rDEX V1 Overview
rDEX will support the following trading pairs on StaFi chain:
Among the above 7 rTokens, only rETH is issued on Ethereum chain directly, and the other 6 rTokens are issued on StaFi chain. Because the rDEX is deployed on StaFi chain, rETH token needs to be swapped from Ethereum chain to StaFi chain, which could be done through rBridge, before being traded on rDEX. Please check the rBridge Guide.
rDEX is an automated market maker DEX to provide continuous liquidity for rTokens by utilizing the Thorchain’s CLP market maker model.
rDEX ensures low slippage for small and medium-sized transactions by using the fee model based on slippage.
Unlike the majority of cryptocurrency liquidity pools, rDEX users can provide liquidity by depositing one token or two tokens asymmetrically.
rDEX testnet has been tested in three different ways in the past 6 weeks to make sure it is extremely safe before its release on the mainnet: rDEX testnet has been audited by PeckShield. Check the audit report.
At StaFi, we always say that the ‘safety of funds of our usersis our first priority’. Therefore, StaFi wants to initiate an Insurance Fund for rDEX which will act as an effective safeguard as well as provide additional protection for rDEX users against any potential and unforeseen hacks which were not found or avoided in the security audit endeavors listed above.
StaFi Core wants to propose that StaFi Foundation should allocate 5 million FIS into the Insurance Fund for rDEX users amid a barrage of hacks on rDEX contracts. And this proposal will be announced with details for the community in the following weeks.
In order to incentivize the adoption of rDEX, StaFi Core has proposed a grand liquidity mining program for its users. If you are interested in this program, we welcome you to read the rDEX Liquidity Mining Program Proposal to get yourself prepared.