Polkadex Orderbook is Now Live On The Public Polkadex Testnet
Polkadex Orderbook is Now Available on the Public Open Beta
The time has come. The long-awaited Polkadex Orderbook is now live on the public Polkadex Testnet.
But that’s not all: This release also marks the beginning of the Polkadex Open Beta, the new public beta testing rewards program which replaces the prior private beta program.
What is Polkadex Orderbook?
Polkadex’s flagship, Polkadex Orderbook is a non-custodial, orderbook-based cryptocurrency exchange enabling high frequency trading of cross-chain assets. Polkadex Orderbook combines all the functionality and speed of centralized exchanges (CEXs) with the safety and transparency of trading on decentralized exchanges (DEXs). As a cutting-edge Layer 2 trusted execution environment (TEE) built on the Polkadex Network, Polkadex Orderbook will be a leap in the evolution of decentralized trading.
Why is this release important?
This is the first time the Orderbook’s TEE and the blockchain are connected to each other in one release. Bringing these two components together and putting them in the hands of future Polkadex users is an important milestone for Polkadex. In other words, this release is a culmination of all the work that has gone into Polkadex so far, from the ideation stages to the continuing bug fixes and improvements.
This release is also one of the first Polkadex releases to roll out directly to the public testnet and skip a private beta phase. The Orderbook Testnet release is kickstarting a new stage of Polkadex product testing: the Polkadex Open Beta.
Polkadex Open Beta
With the singular goal of making Polkadex products better by taking into account the widest possible range of community feedback, they are introducing the Polkadex Open Beta. This program will give the wider Polkadex community a chance to test Polkadex products and updates pre-launch, provide feedback, and earn rewards; all while helping the Polkadex team deliver better versions of the products originally envisioned.
Learn more about the Polkadex Open Beta and how you can start providing feedback and earning PDEX here.
Testing Polkadex Orderbook
In order to test Polkadex Orderbook, you will need test PDEX for network fees plus some test DOT and test ETH for trading as the trading pairs during the beta will be test PDEX/test DOT and test PDEX/test ETH. You can claim test tokens from the Test Token Faucet on the Token Manager beta interface. Once you have test tokens, you are ready to start testing the Orderbook!
Here’s a list of things to test for in this release:
- Creating a proxy (Orderbook) account using your main Polkadex account. You’ll need to click the ‘Sign up’ button on the Orderbook login page and follow the subsequent steps.
- Depositing tokens from your main account onto the proxy account of Orderbook. Essentially, this update allows you to deposit your balances onto your proxy account on the Orderbook TEE. You’ll have to find the wallet section and deposit your test PDEX, ETH, and DOT. This release currently only supports deposits from your blockchain account to the proxy account. Support for withdrawals will be added soon.
- Place limit orders and market for buy and sell trades.
- Check the graph’s real time updates.
- Check your order and trade history.
- Check recent trade events.
- Cancel orders.
Test and earn
As you test, make sure to take note if anything is not working properly, if there are areas the Polkadex devs can work on, or if you have any other suggestions. Be sure to log issues to GitHub while following the instructions in the Polkadex Open Beta guide to be eligible to earn PDEX rewards.
From Testnet to Mainnet
While the Orderbook Testnet release is a great achievement, it is merely an important step on the way to the mainnet release of Polkadex Orderbook and the overall fulfillment of the Polkadex vision. The goal of the Polkadex Open Beta stage is to bring products to full stability and, only once that is achieved, roll them out to the mainnet shortly thereafter. At the same time, the start of the Polkadex Open Beta program will also help create a culture in which community feedback is not only encouraged, but is an essential part of product development. To keep in mind, this is a work in progress and we will be adding more functionality and fine-tune elements of the product in the coming days.
About Polkadex
Polkadex a fully decentralized, peer-to-peer, orderbook-based cryptocurrency exchange for the DeFi ecosystem. Built on Substrate, and designed to become the ultimate trading engine for Web3. In order to do so, Polkadex is creating an easy-to-use platform that combines the benefits of centralized and decentralized exchanges.
