Good Morning Friends,
In short, we have had a productive week, ironing out bugs, streamlining the UI and working with Tweag to make sure we get everything sorted as soon as possible.
We will also have a brief look at the crypto market in general as things have been a little…well…brutal. Hopefully, we can help calm any nerves you may have.
General Crypto News
Suffice to say, the last couple of weeks have been very “red” in the crypto market. This has been driven mainly by the US economy’s inflation and the Dollar’s strength (DXY).
The bearish nature of the crypto market was also supercharged by the de-pegging of the Terra UST stable coin and the complete collapse of Terra Luna.
Our thoughts are with anyone who lost money. It’s horrible to see.
However, if we are looking for a silver lining (there is ALWAYS a silver lining), in bearish times, only the projects with the most robust foundations survive. Cardano is one of them.
True innovation happens when all the weak projects get filtered out. The entire Cardano ecosystem is innovating and CardaxDEX is no different.
With that in mind, let’s see what we’ve been up to.
White Paper v2.0
Before we start, don’t forget to have a look at our latest white paper. In it, we give a much more in-depth (than the v1 white paper) look at Streaming Merge and our v1 DEX offer.
I urge you to all have a read. You can find it here
After our most recent meeting with Tweag, they informed us that their audit is 75% complete.
During the meeting, they reported finding a few bugs over the previous week, all of which have been rectified already. One of these bugs was deemed crucial to DEX operation, the rest were small code errors.
As always, we will report any news as we receive it.
Last week saw us adapt our team further. For a while now we have been working on a very pesky bug, that is holding back the public test net.
I’ll not go into the details too much here but you can read it in the tech update (link below).
In short, the bug occurs when a transaction is submitted using the pre-computed budget (supplied from the Cardano library). At the point of submission, the transaction is rejected by the node because the “budget is too low”.
We have deployed a task force of devs to get this bug sorted as a matter of the highest priority.
In addition to this, we have slightly adapted the way our Streaming Merge algorithm processes certain tasks (merging, execution and ending of cycles). Initially, we were going to make this part of the UI where a user would initiate these.
However, we felt that this added an extra step to the user experience that was unnecessary. We have now opted for a bot to take care of this action.
The effect of this on the end product is a smoother experience without compromising the deterministic nature of Streaming Merge.
For the full tech update, click here.
Have you read our latest articles on the Cardax Academy?
Did you find them useful?
If you haven’t read any yet, have a look at two recent articles below.
Stay tuned folks.
I hope you all have a fantastic week.
Paul and the Cardax Team