Polarity Exchange Challenge

by | Feb 24, 2021 | Exchanges

The @Beachguy Polarity Challenge

Goal: To get us listed on Polarity!

https://polarity.exchange/

Cost Goal Reach –  $3200 is ALIAS/BTC

Exchange fee = $1400 (50% ALIAS/ 50% BTC)
Hosting Fee = $300/yr (year one is covered!)
Collateral Wallet for market-making = $1000 in ALIAS/BTC
Press Release/co-marketing efforts = $500 ALAIS/BTC

Major highlights of the Exchange

  • Decentralized
  • 2FA Blockchain Security Wallet & Crypto Exchange
  • Privacy Community
  • Market making support
  • Associations with BPSAA
  • Low fees

Bonus – @Beachguy is willing to match EVERY donation 1 to 1 for the Listing Fee! Until we reach our goal.

Donation Wallet Addresses and QR Codes 

LAToken Challenge Goal$6500$6500

MORE ABOUT POLARITY

Polarity Promotion

New users will get 5 free promotional tickets which they can use to play our lottery DApp or even use to activate a 2FA wallet so it costs nothing for people to try our platform!

What is Polarity

Polarity is a Stablecoin Exchange Platform. It leverages user familiarity by using USDT (Tether USD) as the exchanges’ base pair, not Bitcoin, making the experience closer to legacy finance.

It is running on a decentralized network for the vast security benefits it provides users and the company running Polarion exchange.

CEX vs DEX

Centralized exchanges are often criticized for their lack of security, given that over $4 billion worth of cryptocurrencies have been stolen from exchanges between 2011 and 2017, according to a Reuters estimate. In addition, the KYC process and local regulation on exchange impedes some users managing their assets conveniently. As such, more and more crypto pioneers are seeking solutions from Decentralized Exchange Technology.

The order-book itself is still managed centrally (On a service called a matcher) but the transfer of assets is completed on-chain and the rules of the exchange are built into the network regardless of the order-book (https://docs.wavesprotocol.org/en/blockchain/transaction-type/exchange-transaction).

What are the Fees Here?
CryptoBrokers has decided in using a public settlement layer, that we will cover all network fees using sponsorship, and limiting user fees to a fixed $0.01USD for all operations.
What technology is Polarity built on?
Polarity is built off the Waves.Exchange 1.0 code, which was adapted for the Turtle Network DEX and then made into Polarity.Exchange.
What network is it running on?
The network this exchange is running on top of is TurtleNetwork, which is a community oriented and operated settlement network layer with an exchange.
What are the listing requirements?
  • 5000 USD equivalent of the token for market depth collateral
  • Active community larger than 10,000 users
  • Open to promotional related arrangements
How do deposits and withdraws work?
Deposits and Withdrawals are handled autonomously by the Gateway Services Layer through which users can audit the reserves simply by viewing the blockchain.

What are gateways?

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 all the exchange currencies without having to wait for native chain block confirm times, unlike Atomic Swaps.

Blocktimes with us are nearly instant thanks to Bitcoin-NG scaling consensus.

Custodial vs. Non-Custodial?
When you Link an account in the signup process you may be wondering, does Polarity have access to your funds? The answer is no, the operating model we have chosen to utilize is DEX based and as such all user funds are “sole-managed”.

When you initiate a Polarity Service Account, you will notice you do not have the keys to this account, this is a “broker-managed” account type.

Custodial “broker-managed” funds can be withdrawn at any time, they are here however to provide access to other Polarity services.

What is the fuel of this network?
The underlying operational gas coin is the TurtleNetwork coin ($TN), it can be bought on the TurtleNetwork.