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MyTrade(MYT)[DEX]

2022-04-28

MyTrade is the first decentralized exchange based on the HPB mainnet developed by the HPB community team. At present, decentralized exchanges are divided into two types of decentralized exchanges based on order book and liquidity pool. It is currently deployed on the Polygon mainnet.

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Introducing MyTrade

MyTrade is built on the high-performance public chain HPB, which integrates the advantages of two trading mechanisms, Order book and Automated Market Maker (AMM), to ensure users' asset security, transaction liquidity and experience friendliness.

There are currently two types of DEXs in the market: order book and liquidity pool Dex. The MyTrade team takes the advantages of both and combines the advantages of the two trading mechanisms of order book and AMM (Automated Market Maker) to achieve high-performance matching in terms of liquidity. , which is simple and friendly in user experience. Similar to Uniswap, MyTrade is also driven by liquidity providers. Users only need to deposit the same amount of tokens and stablecoins (such as ETH, USDT) to obtain the ownership share of the MyTrade liquidity pool. The transaction fee for the user during the transaction will be returned to the liquidity pool provider. The order book meets the needs of ordinary users for price limit transactions, combining liquidity and order book functions in a perfect list.

Project Highlights

Solve the pain points of users

On the mainstream Dex, such as Uniswap, SuShiswap, many tokens have good liquidity, but currently do not have the function of limit order, which makes it impossible to meet the user's desire to achieve income demand by setting limit orders. And MyTrade solves this pain point very well.

The rapid translation of ETH ecology

Uniswap is the leader of DEX. After continuous iteration and verification on ETH, the security and functional experience are very high. After the analysis and comparison of multiple public chains, MyTrade found that HPB, as the leader of high-performance public chains, actually supports ETH virtual machines and smart contracts. It only needs to simply build the synchronization node of HPB, and make simple configuration modifications to the code, then migrate to the HPB main network and build a high-performance Dex. Compared with the congestion of ETH and the high gas cost, the author observed that many projects fell into the sand during the research and development stage, but the MyTrade team discovered the value of the HPB public chain and entered a fast lane of research and development. It is reported that less than 4 The HPB mainnet was officially launched within a month.

Platform contract passed Armors audit

It is understood that the underlying code of the liquidity pool of the MyTrade team uses the source code of UniSwap, which has high security. The order book is an original smart contract function. Both of them have undergone extensive testing and verification, as well as auditing, security, transaction speed, and transaction fees, all of which work very well on the HPB high-performance public chain.

Main Features of MyTrade

*Automatically complete limit trade matching

Traders can set buy and sell orders at the target price on MyTrade's liquidity and achieve automatic execution. For example, you can set ETH to sell when it exceeds $1,500, or buy when it is below $1,000.

*Liquidity pool funds

At present, users can earn fee income by providing liquidity on MyTrade, but it may also cause impermanent losses in the price of the liquidity pool and the price of tokens held in the wallet due to large price fluctuations. *Live Order Book Preview buy and sell orders for specific token pairs across all MyTrade platforms.

*One-click transfer function of Ethereum funds

HPB is a hardware-based high-performance public chain, and supports ETH's virtual machine and smart contracts. Therefore, MyTrade's current one-stage cross-chain solution is a one-click transfer function based on two-way real-time monitoring of contracts. Currently, ETH and UDST funds can be freely exchanged in and out of ETH and HPB mainnet.

*High-performance Dex, fast transaction speed, ultra-low gas fee

In addition to the high-performance innovation in decentralized trading, MyTrade is built on the high-performance public chain HPB, which has the characteristics of high transaction speed, low gas fee, and high safety factor. In the research and selection of MyTrade's public chain, the MyTrade team mentioned that although Ethereum is still the largest decentralized application ecosystem, due to the high transaction fees and network congestion problems of Ethereum, they hope to find solutions for users to come Talk about a high-performance public chain with lower transaction costs; in addition, because the algorithm of MyTrade's own system is more complex, if it is deployed on Ethereum, the user's usage cost will be higher. Based on these two considerations, as an innovative decentralized application project, MyTrade chose the hardware-accelerated high-performance public chain HPB core chain, which will greatly improve the team innovation cost and user experience.

MYT token distribution
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how to use

1) Open the Bitget Wallet (Previously Bitget Wallet (Previously BitKeep)) wallet and switch the network to Polygon;

2) Click [Browser], enter [MyTrade] in the search box, and click the search result;

3) Browse the Dapp information, click [Confirm] to enter the platform homepage; click [Polygon];

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4) On the trading page, you can search for the target trading currency. Here, take the MATIC/USDT trading pair as an example, click on the currency trading pair;

5) After entering the K-line page, click [Buy], fill in the buy quantity, and then confirm the transaction.

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6) Click [Liquidity] or [Mining] at the bottom to experience adding functions such as liquidity mining and pledge mining.

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