📢 EOS gateway on RuDEX launches on 2018.06.24 0% market fees

in blockchain •  5 months ago

EOS-ANN.png

Yassou, traders! There was a really important event on our crypto island. Our friendly neghbourhood sea devils delivered an EOS gateway to its shores. Yup, it appeared right out of the sea foam. We’re actually considering this fact as important, as the creation of Bitcoin gateway last month. Especially considering that out of 30 exchanges that allow trading EOS, only 3 have opened deposits/withdrawals, and Bitshares RuDEX is fourth, and the first DEX to have a working gateway.

As usual, trading EOS on RuDEX has several advantages over trading them on centralized exchanges. Here are the main ones:

  • An ability to trade against completely decentralized assets (bitRUBLE, bitUSD, BTS, etc)
  • 0% market fees
  • Telegram based trollbox
  • Ease of on/off-ramping into fiat
  • Only you control and can access your account and funds
  • The Bitshares based exchange can’t close be blocked (with desktop applications for all popular OSes allowing you to connect even if the site is blocked)

During the design of the gateway we were aiming to ensure the following parameters:

  • Security
  • Independency
  • Transparency and ease of audit
  • Minimization of the fees
  • Ease of use
  • Stability
  • Strict correlation between amount of tokens in the wallet and on the DEX

According to our last point, the amount of EOS on DEX will be the same as the amount of EOS that the gateway has on EOS blockchain. The gateway is set up so that the amount on the DEX can be smaller than on our wallet, but it can’t be higher. So you can always be sure that money never appears on the DEX out of nowhere.

Here is how it is implemented on the Bitshares side:

  • when you deposit your tokens to the Bitshares network, the required amount is issued
  • when you withdraw the tokens, the required amount is burned
    That way the amount of UIA tokens (RUDEX.EOS) is de-facto equal to the amount on our wallets. For EOS it is rudexgateway wallet.

AUDIT

In the future our gateways would have a stand-alone section for auditing them on rudex.org. But for now you can use the following services:

Short guide on using the gateway

How to deposit EOS to RuDEX

DEposit.gif

How to withdraw RUDEX.EOS from RuDEX

WTRDW.gif


If you are holder of OPEN/GDEX.EOS you can withdraw via our gateway them without waiting for them to open their gateways, by exchanging them on the market:

https://market.rudex.org/#/market/OPEN.EOS_RUDEX.EOS
https://market.rudex.org/#/market/GDEX.EOS_RUDEX.EOS

The next step is to add an ability to withdraw EOS to new accounts for an account creation fee. We hope that would allow us to become one of the 1st EOS faucets.


If you like what we are doing, please support our BP Candidacy


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it makes you think!

BTC swaps and now this. Hah, you are the brightest future - re gateways on DEX :)

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Our BTC gateway isn't based on swaps, but otherwise...

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Sidechain :)

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yarrrs

Coins mentioned in post:

CoinPrice (USD)📉 24h📉 7d
BITUSDbitUSD1.094$-1.65%-1.08%
BTCBitcoin6074.460$-2.89%-8.95%
BTSBitShares0.129$-6.98%-18.72%
EOSEOS7.442$-8.58%-28.4%

Excellent!

Congrats!

Do you have Steem listed on your exchanges? Or just glorified tokenz?

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yes we have steem and sbd also with 0% market fee
You can see the announsment of this gateway HERE

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Thanks for the info, i appreciate it.

That's very cool actually. Great job!

Hello blockchained, this sounds great I love the idea of being able to see your exchange account on the Blockchain!

This is one of the areas that other exchanges need to be taking seriously.

According to views expressed to us by the supporters of the new "EOS BP Watchdog Facebook Group" (https://www.facebook.com/groups/2126596997583973/ ) this appears to be one of the top areas of contention at the moment, and gives the impression the Exchanges are running the show and going to be able to get away with doing so for the foreseeable future!

Maybe you should join the group and show your support as this is obviously something you guys take very seriously, hats off to you for that.

Best regards
Roger Davies
EOS UK
https://eosuk.io

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I always like decentralized tach. This is a great effort. Thanks

it's very great news

An interesting article. I subscribed to you. Subscribe to me, we will be friends

An interesting article. I subscribed to you. Subscribe to me, we will be friends

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