Community Update #4
here is the fourth updates on the continued process.
We have hit an important milestone on production of the upgraded contract and migration process and reached a v1. We are now entering a phase of thorough testing and grinding. This v1 is also an important step because it enables us to get an official quotes from well established audit firm:
From theses quotes , it will be decided which firm will be chosen to audit the smart contract. This should be done early next week.
From that point, we expect the audit to be done within a week or so and then be ready to launch!
We are also working in parallel to create a new experience for our dex participants with the new migrated version. This new interface will still be at the hodldex.io url address.
As it was stated before, the experience is changed. The interaction with the HODLCommodity market is done on the simple dual basis of Buy & Sell action. Managing one’s account is done on the dual basis of deposit and withdraw and finally, orders can be canceled at any given time if they are not already executed.
The deposit experience is simple, it will deposit selected amount of ether from an address to the smart contract and assign it to an account linked to this address.
Withdraw will send the selected amount of ether to the account linked ethereum address.
The order are all managed within the smart contract, and resolved smartly depending on simple conditions that reflects the current process.
- If there are valid sell order available, process order until the buy order is filled
- if there is not enough sell order, buy the sell order and the rest from reserve
- If no sell order available , buy from reserve
- If reserve is empty, create a new buy order.
- If there are valid buy order available, process order until the sell order is filled
- if there is not enough buy order, resolve the buy order and create a sell order
- If no buy order available create a sell order
The user will be able to readily discover the state of its account in the smart contract on the landing page. The information available will be:
- User balance in Ether (in the smart contract)
- User balance in HODLC
- Price of Ether
- Price of HODLC
- User related orders(if any)
- A list of current sell/buy order in general
- Next sell order price
On the top page for reference :
- reserve balance
- market cap
- nb of trades
Events page will show a list of events reflecting the current state of the world from the smart contract perspective.
Buy & sell page will show a simple calculator with an action button to either buy or sell.
Look & Feel
A purist and simplistic approach has been chosen for the next HodlDex experience. There is the minimum amount of information and button in orders to make it a familiar and smooth process.
Screenshots with branding integrated should be made available around next monday.