Newdex, BSC, ETH L2: an horizontal take off to the moon!
Newdex enabling the next generation of decentralized finance with multichain BSC ETH EOS.
You can’t skyrocket if you have a roof above you.
Developing a dapp is not a simple thing, you have to be prepared for unpredictable external factors like market fluctuations, changes in popularity, hacks and more. In order to stay afloat it is necessary to know how to innovate. Two main types of development can guarantee some results: vertical and horizontal.
Vertical development
Imagine a decentralized exchange who updates its product constantly, partners with other projects on the net to propose new features, and makes improvements in an incremental way designed to engage users through a better product experience. This is a clear example of vertical development where features are added one on top of another reaching higher and higher levels of complexity to satisfy the final users.
“…vertical development where features are added one on top of another…”
That’s good but what happens if the structural limits of the network become a burden for development? On some networks, fees are so high that sometimes contracts have to become increasingly more complex to offer to their users as many on-app features as possible since every interaction with other dapps will cost them unsustainable fees.
High fees have always been an issue, especially on Ethereum. There’s a limited amount of transactions that can be added into a block because of fixed block sizes. When the network is ‘congested’ it means the pool of pending transactions is quite large and so users are outbidding themselves in terms of gas fees to be included in blocks faster, and other transactions stay in the pool longer. This severely limits the freedom of developers to propose innovative apps.
Perhaps if a dapp struggles to grow on a network devs should think about leaving it or at least expand into another one…
Horizontal development
It’s difficult to identify a network on which to start developing and already know what it will be like after a few years. No network is perfect, Bitcoin is a staple but after years still doesn’t have smart contracts, ETH is popular but slow and very expensive, EOS is fast and free but is less and less popular year after year. The only option for developers is to start on the net that looks best in that moment and be prepared to explore others after some time. What is not found here can be found there and so on. The exploration of different chains is horizontal development. Only a multi-network approach can mediate the cost-benefit tradeoff of developing in uncharted territories.
“…the exploration of different chains is horizontal development.”
Main reason to embrace horizontal development right now is to offer to users alternatives to excessive fees that are killing some networks. Indeed many projects already experienced immense vertical growth and then hit the roof with no more space to climb, take for example the very successful 1inch, a DeFi/DEX aggregator which developed on Ethereum since 2018, created new features, partnered to create stablecoin and became one of the most recognisable dapp in the world. They grew like a rocket but soon they hit the limitations of ETHEREUM and had to jump on other networks, expanding to Polygon and BSC which had a better user experience. This teaches us that rockets are good for astronauts but a horizontal take-off is more comfortable for mass adoption.
The Newdex way
To overcome all the aforementioned issues Newdex, as the historical first DEX on EOS launched in august 2018, has always adopted an approach open to both vertical as well as horizontal development. Newdex has reached cooperation with more than 20 wallets, developed on chain matching and settlement algorithms, and made many other features that stacked vertically over time. However from its start Newdex has explored the integration of several EOSIO side chains and even TRON, demonstrating an early horizontal spirit of adaptation to the tumultuous crypto environment.
After collaborating on same-chain to aggregate its tradings with Defibox, in 2021 Newdex decided to make another horizontal jump, starting to develop on BSC.
“Rockets are good for astronauts but horizontal take-off is more comfortable for mass adoption. ”
Smooth journey to the moon!
Through a journey of continuous horizontal and vertical development Newdex plans to add features, explore new networks, and add users to its already vast vision of the crypto world.
In 2021 Q3 Newdex will publish its new products, for now we can take a look to the tokenomic
Without leaving EOS, Newdex wil join several other nets, launching on ETH (including Layer 2), BSC, HECO and other chains to give full play to the composability of DeFi, aggregate multiple Swap depths, and integrate features such as order book, K-line, price market, token information, etc. Newdex will aggregate decentralized exchanges including Uniswap, SushiSwap, PancakeSwap, 0X, Kyber Network, Balancer, Curve, Bancor, MDEX, etc. with abundant tokens and best depth.
LINK:
Knowledge Base:
Social:
Feel free to share with anyone who wants to learn more about Newdex.io
Cheers :)
By TeamRekt
