated part of a multi currency wallet they've been working on for the past year is bound to be a huge success for the following reasons:

Speed
Ease Of Use
Option To Hold And Trade Multiple Coins
Trade Through Binance, Bittrex, Kraken and many other exchanges WITHOUT ever logging in to any of these exchanges.
- This is done through liquidity providers who runs trading API's anyone can tap into and use for their own, as well as the liquidity providers benefit.

The whole eco-system is ran by masternodes, who will do the dirty work (routing transactions back and forth over the Lightning Network + The Raiden Network), this means that Lightning + Raiden node operators already have an incentive to keep them running, since the masternodes is profitable to run from the get-go already.

USDT, Ethereum (and it's tokens) will be integrated as well.

This is just a small, yet important part of Stakenet.

Stakenet invented cold staking, which means that you can stake XSN through their "Trustless Proof Of Stake" protocol.

Please do yourself a favor, and watch this small presentation video which demonstrates how the DEX actually works:

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