Palmswap

<h2 id="header-0"><strong>Introduction</strong></h2><p>From now on we would like to provide regular updates on our progress inbuildingourOnChainv1DEX.Therefore, we would like towelcomeyoutothefirst Palmswap updateblog.</p><p>We currently have three working testnets running in perpetuity. One serves as a developer playground, another one as a general testnet, and a third testnet for our community (<a href="https://testnet.palmswap.org/" rel="noopener noreferrer nofollow">testnet.palmswap.org</a>).</p><p>We are currently in the final testing phase, and together with the Palsmswap community, we are testing the new updates that will be released on the Alpha Mainnet.</p><h2 id="header-1"><strong>A summary of updates in Q4</strong></h2><h3 id="strong-order-execution-strong"><strong>Order execution</strong></h3><p>Update 1: Refers to the order in which orders are triggered.</p><p>Update 2: Relates to the logic for executing larger orders with a lower price impact.</p><p>Update 3: Keeper bots infrastructure has been improved.</p><h3 id="strong-initial-reserves-improvement-strong"><strong>Initial Reserves improvement</strong></h3><p>In a vAMM model where the liquidity is virtually provided (hence the &#34;v&#34; before the AMM), it is important to find a golden ratio for the liquidity. If the K (x*y) in the AMM axis is set too high, the price impact is low, but market-making becomes difficult. If the K is set too low, the price impact is higher, but market-making becomes easier. Consequently, it was important to form a healthy K.</p><h3 id="strong-market-making-arbitrage-bots-strong"><strong>Market Making (Arbitrage) Bots</strong></h3><p>A very important part of any exchange is the market-making model. We had to test many different strategies to offer our customers the best model. To support this, infrastructure had to be created.</p><h3 id="strong-distribution-of-the-trading-fees-strong"><strong>Distribution of the trading fees</strong></h3><p>The collected trading fees, minus affiliate commissions, will be kept in the &#34;Insurance Pool&#34; until the end of each month, after which 50% will be sent to the Buyback address, 25% to the Team Wallet and the rest will remain in the Insurance Pool.</p><h3 id="strong-fee-discount-program-strong"><strong>Fee Discount Program</strong></h3><p>Initially, we had a fee of 0.1%, which can now be reduced in several ways:</p><ol><li>By staking $PALM (up to -30%)</li><li>By reaching volume target (lowest fee level 0.025%)</li><li>When invited by an affiliate (-10%)</li></ol><h3 id="strong-improvement-of-the-faucet-strong"><strong>Improvement of the Faucet</strong></h3><p>The previous faucet has been improved to handle more transactions simultaneously with less downtime.</p><h3 id="strong-various-dex-ui-bug-fixes-and-improvements-strong"><strong>Various DEX UI bug fixes and improvements.</strong></h3><p>Among many different bug fixes, the onboarding process has also been improved. A new feature that has been added is the validation of the wallet to ensure more security</p><h3 id="strong-core-protocol-audit-and-audit-feedback-implementation-strong"><strong>Core protocol audit and audit feedback implementation</strong></h3><p>We implemented our auditor&#39;s feedback and made the protocol even more secure.</p><h2 id="header-2"><strong>We have also developed more robust developer tools to maintain and test the protocol, including:</strong></h2><ul><li>Better system monitoring.</li><li>More statistics in the admin panel that also track risks.</li><li>Mock trading bots that trade and undergo load testing.</li><li>More secure SC infrastructure. Automated on-cloud deployments.</li><li>Increased security</li></ul><p>In addition to the various improvements made to the On-Chain DEX, we have also worked together with our partner Apollox to release the hybrid exchange. Revenue from partnerships is 100% burned, to learn more about the Buyback&amp;Burn mechanism visit our last blog article: <a href="https://blog.palmswap.org/further-development-of-the-buyback-and-burn-strategy" rel="noopener noreferrer nofollow">Further development of the buyback and burn strategy.</a></p><h2 id="header-3"><strong>General Market Update and Recent Events</strong></h2><p>The events in the last few weeks have once again highlighted the importance of building open, transparent and fair financial products. We are pleased to announce that our On Chain V1 is a fully decentralized product and is driving the democratization of access to financial opportunities.</p><p>If building the future of a decentralized exchange and Open Finance sounds like something you&#39;d be interested in, check out <a href="https://angel.co/company/palmswap-1/jobs" rel="noopener noreferrer nofollow">Open Roles</a> at Palmswap.</p><p>For further questions, join the discussion with the Palmswap community on Telegram or Discord, or follow our Twitter account. We are very excited to continue building the On-Chain DEX and we will keep posting updates about each future milestone.</p><p><strong>Get In Touch with us</strong></p><p>&#x1f310; Visit us at <a href="https://palmswap.org/" rel="noopener noreferrer nofollow">palmswap.org</a> &#x1f310;<br />&#x1f4e9; Email us at office&#64;palmswap.org &#x1f4e9;<br />&#x1f4ac; Connect with us on <a href="https://discord.com/invite/B2EyhkQSZR" rel="noopener noreferrer nofollow">Discord</a> &#x1f4ac;<br />✈️ Join our Community on <a href="https://t.me/Palmswapchat" rel="noopener noreferrer nofollow">Telegram</a> ✈️<br />&#x1f47e; Find us on Twitter — <a href="https://twitter.com/Palmswaporg" rel="noopener noreferrer nofollow">&#64;Palmswaporg</a> &#x1f47e;</p>

Product Update & Milestones

Table of Contents

Palmswap

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