📢 TravelChain (TT) gateway with 0% fees for decentralized trading platform Bitshares RuDEX launched
Hello and Happy New Year!
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: TravelChain.
TT is a groundbreaking project in tourism industry, based on its own Graphene blockchain. TravelChain is aiming to level the travel market to bring value for small and medium scale players.
Travelchain brings its users best individual offers at all times, as well as allows safe information storage, as well as rewards for sharing it, that can be used to get goods and services from Travelchain partners.
As usual we’ve set the market fee for RUDEX.TT to 0%.
Trading TT 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.TT
- Active development and support for the gateway and rudex.org entry point by the members of Travelchain.
- 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:
- Security
- Independency
- 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
- Stability
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.TT assets on the Bitshares blockchain.
According to our last point, the amount of TT on DEX will be the same as the amount of TT that the gateway has on Travelchain 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.TT) is de-facto equal to the amount on our wallets. For TT it is rudex wallet.
AUDIT
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:
- TT@cryptofresh
- https://wallet.travelchain.io/account/rudex for our wallet on Travelchain
Our goal was not only to create a convenient instrument for people to use (we’re working on making it completely open source), 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!
Interesting project leading with a great idea!
Coins mentioned in post: