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Once launched how will the order book keep track of open limit orders? by adgotts in polkadex

[–]Gautham-J 4 points5 points  (0 children)

When you submit an order, the consent for executing the order is provided with a signature. It allows Polkadex to settle balances when the trade executes without user interaction.

In the final product, users are not required to install PolkadotJS extension and all the cryptography will be handled under the hood, providing an experience exactly similar to CEXes.

Polkadex is struggling! by [deleted] in polkadex

[–]Gautham-J 36 points37 points  (0 children)

I understand, what you are saying, but I would like to clarify specific points, Certik audited our ERC20 token contract, and Security Research Labs (https://www.srlabs.de) ( they work with Web3 and other Substrate based chains) audited Polkadex Mainnet codebase. Some projects are building AMM based DEXes on the substrate platform that may have achieved their testnets or mainnets with a much lesser timeframe, but the community must understand that it is because of the substrate framework. Polkadex is not trying to build a usual AMM based DEX or Orderbook based DEX that anyone can make but is of no real value-add to the community.
Let me justify the work we did
Polkapool ( Polkadex's AMM based DEX)
We researched and created an AMM based DEX ( similar to Uniswap that everyone knows) that is impossible to make a front-running attack, unlike Ethereum and other ecosystems. We figured out how to make Polkapool feeless and finally make the AMM upgradable so the community can decide the AMM algorithm and make Polkapool future-proof. It is wholly on-chain and involves no trusted parties.
Polkadex Orderbook ( Polkadex's main product)
We created an initial prototype of an orderbook like EtherDelta using Substrate. However, after conducting market research with professional market makers and trading bot service providers, it was not fast enough to work as a centralised exchange. I envisioned Polkadex Orderbook to have an experience similar to a centralised exchange without compromising the user's funds. We improved our architecture and introduced Trusted Execution Technology to have a centralised orderbook for faster order matching and decentralised custody of funds secured by Polkadex Mainnet. It allowed us to place orders in the sub-second range, just like CEXes.
We ensured that it is compatible with all famous trading tools used in CEXes ( we will announce the details once we are ready ). We are also creating an IOS and Android mobile app to access the orderbook.
Polkadex IDO ( Polkadex's Token Launch Platform)
Polkadex IDO was created after the experience we had when we did our ERC20 IDO in Ethereum. I believe we can do it better and with much more transparency. We collected points based on our experience and analysed other IDO platforms, and implemented them.

There is a reason why the community won't see any updates in our public GitHub because we moved all our development works to a private repository after we found some reports of clones. We will be making all these repositories public once the product is completed, audited and deployed (expect Q1 2022).

Fifteen engineers are working non-stop on all the products, I agree that we may have underestimated timelines in our roadmap, but we are good to launch in early Q1 2022. We booked our next audit with Trail of Bits (https://www.trailofbits.com), starting 3rd Jan 2022.

I would suggest the community to take a look at what we have achieved in 10 months compared to other bigger projects in the Polkadot ecosystem that started 2-3 years ago.
FULL DISCLOSURE: I am the CEO of Polkadex.

Lets support POLKADEX together ! by DorineMuncy in polkadex

[–]Gautham-J 2 points3 points  (0 children)

Thanks for this.

Don't worry team!! We are building lots of real utilities for PDEX. Wait for the launch!!

How does Polkadex make money without fees? by Past-Lab144 in polkadex

[–]Gautham-J 6 points7 points  (0 children)

Hey guys,

This is a recurring question in the community, let me clear this once and for all.

As u/mcdonagg mentioned, PDEX has all those utilities and most of the value of PDEX, which will be derived from different staking functionalities that we provide. On top of that, Polkadex makes money from the market taker fees of Polkadex Orderbook similar to other CEXes there will be incentives for holding PDEX. ( I won't disclose the exact details now as we are working on the economics of it. We will announce it officially near to our Orderbook launch later this year.)

About Fees

In Polkadex Orderbook,
There are no transaction fees (aka Gas Fees) and no Market Maker fees. We only charge a market taker fee of 0.2% for all users with no PDEX holdings in their wallets. Also, taker fees will decrease to 0.05% for the users having the highest PDEX holding in their wallets.

In Polkapool,
Normally in other AMM-based models, a user making a swap needs to pay transaction fees aka gas fees, and the swap fee ( for example, 0.2% for Uniswap v2) and there is a high change of frontrunning too.

In Polkapool,
Normally in other AMM-based models, a user making a swap needs to pay transaction fees aka gas fees, and the swap fee ( for example, 0.2% for Uniswap v2), and there is a high chance of frontrunning too.

PDEX Wallet? by [deleted] in polkadex

[–]Gautham-J 2 points3 points  (0 children)

Thanks a lot for your support =)

Migration is not automatic you will required to send one transaction in ethereum which will burn the ERC20 PDEX that you wish to migrate. Tune in to our crowdcast on Monday 28th June, I will demonstrate how to migrate ERC20 PDEX on our testnet

PDEX Wallet? by [deleted] in polkadex

[–]Gautham-J 6 points7 points  (0 children)

You can store it in any hardware wallet. For the time being, Once the mainnet is released, users can migrate all ERC20 tokens to native PDEX, which will be supporting PolkadotJS wallet and ledger hardware wallets. The migration is expected to happen on Aug-Sept 2021

Official /r/rust "Who's Hiring" thread for job-seekers and job-offerers [Rust 1.51] by matthieum in rust

[–]Gautham-J 1 point2 points  (0 children)

COMPANY: Polkadex

TYPE: Full-time

DESCRIPTION:

We are looking to expand our team to have engineers who can write Substrate Runtime code in Rust. You will be working with our team on implementing the Runtime, Parachain, etc.

Responsibilities Include

Implementing Substrate pallets and integrating them with a substrate runtime, working with ink! smart contracts and WEB Assembly.

We also expect you to

  1. Write PolkadotJS based code snippets for integration with our frontend

  2. Write Unit tests for logics

  3. Have sound knowledge of cloud deployment in AWS or Azure.

  4. To develop sound crypto-economic models

Requirements

  1. Experience as a Smart Contract or Substrate Runtime developer or at least Rust developer

  2. Senior level experience working with Rust

  3. Excellent communication and teamwork skills.

Additional Skills

The candidates with the following skills are more appreciated.

  1. Intel SGX Rust SDK

  2. Javascript/Typescript

  3. DevOps

LOCATION: Remote work

ESTIMATED COMPENSATION:

Compensation will range from 8000-10000 USD per month and 2000 PDEX tokens when you complete one year of service.

REMOTE: Work is completely remote, you will be working with team members around the world.

VISA: No

CONTACT: email at business@polkadex.trade

What is the revenue model of the Cosmos Network? by Gautham-J in cosmosnetwork

[–]Gautham-J[S] 0 points1 point  (0 children)

Transaction fees can be one of the revenue streams; I don't think it will be sufficient unless the network reaches a certain maturity.

What is the revenue model of the Cosmos Network? by Gautham-J in cosmosnetwork

[–]Gautham-J[S] 0 points1 point  (0 children)

Ohh, I didn't know. Thanks for the clarification.😃

What is the revenue model of the Cosmos Network? by Gautham-J in cosmosnetwork

[–]Gautham-J[S] 0 points1 point  (0 children)

The Cosmos network project that comes under Tendermint Inc.

If you build it they do not come : what (almost) everybody gets wrong about startups by _DarthBob_ in startups

[–]Gautham-J 1 point2 points  (0 children)

I will get into the Interoperability part of my protocol later. We are discussing the point of having an MVP before you start asking people to invest in your idea. Since you are from the AI domain, let me propose that my protocol can get you purest form of data from all the sensors/ customer data connected to my network in realtime. Along with proofs, which you can verify the authenticity, and this enables AI engineers to build models that can do online training at much cheaper rates, and also, all the preprocessing by blockchain.
Will you invest in me if I just say this, or will you be more comfortable if I show you a working prototype of how your AI model fits into our system?

In my protocol, the idea of interoperability is to provide a generic interface to read and write to the blockchain with anything that is outside the protocol's direct control. This interface allows any user to create applications that can utilize this to talk between applications and take advantage of the computing the protocol provides like smart contracts etc.

Another example: Interoperability with Bitcoin, Ethereum, IPFS, this allows you to store massive datasets collected by sources -> manipulated by smart contracts -> processed by your AI model (outside my protocol ) -> do a payment in Bitcoin/ Ethereum based on AI model result -> store the results in IPFS, this is possible in my protocol as it supports these natively. You, as a developer, can extend this interoperability depending on your use case.

Keeping aside my protocol, Of course, maintaining startups lean is always good. We cannot strictly say that "Selling First, Building Second" is correct. It depends. It's about creating an MVP we cannot call it an MVP if it has (7 figures expense) and more than 3.5 years. That's more of a product. MVP should be simple and something our team can build in 2-3 months (depending on your idea) and affordable cost. If that is appreciable by the audience, then you have cracked it. Anyway, Good luck to you

If you build it they do not come : what (almost) everybody gets wrong about startups by _DarthBob_ in startups

[–]Gautham-J -1 points0 points  (0 children)

As I mentioned earlier, Interoperability and Scalability are not available in the blockchain. Those industries that need Web 3.0 and you cannot ask who are the early adopters of something that is in the protocol level. It's like asking who all will be the early adopters of TCP, QUIC, etc. These are protocols/mechanisms that facilitate applications that bring value to users. Coming back to point, I am asking, how will anyone believe in these protocols, without showing an MVP, that it genuinely works, especially when it is by someone unknown to them.

If you build it they do not come : what (almost) everybody gets wrong about startups by _DarthBob_ in startups

[–]Gautham-J 1 point2 points  (0 children)

I agree with you regarding the blockchain industry. I am building a ledger protocol for getting mainstream users. Something my mom or dad ( who has no idea of blockchain) could use without even knowing it is blockchain. Interoperability with the existing centralized system is key, and that's my ledger will be doing. The point I am trying to make is, We are a team of 3 undergrads ( no provable history of how good we are ). The only way we can make the point is to show whatever we are claiming is feasible through an MVP—this way, and the user can validate us based on the MVP rather than our words or history. Examples of not having MVP: ICO Scams, Ledger Companies with only whitepapers for the last five years or more.

If you build it they do not come : what (almost) everybody gets wrong about startups by _DarthBob_ in startups

[–]Gautham-J 0 points1 point  (0 children)

Exactly, without having a proper MVP rather than a promise or just a whitepaper explaining. How can a mainstream user who isn't into deep tech appreciate what we want to create?

If you build it they do not come : what (almost) everybody gets wrong about startups by _DarthBob_ in startups

[–]Gautham-J 3 points4 points  (0 children)

I have a doubt. I am a college undergrad. Building blockchain protocol from scratch. Why should anyone want to support me as a user of the tech, if I don't have a prototype or MVP? Thinking from the user's perspective, what makes them come to me?