Newdex Whitepaper V2.0

Multi-chain DEX trading entry

一、Project Introduction

Newdex was launched on the EOS on August 8, 2018. It is the leading order-book decentralized Exchange for on-chain matching and settlement in the entire net. Newdex has reached cooperation with more than 20 digital coin wallets (TokenPocket, imToken, Bitpie etc.) to perfectly present the decentralized transaction experience “matching via smart contract and receiving assets while transaction completed”. On January 19, 2021, Newdex has completed the new upgrade, from an order-book decentralized Exchange to an aggregate decentralized Exchange, and has successfully aggregated the depth of Newdex's limit orders and the depth of liquidity pools of the major Swaps on the EOS (Defibox, Defis Network, etc.), allowing EOS users to obtain the best depth and best price trading experience, which has become the first trading entry in the EOS ecosystem.

Newdex is committed to taking advantage of the composability of DeFi to aggregate the depth of DEX in multiple chains, develop the aggregated DEX with "best depth, best price and best experience", provide users with good decentralized trading experience, and become multi-chain DEX trading entry.

二、Development Plan

In addition to further improving the aggregate DEX on the EOS, Newdex will develop the multiple chain from Q2 in 2021. Newdex will launch ETH (including Layer 2), BSC, HECO and other chains to give full play to the composability of DEFI, aggregate multiple Swap depths, and integrate features such as order book, K-line, price market, token information, etc. We will launch an aggregate decentralized Exchange with "best depth, best price and best experience", becoming the multi-chain DEX trading entry. In order to achieve the above goals, Newdex has formulated the following development plan:

1. Aggregate the depth of decentralized Exchange in multiple chains

 Newdex plans to aggregate the depth of multi-chain decentralized Exchanges. The aggregated chains include ETH (including Layer 2), BSC, HECO, etc., and the aggregated decentralized Exchanges include Uniswap, SushiSwap, PancakeSwap, 0X, Kyber Network, Balancer, Curve, Bancor, MDEX, etc. Newdex will become the aggregate decentralized Exchange with abundant tokens and best depth, and become the multi-chain DEX trading entry.

2. Aggregate token information to improve decision-making efficiency

 Swap-type decentralized Exchanges are open for listing. Uniswap supports the free trading of thousands of tokens, which makes it extremely difficult to screen high-quality projects. Newdex plans to establish the most comprehensive token information database and aggregate token information in the entire net to improve decision-making efficiency and reduce decision-making costs for investors. Newdex will also support token search. Users can find interested tokens based on token symbol, project name, contract address and affiliated sector.

3. The first virtual order-book feature to improve trading experience

 Newdex plans to develop "virtual order book" feature on the ETH, which will be displayed in the form of the virtual order book based on aggregating swap depth to achieve the visualization of trading depth and close to the user's trading habits. Due to the high GAS cost of Ethereum, under the premise of ensuring the decentralization, the real order book cannot be supported on the ETH for the time being, but there is hope to realize the "real order book" feature on ETH Layer2, BSC and HECO.

4.The advanced K-line is comparable to centralized Exchanges

K-line has become an indispensable feature for trading. Decentralized Exchanges without K-line are not perfect. Newdex has perfectly supported K-line since the launch of decentralized Exchanges on EOS. The multi-chain version being developed by Newdex will provide the advanced K-line, bringing users the experience comparable to centralized Exchange.

5. Launch market list to search high-quality tokens

 Through multi-chain aggregation, Newdex will become the decentralized Exchange with abundant tokens and best depth in the entire net, and the tradable tokens will be dozens of times that of centralized Exchanges. You can find popular tokens based on indicators such as "24-hour transaction volume", "24-hour changes" and "24-hour search volume". You can also select the tokens you want based on tags. For example, you can select by tags: DEFI, distributed storage, concept tokens such as Polkadot, Layer2 and NFT. You can add them to “Favorites” after discovering high-quality tokens.

6. Provide aggregate trading with low fees

In the initial launch stage of Newdex multi-chain version, in order to attract users to experience the best decentralized aggregate trading with the best depth, the fee-free activity for aggregate trading will be launched, and users only need to pay the GAS fee. In the stage of benign operation, Newdex will charge 0.06% of transaction amount each order as aggregate transaction fees. In addition, Newdex will no longer charge any fees, and 25% of the aggregate transaction fees charged by Newdex will be used for buy-back and burning of Newdex platform token.

7. Deepen multi-chain POS mining pool services

 Since the launch of Newdex's POS mining pool, Newpool has adhered to the concept of “no coin transfer and safety first” and has become the world's leading staking mining pool. TVL has exceeded USD 200 million, and Newpool has earned more than USD 10 million for users. Newpool currently supports EOS, TRON, IOST and other chains. In the future, Newpool will deepen multi-chain POS services and support more Staking mining of POS chain. 25% of POS mining pool service fees charged by Newpool will be used to buy back and burn Newdex token.

8. Launch DAO governance to enhance the economic value of token

 Newdex will launch DAO governance. The governance range of Newdex DAO includes token aggregation rules, VIP airdrop rules, transaction fees adjustments, etc., allowing token holders to participate in project development, catching the token value through governance, and uniting community to jointly promote Newdex development.

9. Launch IDO feature

Newdex will summarize the advantages and disadvantages of various IDO (Initial DEX Offering) rules on the market, innovate it on this basis, provide users with innovative and fair IDO features, and solve the current pain points of IDO.

10. Rename token, reduce total supply, and issue on multiple chains

NDX is the Newdex token. In addition to representing the platform token, NDX failed to express Newdex's determination "carry out the decentralization to the end" and the concept "born for decentralized trading", nor did it express Newdex's positioning of decentralized trading entry, Newdex decided to rename the platform token "NDX" to "DEX". At the same time, with the total supply of 10 billion, the NDX price is low, which is not conducive to the pricing and circulation. Therefore, the total supply will be reduced to 100 million, and NDX will be swapped into DEX at a ratio of 100:1. After the completion of the token rename and reduction, DEX will be issued on multiple chains with total supply of 100 million. The original token reduction rules remain unchanged. Newdex will reduce token total supply and increase the token value.

11. The long-term goal of trading everything on the chain

Newdex takes "Exchange Everything on Chain" as a long-term goal. On- chain derivatives trading is an important scenario for decentralized finance. It is expected that the future trading scale will be much larger than the spot market. After completing the goal of multi-chain DEX trading entry, Newdex will develop on-chain derivatives trading business. In the future, Newdex plans to launch synthetic asset trading, leveraged trading, Futures, option dealing and other businesses.

三、Token Is Listed on Centralized Exchange

Centralized Exchange has the advantages of low use barriers, so they still have a wide range of user groups. In order to increase the DEX trading depth and allow more investors to know and buy DEX, Newdex will actively promote the plan of DEX to be listed on centralized Exchange. Newdex's goal is to list DEX on the top centralized Exchanges in 2021.

四、Development Roadmap

 The following is Newdex's 2021 development roadmap: