Link to original article: https://medium.com/duckdao/duckdao-stakenet-xsn-partnership-4a2a6e077aeb
DuckDAO is excited to announce a partnership with Stakenet, an innovative cross-chain payments solution. DuckDAO has always had an eye for innovation and future market trends and that’s exactly what Stakenet is all about, making them ideal partners.
Right now the industry is struggling to cope with on-chain congestion driving up transaction/gas fees to astronomical levels making trading very expensive and this is where Stakenet has the solution.
As Stakenet is rapidly approaching the launch of their all-in-one solution, a Layer 2 Lightning Decentralized Exchange (DEX) which runs entirely on their community-run master node network. Built into the DEX is a non-custodial multi-currency wallet.
DuckDAO is excited to work together with Stakenet on what will be a truly pivotal moment for the industry.
The partnership with Stakenet will enable DuckDAO to embrace their cutting-edge technology and list DuckDaoDime (DDIM) and DLP Duck Token (DUCK) on the Lightning DEX when it’s released.
As a result of this partnership, we will be able to support our community with confidence in their layer 2 migration, how to use token bridges, and more. The educational content will empower our community and enable us to focus on the future.
Stakenet has built a true next-generation DEX solving many of the issues that currently plague the DEX industry, such as ever-increasing costs and transaction times. Stakenet has built their DEX from the ground up using time-tested Layer 2 technologies such as the Lightning Network and Connext Network.
Using Stakenet’s technology it’s possible to make a layer 2 instant swap between BTC and USDT, and that’s just the beginning. Their tireless efforts have rendered them irreplaceable for crypto.
Key highlights of Stakenet’s Layer 2 DEX:
- It provides instant and virtually feeless cross-chain trading.
- Users retain full custody of their funds at all times as they own the private key for their wallet.
- Projects and users can run their own hub of the DEX which adds further liquidity to it and can support their chosen currencies.
- “Vortex” enables the DEX to share liquidity with other exchanges, both centralized and decentralized.
- It is run entirely on their decentralized Masternode network.
- The community members who run a master node will earn a share of the fees earned from the DEX.
Layer 2 allows Stakenet DEX users to trade faster, cheaper, and more privately than any other DEX available today. Professional trading tools can also be used on Stakenet DEX opening the door for decentralized high-frequency trading. With Stakenet DEX there are only two “expensive” on-chain transactions. Moving your funds off of their main chain to Layer 2 and moving them back on-chain to their main blockchain. Once off-chain, there are no on-chain/gas fees and transactions are settled instantly making it ideal for high-frequency trading.
With more users going towards Layer 2 solutions, Stakenet is a great choice because of its inevitable connection to all other chains. They’ve ensured their long term survival because of Bitcoin’s lightning network infrastructure. Any other project that implements the lightning network is instantly compatible with Stakenet.
Stakenet utilizes their arbitrage/liquidity mining functionality dubbed “Vortex” by their community which is connected to any Centralized Exchange (CEX) or Decentralized Exchange (DEX) that allows API access. Vortex allows users to trade on the DEX and access the liquidity within the other exchanges order books, such as Binance, by utilizing the instant transactions to complete orders on the opposing exchange with confidence.
Find out more about Stakenet at: https://stakenet.io/
DuckDAO is a community-backed digital asset incubator that provides promising hand picked crypto startups with expertise, financial resources, and marketing power needed to fast track their progress on the path to success.
DuckDAO plans to work with Stakenet as a Liquidity Provider for the DEX as well as marketing and community support.
Find out more about DuckDAO at: https://duckdao.io/
Who will win? One VC or ten thousand ducks?