AtomicDEX is built on the industry’s most advanced peer-to-peer mobile-first atomic swap protocol. It lets you trade any coin to any other without sending your assets to an exchange first.
The vision of cross-chain atomic swap technology is three-fold:
- Make blockchain industry more secure.
With atomic swap technology, we can avoid hacks by letting everyone stay in control of their own funds. Hacks will still happen, but only against individual persons who use a compromised device.
- Empower developers to build convenient crypto apps.
With trustless atomic swap technology, the exchange process can be built right into any product or service. The end result is a more seamless user experience.
- Bring transparency for trading
All trades happen on the blockchain and can be validated. The use of atomic swap technology will reduce wash trading and other forms of artificial volume inflation.
What follows is a transcription of the AMA held on Komodo's Discord on August 7, 2019.
What is the timeline for AtomicDEX desktop version?
We are planning to release the desktop version on end of 2019 / early 2020.
Have you thought about adding custom layout features to the application?
We have not planned such a feature yet but feel free to submit a feature request.
It would be nice to see the market rate of the orders, and how much the bid price is off the market price. Also, if we can have an idea of the orders placed to know what is the current liquidity of each coin.
Market rate vs. actual rate is a good idea. Thanks for the input. Orderbook volumes are already visible.
How quickly can new ERC20 tokens for swapping be added?
Most ERC20 tokens are compatible with AtomicDEX and using them with the AtomicAPI (the open API for AtomicDEX) is trivial and possible independently of our official listing. Adding ERC20 tokens to
AtomicDEX mobile is a semi-automated process and does not require any development work.
ERC20 coins can be confirmed compatible in command line given some parameters and posting a test swap in the repo at https://github.com/jl777/coins
If 5 different projects are using the AtomicDEX back-end software (MM2), do they all have the same basic DEX fee and are the DEX fees from all those projects used to purchase KMD?
Yes, they are all using the same protocol - i.e. resulting in same fee logic. And those fees all get converted to KMD.
Will you incentive traders for making trades?
Our marketing team is working on different campaigns to incentive traders.
Are there specific plans in place to have good liquidity for when AtomicDEX is out and usable for everyone? I read that there are plans to use CEX API-s to enable more liquidity.
We are working on an application called “Antara MakerBot” which basically is a system to automatically spin up orders with a variety of configuration options like targets, margins, spreads, automatic price-update based on CEX, and much more.
This system will contain a CEX gateway that could feed the decentralized exchange (DEX) order books with the CEX liquidity pool. That's a technology that is already proven to be compatible with AtomicDEX mobile and our DEX engineers are actively working on it (not just plans but rather in active development).
Furthermore, does AtomicDEX mobile now offer the option to create (limit) orders regardless of already existing orders which turns the app a mobile LP/market-maker tool.
The bigger vision and our general goal is to use AtomicDEX as a bridge between all CEX and DEX networks to ultimately craft a unified liquidity pool.
Is it possible to add a lending contract for margin trading?
PegsCC is currently under development and will have required functionality - PegsCC pegging KMD to stable KUSD coin. PricesCC, another Antara Module, is for margin trading.
Will direct private trading be possible with AtomicDEX through private needs created on private nodes (not created on AtomicDEX)?
AtomicAPI allows making custom trading networks by netid parameter changing, but some basic infrastructure (seed nodes) is needed.
When will AtomicDEX be ready for release on the App Store?
AtomicDEX mobile is already available for Android and iOS. The iOS beta program is held on TestFlight. If you haven’t received an invite, please register for the Beta here: https://atomicdex.io
Will the AtomicDEX support Ledger at some point?
We do plan to integrate HW wallet support in the near future.
How is it different from the newly proposed Decred DEX? They are both based on Atomic Swaps?
Komodos technology is a 3rd generation, production-ready and platform-independent cross-chain atomic swap protocol powered decentralized exchange technology while Decred is still in the conceptual/development stage.
At the moment dex doesn’t look good from the UX/UI, design point of view. Looking at dex now I don’t see many users using it and I am sure we will face liquidity issues. What is the plan?
We are currently in phase 1 of our testing. UX/UI and final feature testing and requests will be the focus of phase 3 of testing.
And what about timelines? How long phase 1 will last, phase 2 and 3?
The goal is to release for general availability once we've met all our testing targets and we have a production-ready product with a strong liquidity strategy in place.
Do we have access to our private keys from the wallet?
Yes, the seed you use can be transformed into a privatekey format. The seed is also compatible with Verus Agama (for example) and it is accessible from within AtomicDEX mobile - visit Settings->View Seed
Will coin communities that have a big user base but lack being a base trading pair on exchanges be contacted to possibly create their own version of AtomicDEX with their coin as a base pairing?
Yes, our business developers and PR experts are actively reaching out to various communities for such collaboration and "DEX-partnerships"
At what stage in the development process would Komodo like to see interested projects join in?
Actually, now is the right time - it is an official beta which means we still fix and optimize things. This is the stage where we are still able to modify fundamental layers in the DEX core/protocol but also on the UI/UX side and general system architecture and design. If you are around in other coin communities please do suggest them to join this beta program and to sign up for the beta. The user feedback is the most valuable thing that devs get from a beta program.
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