We’re expanding our support for Graphene based chains by creating gateways with 0% market fee on Bitshares DEX. So far we’ve launched the following Graphene based gateways:
Today we’re glad to present another gateway to a blockchain that was launched fairly recently: Scorum.
Scorum is a sports platform with blogs and analytics on the blockchain. Currently approximately one billion people make about 8.5 billion visits to sporting websites. Those sites are full of advertisements and bad UI. Scorum provides a platform where your love of sports is incentivised. Every user can receive tokens for their activity on the site.
As usual we’ve set the market fee for RUDEX.SCR to 0%.
Trading SCR 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% trading fee for RUDEX.SCR
- Active development and support for the gateway and rudex.org entry point by the members and witnesses of Scorum.
- Telegram based trollbox
- 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:
- Transparency and ease of audit
- Strict correlation between amount of tokens in the wallet and on the DEX
- Minimization of the fees
- Ease of use
As always one of the goals during the gateway creation was an ability to publicly audit it.
As you probably noticed that recently we registered RUDEX.SCR assets on the Bitshares blockchain.
According to our last point, the amount of SCR on DEX will be the same as the amount of SCR that the gateway has on Scorum 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.SCR) is de-facto equal to the amount on our wallets. For SCR it is rudex wallet.
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:
- rudex for our wallet on Scorum
Our goal was not only to create a convenient instrument for people to use, but also move towards more decentralization, since more gateways the DEX has, the less centralization around any one of them.
One of the features of our gateway that makes it different from the existing ones, is that as a Graphene ambassador, we’re setting 0% market fees for chains based on this technology. We can afford that from the witness payments that we receive. If you like what we’re doing please vote for us!
Short guide on using the gateway
In time we’ll also create gateways for the coins that we consider the market is going to be interested in, but for non-graphene chains, those markets will have some minimal market fees.