OKChain Monthly Report — July 2020
Saturn Joins OKChain Ecosystem
As we move the OKChain TestNet 0.10 forward, OKEx is proud to welcome Saturn to the OKChain ecosystem!
Saturn Network is building an open-source infrastructure that makes working with cryptocurrencies easy by breaking down barriers for start-up blockchain businesses and enabling everyone to access to the financial freedom that decentralization has championed.
In 2018, Team Saturn released Saturn Wallet, the first crypto wallet with native multichain support for accessing decentralized applications, commonly called DApps, on Ethereum and Ethereum Classic. The release was followed up by its flagship product, Saturn Protocol v1, a decentralized exchange protocol for securely trading ETH, ETC, as well as ERC-20 and ERC-223 tokens.
There are now over 870 tokens listed on the platform — with over 8,800 users choosing Saturn Network to securely trade their assets while enjoying one transaction wallet-to-wallet trades.
Saturn protocol overview
Currently, the team is working on Saturn Protocol v2, a major infrastructure upgrade that will introduce several new features to improve the protocol across the board for all its investors, users and stakeholders. Key new features include:
- Automatic market making: By moving toward an AMM model via the addition of liquidity pools and staking, the creation of an OKB liquidity pool is enabled.
- Token-to-token trading pairs: With liquidity problems solved, Saturn Network will also be able to support token-to-token pairs.
- DAO Governance: Saturn Protocol is community-owned with governance tokens. Saturn DAO will also enable regular profit payouts to token-holders in the form of dividends.
- Cross-Chain Atomic Swaps: Improved interoperability between different blockchain ecosystems in the form of Atomic Swaps enables, for example, decentralized trading between OKT and ETH.
- Saturn Rings: Saturn Protocol powers incentivizes an affiliate model for launching your own exchange.
Saturn Network and OKChain cooperation
Saturn Network and OKChain are excited to share several design concepts and development plans that could open up future cross-chain synergies between Saturn Protocol and OKChain/OpenDEX.
Saturn Network listing OKB
OKB is the global utility token for the OKEx cryptocurrency exchange. With OKChain being part of the OKEx ecosystem, a great way to promote further adoption is by listing the OKB token on Saturn Network.
Team Saturn will assist OKChain in setting up an OKB liquidity pool on Saturn Protocol v2 — enabling further integration with the growing DeFi ecosystem on Ethereum.
OKChain validator node
Saturn Network has joined the OKChain testnet by operating a validator node. Once OKChain moves to its mainnet, further synergies could be created — such as Saturn Network becoming an OKChain/OpenDEX operator.
Deploying an OKDex dedicated to the OKChain/Saturn Network partnership will serve as a liquidity bridge between the two ecosystems by enabling SATURN/OKT and STRN/OKT trading pairs.
Interoperability with Ethereum Classic
Both teams share a joint interest in providing further interoperability with Ethereum Classic (ETC) and OKChain. As part of the OKEx ecosystem, OKChain is home to the biggest ETC markets by trading volume. Saturn Network is currently the most used DApp on Ethereum Classic.
Team Saturn recommends OKChain deploy an asset bridge between it and Ethereum Classic-based digital assets to support trading and market-making for ETC and ETC tokens on OpenDEX. To ease the adoption, Team Saturn will run an OpenDEX mirror and the front-end for the asset bridge.
Promote OKB in DeFi on multiple chains
Saturn Network, as a leader in DeFi technology, will integrate OKB and/or OKB synthetic digital assets into its decentralized finance protocols. This will promote OKB in the DeFi user ecosystem on Ethereum, Ethereum Classic and other supported Ethereum Virtual Machine chains. It will also promote DeFi among OKChain and OKCoin users.
Team Saturn recommends that OKChain run a lightweight Saturn full node with its custom Saturn Ring, arbitrage bots, atomic swaps for cross-chain value transfer bots, as well as maintains decentralized OKB price oracles alongside Team Saturn and other members of the DeFi community.
OKChain Technical Community: https://t.me/okchaintech
OKChain Official Web: https://okex.me/okchain
OKEx DEX: https://okex.me/dex-test
Claiming TOKT: https://okex.me/drawdex
OKChain Doc: https://okchain-docs.readthedocs.io/en/latest/