In the previous posts, we were explaining on how to implement limit orders on Uniswap V3.
Please check this link:
To find more on limit orders.
Based on the idea explained in the previous story, we are happy to announce KROMatika— next generation DEX Trading, powered by Uniswap and Chainlink.
HOW IT WORKS
KROMatika consists of:
Audited smart contracts for creating trades and processing them, all powered by Uniswap.
UI for interacting with KROMatika smart contracts .
Off-chain decentralized processing services, responsible for active processing of the trades, powered by Chainlink Keepers.
KROM token — utility ERC20 token used for paying the service fee. This fee is paid by the users and is used to cover the cost of the processing services (Chainlink Keepers).
Placing a DEX trade on Kromatika is pretty simple:
Go to app.kromatika.finance (make sure you select the Kovan Test Network from your metamask wallet, other networks to follow).
Select the token and the amount you want to sell (example 1 ETH)
Select the token you want to receive. (Example USDC)
Select the target price and place the trade. (Example target price: 1ETH = 5300 USDC).
As a result of placing the trade, you will receive a unique Non-Fungable Kromatika trade position token.
Congratulations. First step done. Now what is remaining is funding your account with KROM tokens and waiting for the trade(s) to be processed.
Go on https://app.kromatika.finance/
To list all your active trades
Check the minimum KROM token balance needed for processing the trades. If your current KROM balance is lower than the minimum KROM balance, you’ll need to fund your account with KROM tokens.
KROM token is a non-mintable ERC20 token, deployed on Ethereum, secured by OpenZepellin and audited by MythX, having a 100 millions of total supply EVER.
60 millions KROM tokens are already available for trading on Uniswap V3 MAINNET. Get your KROM tokens here.
Starting token price is: 1 KROM = 1 000 gwei = 0.000001 ETH.
For better security and prevention from rug pulls hacks, the proof of liquidity (position) has been burned. Check the burn transaction here.
The majority of the token is in the community hands forever.
20 millions KROM tokens will be available for trading on Layer2 Uniswap (Arbitrum and Optimism) in the first month of the launch.
The rest of the tokens: 20 millions KROM tokens will be held in a multisignature Gnosis Safe wallet and used solely for project funding.
Please refer to the previous post explaining how the trades are processed from technical perspective using Chainlink Keepers.
During the processing, the service fee is deducted from your KROM balance. The service fee is used to automatikally replenish the service ( Chainlink Keepers ), so that it can continue managing the trades.
After the trade has been processed, the user can collect the amount from it.
If the trade hasn’t been processed for a while, the user can cancel it.
This concludes the user interaction with the platform:
1. Placing Trade(s).
2. Funding your account with KROM tokens.
3. Claiming the amounts from your processed trades.
4. Cancelling non-processed trades.
When doing swaps on Uniswap V3, the user pays what is called a swap fee that is: 0.05%, 0.3% or 1%. When placing trades on KROMatika, the user does not pay swap fee, but pays service fee instead.
The swap fee depends on the amount being swapped, whereas the service fee is FIXED.
The actual service fee is paid in ETH, since this is the real cost of the processing services (gas fee), however the users always pay with KROM tokens.
KROM token allows for huge savings on the service fee, close to having a ZERO service fees.
Early KROM token holders would have HUGE savings on service fees, because they would be buying the token cheap and pay the service fee (which is fixed ETH) when its token price has increased.
Hidden gem: Within the DAPP, the user can choose a lower target gas price for the automatik processing of their trades, even further lowering the service fee, sacrificing some processing speed for lower service fees.
ZERO SERVICE FEE
KROMatika will be deployed on Layer2 (Arbitrum and Optimism) because of the lower gas cost.
The service fee on Layer 2 would be around 0.00002 ETH, expressed in KROM tokens. That’s 1 dollar cent for a service fee.
It could not get any cheaper. Well, it can…. go into earning instead of paying service fees…. and that’s to be discussed later on.
WANT TO CONTRIBUTE
Join Discord: https://discord.com/invite/Uv2Q2v26JG
Join Telegram: https://t.me/joinchat/09jBPxB1cl85OTBk
Join the contribution channel on Discord: https://discord.gg/AECpPPCWFQ
And contribute the development effort, marketing, support etc. Kromatika is a Community driven project and everyone is welcomed to contribute.
Buy KROM token on Uniswap V3 here.
Spread the word.
November 2021: KROM token launch live on Ethereum mainnet. Initial liquidity available for trading on Uniswap V3 MAINNET. We are here now.
November 2021: DAPP Beta launch on Kovan testnet and Layer 2 testnet. Smart contract audit.
December 2021: Trading the token on Layer2. Launching the DAPP live on Layer 2: Arbitrum ONE and Optimism.
Jan 2022: Launching the DAPP live on ETHereum mainnet.