DeGate DEX Launches Mainnet Beta, supports limit orders and grid trading
We are beyond excited to announce the much-anticipated DeGate Mainnet Beta Launch. Our focus on users has driven us to develop a platform that enables users to “Trade Easy, Sleep Easy.” After month upon month of hard work, Mainnet Beta officially launches today. For the first week starting today, only DeGate NFT holders will be able to access DeGate Mainnet Beta. Thereafter, DeGate DEX protocol will be open to the public, subject to safe deposit limits.
Mainnet Beta: the Final step before Full Public Launch
Although we have long been in Testnet on Ethereum, with tens of thousands of wallets having tried the unique self-custodial limit order capabilities of DeGate at no risk, we have been hard at work to perfect the product, especially ensuring security for all users. Our maximum focus on Trustlessness and Security is to ensure that users can have a smooth trading experience without the risks of a centralised exchange.
We’ve come so far to reach the point where we are proud to present our Mainnet Beta to the community. Should there be no critical errors in the code, this version of DeGate DEX will be launched as the Mainnet within months. DeGate Mainnet Beta is dedicated to inviting early users to stress-test DeGate DEX and be among the first users to use the protocol on Ethereum mainnet.
- Major features of DeGate including limit order trading and grid trading will be available upon launch. A particular focus will be on the ETH/USDC trading pair
- The deposits to DeGate smart contract will be capped to a total amount (Total Value Locked or TVL) of US$3m during the Mainnet Beta period, no more users will be accepted after this limit is reached. As a mark of commitment to users, DeGate DAO will guarantee losses up to this amount of US$3m should any losses be caused by the product
- The above is subject to the condition that individual deposits will be guaranteed by DeGate DAO at up to US$5000 should any product-only issues arise that lead to loss of funds for individual users
- What this means is that users who want to test DeGate can do so with security by putting in US$5000 or less during the Mainnet Beta period
- To commemorate DeGate Mainnet Beta launch and appreciate DeGate early supporters, DeGate has conducted the Early Adopter NFT Pass campaign. The NFT holders will be able to access DeGate Mainnet Beta upon launch, with access open to the general public one week after
Trade Easy, Sleep Easy
As a firm believer in the Ethereum ethos of Decentralisation, DeGate is built on the bedrock of Ethereum values. DeGate’s guiding principles of “permissionless, trustless and decentralized” permeate the product and community. DeGate decentralized exchange allows you to trade with a similar experience to a centralized exchange, except that you are in full custody of your funds.
During Mainnet Beta, the focus will again be on stress testing DeGate in a controlled environment with a maximum “safe limit TVL” to ensure maximum security for users’ funds. No further funds will be accepted after this limit.
A Brief Recap of Our Journey
The poet T.S. Eliot said it best when he wrote: “We shall not cease from exploration. And the end of all our exploring will be to arrive where we started and know the place for the first time.” From the beginnings of our first white paper, we have wanted to create something of value for the community, something that people would want and need to use. We are standing on the shoulders of other members of the welcoming Ethereum community, who have paved the way for a new kind of DEX. We have built on their work with an unwavering dedication to user experience, low fees, and security. This exploration has led to what we believe is a robust product that will stand the test of time. The time has now come.
Here are just a few of the milestones in our Journey,
- Release of the DeGate Whitepaper, arguing that a decentralized orderbook DEX was technically feasible with Zero-Knowledge technology, and would fill a critical need for the Ethereum community
- Initial Balancer LBP offering, and Social Network based token offering
- A community service Asset Bridge linking Ethereum and Arbitrum, with no fees taken by DeGate
- Launch of Testnet with over 60k connected wallets
- Engaging with the global crypto community at events like ETH Denver (link), DevConnect Amsterdam (link), Paris and Amsterdam Blockchain Weeks (link), and more
- Regular updates on our progress, achievements, and future plans through monthly update articles and the @DeGateDEX Twitter account, Discord, Telegram and other communities
- Completion of the ZK-Trusted Setup Ceremony, ensuring the highest level of security for our users (link)
- Launch of a $1.11M Bug Bounty Program on Immunefi, further demonstrating our commitment to platform security and robustness (link)
- Hosting of the Early Adopter NFT Pass Campaign to reward our loyal and dedicated community members (link)
And much, much more. But this is just the beginning. We look forward to a long and fruitful future as we grow and evolve with the community, always committed to making something people want to use.
A word of thanks, and an eye on the Future
At the time of our Mainnet Beta Launch, we want to express our deepest gratitude to our community for your unwavering support and faith in our project. Your belief in our vision has fueled our commitment to delivering a next-generation DEX experience that embodies our key message, “Trade easy, Sleep easy.” We look forward to welcoming you to the DeGate platform, where you can enjoy a secure, efficient, and user-friendly decentralized trading environment that prioritizes your needs and peace of mind. Together, let’s support the growth of a healthy, decentralized Ethereum Community with an Ethereum Native Orderbook DEX, and create a brighter future for all.
Finally, we encourage you to enter the future today by using our Mainnet Beta to Trade easy, Sleep easy.