Introducing the new pDEX (pDEX v3)

All of this update looks really great!

I have 2 questions I was curious about.

  1. What will happen to the coins I currently have locked in provide? Will they be kicked back to the assets area of the DEX and I will have to re-add them in the 2 sided liquidity provision, or will they get paired up with the new provide?

  2. I recall reading a post on the forum from someone that privacy v2 was a prerequisite to adding ledger support, is this a planned part of v3 or is it something that is going to happen in a future update?

Great work guys!

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Hello @vtallen,

Let me answers your questions as below:

  1. When we launch pDEX v3, we will have to create new pools accordingly to the new protocol so liquidity in the current pDEX has to be removed and re-added to those new pools. This is the responsibility of the core team and Provide users won’t need to do anything. A detail of those pools’ information along with the liquidity of each will be published on the forum prior to the launch.

  2. We’re defining a development roadmap for the next quarter, one of the most desired initiatives is a web-based DEX + wallet web extension. It seems that ledger support is needed to securely interact with the wallet extension, this is worth being considered but we have not finalized yet, some interesting things else are also thoroughly explored. We will publish a roadmap for Q4 by the end of the month and hopefully, ledger support can be on the list, we’re not sure since this depends on our resources and priority.

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When we say “ledger support”… Does that refer to hardware wallets produced by the company Ledger? Or is that something else?

If the former, is there any reason focus would be on products from that specific company, or is that just being used as a proxy term for “hardware wallets” in general?

Ledger support couldn’t come soon enough :slight_smile:

I still believe if there’s any way to only have one token all the better.

Orion protocol has their version of “provide prv” as governace merged with liquidity staking. So long as you have prv in provide you are afforded votes of that many in each issue that arises. And you can distribute your votes among multiple choices for weighting. If you unstake your prv, all votes are repealed.

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1 token prv keeps it simple. Ledger will be amazing. The team are awesome always super fast on support and exciting updates to come. Thanks crew :+1:t4:

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NFT :eyes:

Hello @daniel will the launch of pDex v3 have any impact on the RPC calls?
Rpcs like authorizedsubmitkey, getbalancebyprivatekey to be specific? @sid

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Sorry I missed your question. I’ve replied in another post: Will the launch of pDEX v3 have any Impact on Existing RPC Calls?

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Progress update:

Firstly, I apologize for not meeting the original release date as promised (aka the last week of Oct), the current status is:

  • pDEX on-chain protocol was deployed on testnet already.
  • Incognito app for pDEX was being pointed to testnet and tested by QC team. The testing (and bug fix) is expected to be done early next week and the new pDEX is ready to roll out then.

Secondly, besides these main things above, we’re working on some other side things that may help the release be better and smoother:

  • A new landing page with a comprehensive explanation for what the project focuses on.
  • A centralized documentation that allows new users to onboard easier.
  • A dashboard for basic pDEX’s metrics.
  • A series of topics for new pool (and its liquidity) structure, PDEX tokenomics, and app tutorial.

All four things above will be done this week.

Finally, I’m really excited about the launch and personally believe once we have the new pDEX, PRV will have one more utility (for paying trading fees) so people will have one more reason to buy and hold PRV. Apparently, you can challenge us by a question of why people want to trade on pDEX so need PRV for trading fees? Hopefully, the new landing page and topics above can help answer this by defining concrete benefit of every single entity (liquidity providers, limit order placers, and arbitrageurs) involving the pDEX.

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An idea for pDEX v3.5 :slight_smile: I’ve seen this in another DEX. LP fees are not just distributed to LPs by their liquidities but also by the age of their liquidities. So the early liquidity providers do not withdraw their liquidities in a hurry to avoid impermanent loss after they earn better rewards at initial high APRs.

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I would love for this to get grandfathered in as I’ve been providing liquidity for a while

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Any update on pdexv3 release?

We r well in to November now…

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I would love for this to get grandfathered in as I’ve been providing liquidity for a while

Hello folks,

This is another update for pDEX v3 progress, the testing for the new protocol and its integration with backend services and the app was complete. It’s ready to go and we had also a few beta users to give the new app a try and get us feedback. Some of them are:

  • The load time to enter the app is much faster (reduced ~50% load time compared to the production version). This is a privacy app that needs cryptographic computation right on the app to preserve private information so the stronger chip, the better experience, but the new app version will improve significantly experience for even weak devices.

  • The new UI is quite complex and changed significantly from the current version that will need user re-education effort. That is a thing we should avoid and the UI/UX should align with our userbase (who are mostly in US and Europe). I personally think this feedback does make sense and we were working on fixing it, this is the main reason for the delay since this is a big launch, we wanted users to have a good experience as possible.

Besides, the team was aggressively working on:

  • A new explorer that will temporarily replace incscan.io until the new owner’s team gets a full transfer from the old maintainer. (ETA: early next week)

  • A new landing page that will help explain more clearly Incognito’s positioning as well as what benefits of the new protocol. (ETA: early next week)

  • An airdrop service that will send a small PRV amount to users who shield coins to Incognito for the first time. This will help reduce friction for new user onboarding, thanks @adrian for the suggestion. (ETA: early next week)

  • A series of 4 topics: explanation of how entities benefit from the new protocol, new PDEX tokenomics (and how PRV’s holders benefit from the new PDEX token), the new app tutorial, and a longer-term plan for pDEX in detail. (ETA: throughout next week)

So the expected release date of pDEX v3 is Nov 18, 2021. Delay is not good but I hope it’s worth postponing a bit to have a better product and experience. Thanks for your understanding!

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I personally realize your suggestion is usually valid, you will soon see that your old suggestion would be implemented (a.k.a PDEX token’s bridge and farming) and rolled out in a couple weeks. Thank you!

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Thanks for the update. It’s a big development and a lot of work has gone into it. Looking forward to it.

Are we there yet? Are we there yet?

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Hahahahaha I’m in the same boat.

Waiting to the pop the champagne. I sense a 5 day delay :slight_smile: