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During the last months, L2 solutions for scaling Ethereum (mostly) and Bitcoin have been a hot topic; due to the increase usage of cryptocurrencies, DeFi protocols and decentralized exchanges transaction fees became very expensive and a series of Layer2 copycat were deployed, all using the same system of bridges and wrapped assets.
In the past 2 years the Stakenet team worked toward finding a solution for this problem, combining the Lightning Network (L2 for Bitcoin) with the fast growing Connext Network (L2 for Ethereum, BSC, Polygon) allowing for a fast and virtually fee less ecosystem where native assets can be traded.
This will allow high-frequency traders to trade like in a CEX but keeping control of funds, and casual traders to exchange their favorite coins and tokens without the hassle of high fees via a Simple SWAP UI (SSUI) similar to the one that can be found on Uniswap and Pancakeswap.
The only network fees will be paid when first onboarding on L2 (and when eventually returning the assets to L1), but channels can be rented and using the SSUI everything will happen in the background without the need of advanced technical knowledge.
The Stakenet DEX will allow users to trade and to earn amazing yields for providing liquidity and/or securing the network hosting a Masternode.
Each user can provide liquidity of any asset and earn fees on each transaction while deciding the range and IL risks using a simple slider. Liquidity will be also enhanced using vortex, API and bots that can instantly arbitrage with centralized exchanges.
While in the Hydra stage masternode owners will receive a portion of all the trading fees generated by the DEX (no top of the block rewards) , helping to secure the network and to keep the DEX decentralized and censorship resistance.
Awaiting the launch of the dex $XSN can be bought on Bitfinex, Whitebit or Stakecube
For more info join the Stakenet's Discord
