Stakenet, an ecosystem combining the Lightning Network and Masternodes into a blockchain for decentralized applications, has announced Ethereum (ETH) integration in its latest update, among other notable improvements.
The Stakenet team now has Ethereum and ERC-20 (USDT) deployed to its community closed beta and is presently in testing. This integration is in preparation for upcoming trading pairs BTC/USDT and BTC/ETH being added to the Stakenet DEX.
ERC-20 & USDT Support
High gas fees and traffic on the Ethereum chain have caused strong demand for near term scaling solutions. The Stakenet DEX will assist in providing users with low cost, instant trading on ETH /ERC-20 to BTC via Connext and Lightning Network.
Key developments added to the latest build:
- Transaction signing & UI for sending/receiving ETH and USDT.
- Transaction fee calculations.
- Fixes and deployments for Win and OSX to testing groups.
In addition, lssd now supports Connext and is on the XSN DEX mainnet hub where the Stakenet team is setting up automated trading environments for the newly added ETH and ERC-20 pairs.
UX Redesign
Additionally, Stakenet has deployed a redesign concept for the Stakenet multi-currency Light Wallet and DEX — including the Simple Swap User Interface (SSUI). The SSUI has been designed and built to ensure that it is user friendly and enables users to trade with a single click on Layer 2. On Layer 2, users can enjoy the benefits of instant trades with virtually 0 fees and increased privacy.
Other Updates
- XSN, the native Stakenet asset is now live with an XSN/USDT trading pair on WhiteBit Exchange.
- Partnership with DuckDAO – the DuckDAO digital asset incubator provides hand-selected crypto projects with expertise, financial resources, and marketing power needed to fast track their progress on the path to success. Stakenet plans to work with DuckDAO as a Liquidity Provider for the DEX as well as marketing and community support.
“Over the next month, we will have a main focus on running stress tests of our newly integrated Connext client with cross-chain BTC LN to ETH, USDT trading pairs. Also, there will be a rollout of our new UI and news on official public launch dates set for the Stakenet wallet.”
– The Stakenet Team