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Saturn Joins OKExChain Ecosystem

2020.07.22 OKEx

As we move the OKExChain TestNet 0.10 forward, OKEx is proud to welcome Saturn to the OKExChain 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 Protocol v2 with OKB Liquidity Pool

Saturn Network and OKExChain cooperation

Saturn Network and OKExChain are excited to share several design concepts and development plans that could open up future cross-chain synergies between Saturn Protocol and OKExChain/OpenDEX.

Saturn Network listing OKB

OKB is the global utility token for the OKEx cryptocurrency exchange. With OKExChain 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 OKExChain in setting up an OKB liquidity pool on Saturn Protocol v2 — enabling further integration with the growing DeFi ecosystem on Ethereum.

OKExChain validator node

Saturn Network has joined the OKExChain testnet by operating a validator node. Once OKExChain moves to its mainnet, further synergies could be created — such as Saturn Network becoming an OKExChain/OpenDEX operator. 

Deploying an OKDex dedicated to the OKExChain/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 OKExChain. As part of the OKEx ecosystem, OKExChain is home to the biggest ETC markets by trading volume. Saturn Network is currently the most used DApp on Ethereum Classic. 

Team Saturn recommends OKExChain 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 OKExChain and OKCoin users. 

Team Saturn recommends that OKExChain 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.

About OKExChain

OKExChain Technical Community: https://t.me/okexchaintech
OKExChain Official Web: https://okex.me/okexchain
OKEx DEX: https://okex.me/dex-test
Claiming TOKT: https://okex.me/drawdex
OKExChain Doc: https://okexchain-docs.readthedocs.io/en/latest/
OIP: https://oips.readthedocs.io/en/latest/

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Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involve significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.

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