Welcome to DeGate March 2023 Monthly Update!
DeGate allows you to Trade easy, Sleep easy. DeGate protocol is a secure, trustless, decentralized trading protocol built with Zero-Knowledge technology on Ethereum.
DeGate DEX enables spot market trading with limit orders on Ethereum mainnet, which together with ZK-Rollup and DeGate Efficient Gas Saving Technology allow efficient and cheap decentralized trading. The trading fees on DeGate DEX are very low, and there are no fees for traders-makers. DeGate provides spot market trading with limit orders while users are in self-custody of their funds.
DeGate, which is launching Mainnet Beta in May, pays special attention to the stability and security of the protocol. It is designed in a way that no malicious actor can do any evil, and users’ funds are safe at all times.
Tech Update
Last month, DeGate tech team made significant progress coming closer to the launch of DeGate Mainnet Beta. We are doing final testing and preparations and will be launching very soon. DeGate will enable spot trading on Ethereum mainnet, subject to a maximum deposit threshold during the Mainnet Beta period.
DeGate Mainnet Beta is dedicated to stress-testing the system and collecting feedback. DeGate protocol is trustless with no Admin Key, therefore once deployed- the code can not be changed. If there are no major errors, this will be the version of DeGate DEX protocol that will be launched as Mainnet.
Right now the focus is on the security of the protocol. DeGate has already completed an audit with Secbit, a leading auditor. The audit report can be accessed in DeGate docs Security &Audits section.
As security is the number one priority, DeGate is launching a Bug Bounty campaign. The campaign is being prepared and is ready to launch soon.
In the meantime, the tech team at DeGate has been working on the DeGate Zero-Knowledge Trusted Setup ceremony. The ceremony is a necessary action to launch a ZK-powered protocol. DeGate ZK Trusted Setup ceremony was announced at the time of Bitcoin block #779277, by applying a random beacon to the hash of this Bitcoin block. The first part of phase 2 has been completed from March 4–31st, 2023. We thank all the contributors who participated in the ceremony!
On April 3rd, DeGate announced moving to the next phase of ZK Trusted Setup ceremony- the final beacon contribution of phase 2. Based on the contribution of the first part, the final beacon contribution will be done and pk and vk will be generated. The hash of the Bitcoin block #783765 will be utilized. More information about DeGate ZK Trusted Setup ceremony can be found here: https://github.com/degatedev/trusted_setup/blob/master/Coordinator.md#execute-final-beacon-contribution
Product Update
DeGate made several significant achievements in improving DeGate DEX protocol, which results in a better user experience. One of the developments was the implementation of a quick deposit functionality that allows users to deposit assets more efficiently. In addition, the display rules of the asset list of deposit, withdrawal and transfer have been optimized, and the fee token is automatically selected before showing the balance.
Significant updates were made in the optimization of the rollup mechanism, to reduce unnecessary rollup transactions. Also, improvement was made in a signature message that is used to generate asset private key- it has been modified to a shorter version.
Minor changes to grid strategy calculations rules were made. The list pagination controller has been optimized in which the maximum page can be seen. Also, a dot can be entered to represent decimals without leading to zero in most number inputs.
On security, an important update has been made on the asset private key security mechanism. This ensures that the asset private key is cleared from the local browser after closing the tab.
DeGate now also supports fullscreen functionality on the iOS Safari browser.
Overall, this makes the trading experience on DeGate DEX more efficient and user-friendly. DeGate will continue to improve the protocol and looks forward to feedback about DeGate Mainnet Beta.
Community
DeGate aligns with the values of the Ethereum community and has been contributing to the Ethereum ecosystem. Most recently, DeGate participated in the KZG Ceremony to help scale Ethereum. With this ceremony, Proto-dank sharding #EIP4844 is implemented into Ethereum, which introduces ephemeral data storage. In short, because the data does not need to be stored by the network forever, it will be cheaper to use than on-chain storage. Rullups can use this storage to post transaction data or proofs back to Layer 1. Read more about it here: https://ceremony.ethereum.org/
Here’s the awesome NFT of participation. We were called upon, and to our Ethereum friends, we answered the call:
ETH Denver
DeGate evangelists were happy to attend ETH Denver, arguably the largest Web3 festival. This year, ETH Denver grew significantly, recording nearly 50,000 attendees and 168 Web 3 projects at sponsorship booths.
ETH Denver is very much a builders’ event. You could feel the ZK vibe everywhere- Zero Knowledge technology is the Meta of the season.
DeGate participated in Pick’em Poker+Golf event. It was fantastic to see DeFi users, industry people, VCs and projects networking at the table over a fun game of poker.
Doing our part for the community, DeGate also provided poker sets as gifts for the poker night organised by Orange DAO. This was a high-stakes poker game with a buy-in of 2 ETH. DeGate Ethereum poker cards and poker sets are a hit and DeGate will be continuing its Ethereum poker theme, stay tuned!
Because we love keeping fit, DeGate also organised a football tournament for all crypto frens in Denver, shout out to everyone who participated!
ETH Tokyo
Meet DeGate evangelists at ETH Tokyo, and participate in one of DeGate events! Ethereum Global continues to take Ethereum community around the world and DeGate is pleased to be in Tokyo.
At ETH Tokyo, DeGate is sponsoring zkGaming poker night, make sure you sign up if you are heading to Tokyo!
DeGate will be also hosting a Pickup Soccer @ ETH Tokyo tournament. Sign up here:
DeGate communities
DeGate DAO is grateful for DeGate evangelists and ambassadors around the World who are building DeGate communities.
We want to shout out to DeGate Latin American, Vietnamese and Ukrainian communities, thank you for supporting DeGate!
Follow DeGate communities on Twitter:
Zero-Knowledge knowledge
It is no secret that Zero-Knowledge (ZK) technology is set to scale Ethereum to levels that were not possible before.
DeGate is a decentralized trading protocol with ZK-Rollup on Ethereum. We invite you to learn more about DeGate ZK circuit in an analysis written by DeGate evangelist Zeng Huy:
Most recently, Vitalik Buterin wrote a piece about how will Ethereum’s multi-client philosophy interact with ZK-EVMs. Read this piece to understand the possible future for Ethereum and what is important now: https://vitalik.ca/general/2023/03/31/zkmulticlient.html
Finally, DeGate’s DG token is proud to be included in Coingecko’s Top Zero Knowledge coins by market cap category! Check out DeGate on Coingecko here:
DeGate is looking for Contributors
DeGate is looking for talented contributors.
Apply or refer fantastic candidates as contributors to our project!
We have launched 2 Bounty Programs to reward public referrals as well as Recruitment Agencies / Headhunters who can recommend suitable candidates to us. It’s simple, refer or introduce candidates to us, get paid up to USD10K!
For more info, visit:
We are looking for the following positions:
You can also regularly check out this link for the most updated list of available positions!
About DeGate
DeGate, which operates as a DAO, is an Order Book DEX with ZK-Rollup on Ethereum. DeGate provides a possibility to trade spot market with limit orders on a DEX, as well as grid trading function. DeGate is focused on being user-friendly and providing secure decentralized trading environment similar to that of centralized exchanges.
DeGate pays very strong attention to the security of the protocol and is built on the principle of trustlessness, or ‘Can’t do evil’, with no Admin Key. Users are trading with self-custody of their funds and are ensured that they can withdraw funds with DeGate Exodus Mode.
DeGate enables permissionless listing, meaning that any token can be listed in a permissionless manner through an open listing mechanism. Expect DeGate Mainnet on Ethereum later this year.
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