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ยท 3 min read
J.

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What's Been Doneโ€‹

AMM's Design Features Explainedโ€‹

Hi Chia holders! We at Hashgreen have some updates on the long awaited AMM! Over the past weeks, while we have implemented basic building blocks for the smart schemes, more importantly we are composing these blocks to ensure users have great experience trading and participating in our ecosystem.

  • A sustainable token and distribution scheme for the Hashgreen ecosystem:

    We want to bake our tokenomics directly into our AMM by highly incentivizing the first batch of supporters for their rapid adoption. On the other hand, we are considering allowing not only liquidity providers to earn (liquidity mining), but also protocol owners โ€” each and every one who owns the Hashgreen token โ€” to earn.

  • Fair pricing of token pairs:

    We all know there are huge Miner Extracted Values (MEVs) in the Ethereum ecosystem, and especially when it comes to trading, miners can easily manipulate the orders of contract interaction in their favor. Chia Blockchain does not have this problem, and we enforce a rule of single price per block to prevent market manipulation. Everyone who interacts with the AMM gets the same price and does not get front-run.

  • Name your slippage tolerance and commitment period:

    When you put orders in to buy from/sell to the AMM, on top of the assured fair prices, you can additionally specify a maximum slippage tolerance you are willing to accept, and until when the order is valid. These fully adjustable parameters will make interactions with AMM a very familiar experience compared to existing ones you have used before.

There are many more design features we are currently working out! If you have questions, feel free to shoot message at our Twitter or Discord!

What's Rollingโ€‹

  • Language switch option is about to be released again in the near future! As we would like to support as many languages as possible, we are looking for volunteer translators! If you are interested in providing help, please head to our Discord server and write a message in #translators or DM @HG | Daisy and @HG | James to let us know.

  • Lately we've noticed that there's some impersonation scams in Chia's community and people have been affected by it. Thanks to the community's effort and your report, we were able to identify it and withdrew it from circulation in our DEX. Please be extra careful when you make any transaction, and make sure you have a full understanding of the background of the tokens you're going to trade. The effort in identifying and terminating scams is also attributed to the token listing mechanism in our DEX, where the data is reviewed after being imported from TAIL database API. We are currently working on adding warning messages in the DEX to help you and please keep careful watch for potential scams whenever you trade.

ยท 5 min read
J.

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What's Been Doneโ€‹

Over the past week, we've had Goby successfully integrated into Hashgreen DEX and we've also shared an interesting discovery made possible via a tool we developed that analyzes and reifies blockchain activities on Chia. If you'd like to see more of the cool graph analysis, please visit our tweet here and join the discussion.

Transaction Fee and Chia's Coin Set Modelโ€‹

  • We received some feedback from you related to the mechanism of transaction fee and the coin set model that Chia uses. Chia released in Chia Blockchain 1.3.4 the function of allowing makers to create an offer with a fee in order to help get the transaction onto the blockchain. According to the release, now when you want to make an offer in Hashgreen DEX, you can always add a transaction fee via Chia wallet or Goby wallet to ensure the priority of your offer in the queue. (See Best Chia Projects Bootstrapped on Hashgreen DEX for more.)

  • Sometimes problems such as amount higher than spendable balance would occur when you try to make an offer. This is likely due to the characteristics of Chia's coin set model:

According to an article written by Bram Cohen, he explains in the second paragraph:

  • The only persistent data is the current set of unspent coins, which have sizes and rules about how they can be spent.
  • When a coin is spent it can make new coins using its value but the original coin is gone forever.
  • Take the following scenario as an example: You have 20 USDS in your wallet and you'd like to create an offer to buy 1 XCH for 10 USDS.

    • Due to Chia's coin set model, your 10 USDS may consist of different coins in one package. Possibilities of the actual allocation could be: (A) one coin sized 20 USDS, (B) two coins sized 18 USDS and 2 USDS, or (C) whichever amount of coins that sums up as 20 USDS, depending on how the original transaction looks like or how many coins that are originally in your wallet. As you make the transaction, it sends the entire amount (or the highest amount of coin that you have) to the blockchain, then the change will be sent back to you.

    • In such a case where you have one single coin sized 20 USDS, your coin will be sent to the blockchain, destroyed, and split into two coins of 10 USDS, one of which will be spent, while the other will be given back to you. Before the transaction is sent to the full nodes (mempool, actually) and waiting to be included in the blockchain, you may not be able to make another offer since technically you don't have any coins available to be spent in your wallet.

    • Therefore, whenever you try to create another offer, you won't be able to do so, and that alert message amount higher than spendable balance will show up to remind you.

User IDโ€‹

  • If you are transitioning from one device browser to another, you can use user ID to migrate your order and trade records. Previously on Weekly Update #6, we mentioned the function of user ID and how to use it. We would like to elaborate on this function, explaining more about the use and things for you to notice.

  • Users can import trade records from one device or browser to another. Please note that user ID is bound to the browser you're using. In other words, it will vary depending on the browser or device that you use. When the data migration is done, the original user ID will become invalid, which means you can no longer see the trade records in the original one.

  • Data migration will not be affected by the status of your wallet connection.

What's Rollingโ€‹

Two weeks ago we had a Twitter poll asking for your feedback about the integration of Goby wallet, and we received a handful of your feedback for the update. We would like to invite you to tell us about your thought of using Hashgreen DEX.

Feedback wantedโ€‹

  • Now we are looking for users to share with us your feedback. If you're interested in helping us improving our product, drop a message in our Discord channel #ideas-and-feedback or tag @HG | Daisy and @HG | James in #general to let us know! Or you can just tell us about your feeling of using Hashgreen DEX and what can we improve directly at #ideas-and-feedback. Feedback is always wanted and appreciated!

  • Example feedback questions:

    • Your experience using our DEX
    • Opinions of the functions or design we've had
    • Any idea of tools or functions that can be integrated into our product