Announcement of Official Launch of NerveDEX

Dear NerveNetwork community,

We are delighted to announce that the NTC has finally completed development of NerveDEX. After multiple rounds of internal and public beta testing, NerveDEX is ready for official launch as scheduled!

As a complete Defi application ecosystem, the exchanging of assets is essential. Compared with a centralized exchange, a DEX is a fairer and more transparent solution. NerveDEX is built on the Nerve network, designed as an open exchange that anyone can participate in. NerveDEX works by utilizing matching on-chain. Consensus nodes participate in transaction matching to ensure the fairness of exchange.

Application Explanation

Account System : The account system of NerveDEX is compatible with the account system of the Nerve network. On NerveDEX, you can directly import your NerveNetwork private key or Keystore, without deposit and withdrawal operations.

The asset is always in its own account, and the pending order only performs the locking function, not the transferring of asset ownership. It is only after the transaction is completed that the transfer of assets is executed.

Asset Issuance : On NerveDEX, anyone can issue assets by spending a certain amount of NVT or through the POCM platform of NULS.

Trading Pair Creation: There is no need for NerveDEX’ permission for trading pair creation and review. Anyone can create a trading pair after spending a certain amount of NVT. If anyone wants a particular asset to be listed on NerveDEX, the project would need to be submitted for review. The new asset will be displayed on the NerveDEX page only after review.

Transaction Matching Logic : NerveDEX always maintains the current market position. When a new block is confirmed, it operates according to the order of transactions (pending orders/withdrawing orders) in the block.

Transaction Confirmation Time: The block confirmation time of NerveNetwork is 2 seconds. The confirmation time of NerveDEX is consistent with the bottom layer, thus ensuring the timeliness of matching transactions.

Transaction Service Fee : A service fee will be levied on NerveDEX transactions, which is divided between the bottom layer and the API.

All the transaction service fees at the bottom level (preliminarily set at 0.02% for both directions) will be collected into a public account, and the Nerve Foundation will regularly repurchase NVT with 50% of the assets in this public account for burning.

The fees from API (Ranging from 0–0.98%, and tentatively 0.06%) will be collected into the NerveDEX API operation team account and used for the basic income of the long-term operation of NerveDEX or the cloud trading platform built through the NerveDEX API.

Pending & Cancelling orders : NerveDEX’s pending and cancelling order operations must be initiated by the user. The transaction will only take effect after it is successfully packaged in the block, and subsequent matching or cancellation operations will be performed.

Assets are locked when pending. Untraded assets in pending orders can be unlocked by cancelling, thus restoring the status of the assets. Basic service fees are levied for pending and cancelling transactions.

Transaction Record: All operations through NerveDEX are on-chain operations. We have configured a dedicated block explorer for NerveDEX to query transaction information on NerveDEX.

Quick Start Guide

Currently NerveDEX has created 2 trading pairs, they are:

  • NVT/NULS
  • ENVT/NVT

Note

All transactions on NerveDEX requires fees in NVT. If there is no NVT in your account, please visit: https://wallet.nerve.network/convert where you can use NULS to quickly exchange for NVT as transaction service fees.

If you have further questions, please feel free to reach out! We welcome everyone to enter the Beta environment to experience NerveDEX for yourself: http://beta.nervedex.com

Once you are ready, you may proceed to NerveDEX for live transactions at https://nervedex.com

Feedback

Github issue area:https://github.com/NerveNetwork/nerve/issues

Community users may join the official Discord to ask questions and make suggestions. The technical community will try their best to answer as soon as possible. Because NerveNetwork is a global community with time differences across regions, we ask for your patience and understanding while we try to respond to every question in a timely manner.

Appendix

About NerveNetwork

Website:https://nerve.network

Document:http://docs.nerve.network

Github:https://github.com/NerveNetwork/nerve

Wallet: https://wallet.nerve.network

Explorer:https://scan.nerve.networ

Data service:https://public.nerve.network