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BETA DEX release (2)

By April 13, 2023Beta, News

Hey Crankksters,

We would like to provide some additional information about Crankk’s private DEX.

Our DEX is a one-to-one exchange between KDA and CRKK, where you can create trade offers for a specific price and quantity of either KDA or CRKK. You can also specify the validity of your trade offer in minutes, hours or days.

Once you create a trade offer, it will be uploaded to the Kadena blockchain, and you should see it appear in “My Orders” after approximately two minutes.

Our background process runs every three minutes and takes matching trade offers to try to match them on the Kadena blockchain.

In the event of fully matched orders, each party will receive the full amount they wanted or even more if the matching order specifies a more favorable exchange rate.

If the trade offer is only partially matched, it may get fulfilled partially. The remaining amount will be tried to be matched again in the next cycle until there are any matches found.

Once the trade offer reaches its expiration, any remaining funds will be returned and the offer will be closed. When an offer gets fully fulfilled, it will also get closed.

The KDA/CRKK price for staking is calculated by taking all completed trades from our trade history and calculating a volumetric average, with larger trades being given more weight.

Please be aware that since we are just starting our private DEX, we expect to see some price volatility.

So get ready to put your KDA and CRKK tokens to work and join us for the exciting launch of our DEX on April 14th at 01:00 CET. It’s going to be an amazing ride and we can’t wait to see what the future holds for Crankk and the broader crypto community!