Kadenaswap Update December 2020
Rounding out the year with another quarter of roadmap milestones delivered on time, Kadena has deployed a live version of the Kadenaswap decentralized exchange (DEX) on testnet.
Check it out now at https://kadenaswap.chainweb.com/
What features are available in Kadenaswap Testnet?
This first phase deployment of Kadenaswap has familiar AMM-style DEX features including
-
swapping and pooling of available token pairs
-
fee rewards for liquidity providers
-
multiple signing method options including Kadena’s Chainweaver wallet support.
How do I use Kadenaswap Testnet?
Once on the DEX main page, you can (1) connect a wallet, (2) swap between tokens, (3) add & remove liquidity from pools, and (4) view pool stats.
Connect a Wallet
-
Select “Connect a Wallet”
-
Enter your Account Name, then select a preferred Signing Method
Swap between Tokens
-
On the Swap screen, select which tokens you want to swap From and To
-
Enter an amount to swap, then select “Swap”
-
View the Preview screen, then confirm by selecting “Send Transaction”
*Once executed, transactions can be seen on the Block Explorer
Add Liquidity to Pools
-
On the Pool screen, select “Add Liquidity”
-
Select a pair of tokens to which you’d like to add liquidity
-
Enter an amount to pool, then select “Supply”
-
View the Preview screen, then confirm by selecting “Confirm”
*To remove liquidity: On the Pool screen, select “Remove” then follow the signing steps.
View Pool Stats
- On the Stats screen, view live pool stats including token reserves and exchange rates
Helpful ecosystem tools
Why is Kadenaswap Testnet significant?
Kadenaswap’s support for multiple protocols and the ability to scale across the Kadena public multi-chain network will provide a much-needed, fully decentralized alternative to ‘CeFi’ on centralized exchanges and off-chain layer-2 solutions.
This first phase deployment demonstrates progress towards realizing a scalable DeFi platform with low cost and high throughput. With the launch of Kadenaswap Mainnet and additional features coming online soon, traders, liquidity providers, arbitrageurs and more will be able to extract value through the simple yet powerful platform.
What’s next for Kadenaswap?
As part of the testing process, Kadena has created valueless testnet tokens that can be used to test functions and scenarios involving tokens. Once this phase is complete, our aim is for Kadendaswap to launch in mainnet in Q1 2021.
Once in mainnet, Kadena plans to create a “Bounty Pool” of 100,000 real KDA tokens paired with a valueless token. If participants can hack the network to “steal” KDA, they keep the proceeds. In contrast to a standard bug bounty program, the honeypot structure allows for potentially larger rewards to “white hat” hackers.
We appreciate all community support in exploring the Kadenaswap interface, and welcome your feedback for creating a smoother user experience. Let us know what you think on our Discord or by emailing us at build@kadena.io.
