Update 07/11/2018: Though Radex is still live for historical purposes, the information below is outdated & much of it is no longer relevant. We have since released a new decentralized exchange Saturn Network with many upgrades like wallet to wallet trading in one transaction or token self-listing, this required a new smart contract & therefore we recommend you no longer use Radex and migrate over to the new exchange.
We were very proud and happy to announce the release of our Saturn Network whitepaper at the begining of March. It has been a long time coming and we would like to thank our supporters for waiting patiently. Our community really is at the heart of our vision for the future, so we would like to take a moment and thank you for your continued support. It definitely gives us fuel every day knowing that there is an interest in our project already and a true community forming that shares our goals.
Every day we are waking up with a smile thinking about how the Saturn Network will benefit the cryptocurrency world. And with every development, we tick off our roadmap, our smile just keeps on growing. We hope that once you learn more about our project, then you too will also be jumping up at the edge of your seat! Because at the end of the day, without you, our project is going nowhere. So today we wanted to provide you with a summary of our whitepaper & provide details about our pre-sale. To make sure every one is clear about our long term goals for the future.
But enough talk, what is this Saturn Protocol all about?
In simple terms, the Saturn Protocol will be a way to govern exchanges in a completely decentralized way. Every day we hear more horror stories from beginners having all their coins stolen by rogue exchanges. Even experienced professional traders run the risks of falling victim to a centralized exchange pulling tricks like frontrunning or wash trading. The Saturn protocol will remove all these problems and risks from the equation, leaving an equal and fair platform for traders to operate on.
Now we hear you thinking, what does this matter if no exchange adopts our protocol?
Let us present you with Radex, a fully decentralized zero fees exchange that currently allows you to trade Ethereum tokens. This is our proof of concept for our whole Saturn project. We are not just another cryptocurrency development team throwing around buzzwords and white smoke. As you can follow via our roadmap, we have a proven track record of bringing to life our statements.
Our whitepaper breaks down in detail how Radex is better than our competitors, such as 0x or EtherDelta who claim to be decentralized exchanges. To summarize the key benefits are:
- Operates completely on the Ethereum blockchain so Radex cannot have any downtime.
- Market makers are given a 0.1% rebate as a reward for providing liquidity.
- The Ethereum blockchain cannot be censored so you will always have access - what would you do if your local government blocked access to EtherDelta’s order book?
- The possibility of being completely anonymous - you don’t have to use our webpage because you can trade directly on the blockchain.
- Everyone is equal - the full order book and trade data are found on the blockchain, which everyone has access to at the same time.
- Will adopt the Saturn protocol immediately upon release.
- The front end will become open-source in the future to promote the growth of secure & safe decentralized exchanges.
This sounds amazing - but how can you trust Radex to continue to operate in this way?
Meet the Saturn DAO (Decentralized Autonomous Organization), which we see as a way to ensure developers or exchange owners do not possess too much power in their project. In the world of cryptocurrency where major changes happen every day with the advancement of technology, the best-decentralized exchanges are the ones that will be able to adapt. Yet when only a small group of people hold the power to make changes - how can we really call them adaptable or flexible?
Essentially, people who hold Saturn tokens will be able to vote in democratic fashion on changes to the Saturn protocol. This promotes an atmosphere where votes can be carried out to ensure the exchange remains competitive. In the example of Radex, this could mean voting on things such as:
- Change the default maker or taker fees that go to the DAO fund.
- List or remove a token that is being traded on the exchange.
Voters will also have the possibility to vote on things that affect the Saturn Network as a whole and not just simply a sole exchange, for example:
- Payout for bug bounties.
- Reward projects that promote the growth of our vision.
- Payout dividends to Saturn Token holders.
The DAO makes sure these changes are respected and carried out. And this is not a person who has to manually make changes, a DAO is a smart contract that holds power over the Saturn protocol. Meaning there is no way to avoid the outcome of the results, the voting is tamper proof as it takes place on the Ethereum blockchain, making any exchange running the Saturn protocol a place that really is run by the people.
There is also much more in the pipeline, all outlined in our roadmap, with the aims of making global adoption of the Saturn protocol very easy.
What the near Radex future looks like:
- Fully accessible from mobile.
- Radex Desktop App - to provide a more enhanced user experience.
- A Trade Explorer - an easy way to look at Radex’s order book.
- API Server - Radex could be listed on Coinmarketcap.
We continue to grow and we have more ideas coming:
- Active and regular content - such as more user guides and ICO analysis to continue the growth of our community.
- Reaching a wider audience with all levels of content shared via twitter and facebook.
- A forum tipping system - a way for the community to discuss good ideas and reward them.
- Trading bots - we see zero fee exchanges as a heaven for trading bots and we want to be able to help people set that up.
What about other blockchains?
When it comes to other blockchains, the smart contract technology that allows decentralized exchanges to operate safely and efficiently is very lacking. In the long term the Saturn Network is set to change this, in fact, our code has been developed to be compatible with any EVM blockchain.
That means we can easily be deployed to support coins such as:
- Ethereum Classic
And many others, for the full list, we encourage you to read through our white paper. Each blockchain would get its own SATURN tokens which would be used to govern its own DAO.
The best part?
Saturn ICO participants or SATURN token holders will be rewarded the new tokens via an airdrop formula. This means that if you choose to invest now, then you will also be investing in our project’s advancement into different blockchains for free as a reward.
This is to support our long-term goal of creating a world where cross-blockchain trading is a real possibility and remains decentralized. Though we have not dedicated ourselves to which method we would use to achieve this yet, as outlined in our white paper we see this happening in one of the two ways:
- 2 way pegs by using ETH as a sidechain for other blockchains.
- Direct atomic swaps between blockchains.
Is there a pre-sale prior to our ICO for early investment?
Yes! We do still have some limited slots available for people who truly believe in the Saturn project and want to become a strategic investor. These are being bought up quick though, so we suggest you get in touch with us quickly to discuss.
ICO price: 1ETH = 50,000 SATURN
We are offering you a bonus of up to 50% on buying SATURN tokens, ahead of our ICO date. In return, you agree to various lock-up periods.
For anyone interested, please get in touch with us via email at [email protected] or feel free to message us via telegram to discuss any interest. The full details of our ICO, which starts on May 1st, 2018, can be found in the white paper.
What can you do to support our project?
Really the best thing you can do for us at the moment is letting us know that you are here. We really love hearing about feedback for our Radex exchange via the forum. For example, one user let us know that the UI was confusing to understand what tokens were accepted. In under two days our development team released an enhanced market dashboard that let traders easily see what tokens are accepted.
Thanks for reading!