The Haven team is proud to announce a new listing on Polarity.Exchange! The XHV/USDT trading pair on will go live in January 2021.
*** Join an AMA with Polarity CEO, Tony Nguyen (Xucito) in the Haven Discord #General. Friday 18 December 1pm UTC ***
Polarity is a decentralised exchange that offers exceptional wallet security and low fees. Their services will add genuine value to Haven Protocol users, thus help us extend the ecosystem. User benefits will include:
- No KYC
- USDT base currency
- Fast exchanges
- Your keys, Your coins
- Very low fixed fees – $0.01 per trade!
- Hybrid on-chain/off-chain security design
- Low min and high max limits
- On-chain 2fa multi-sig
Your own keys
Polarity utilises a DEX operating model, so all user funds are “sole-managed”. The Polarity Service Account is based on a hybrid decentralized model enabling users to retain ownership of funds through their decentralized TurtleNetwork wallet but still allowing for features such as 2FA Confirmations.
Polarity is built on the TurtleNetwork Network which is a fork of Waves.The Polarity team was involved in porting TN Dex from Waves to TurtleNetwork as an open-source contribution and finally Polarity was founded with the aim of providing CEX level service without compromising on their core values of
User Empowerment, Transparency and Security.
Despite being a DEX, there are some similarities to a CEX. The order-book itself is managed centrally (On a service called a matcher). But the transfer of the assets is completed on-chain so exchange rules are built into the network, regardless of the order-book.
Deposits and Withdrawals are handled autonomously by the Gateway Services Layer through which users can audit the reserves simply by viewing the blockchain. The gateway service layer is fully API enabled and can be utilized by other services on the inter-joining networks.
Polarity gives users access to a Vault via an Identity server, which gives 4 layers of security.
- Client side end-to-end seed encryption and storage (using AES256) to enable accessibility to seeds
- A multi-factor authentication smart contract enabling users to enforce 2FA at network level for transaction confirmations
- Creating different types of wallets i.e. with trading disabled to support hot/cold fund management
- On-time-passcode support for Polarity Identity Access
Polarity uses various market-making mechanisms in addition to organic order book growth to keep markets liquid enabling entry/exit into the markets. By consolidating liquidity on USDT price asset-based pairs, liquidity is concentrated.
All assets you deposit by the gateway are automatically wrapped in a similar process to WBTC: https://decrypt.co/resources/what-is-wbtc-explained-bitcoin-ethereum-defi
This allows users to transact with XHV without waiting for native chain block )confirm times, unlike Atomic Swaps.