Network asset conversions are currently suspended. All the details can be found here
We’re very pleased to announce that Polarity have launched a new trading pair on their exchange. XHV:xUSD is now live.
We requested an xUSD pair from Polarity, to provide an additional option for those looking to buy or sell xUSD, until conversions can be restored in the vault. Longer-term, this market will provide an important alternative to vault conversions. By allowing users to swap between xUSD and XHV outside the vault, the utility of xUSD will improve, as users have the option to opt-out of lock times.
Polarity is a decentralized exchange platform offering many benefits over traditional crypto exchanges including:
- No KYC
- Fast exchanges
- Non-Custodial: Your keys, Your coins
- Very low fixed fees – $0.01 per trade!
- Hybrid on-chain/off-chain security design
- Low min limits
- On-chain 2fa multi-sig
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
Unlike Atomic Swaps this allows users to transact without waiting for native chain confirmation times.
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.
Your keys: Your coins
Polarity utilizes 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 a 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
Once again many thanks to the team at Polarity for making this new pair available and we look forward to expanding the utility of xUSD over the coming months and years.