ZKX’s Polaris Testing Network Gets an Upgrade: Introducing Market-Making Robot and Fund Rate Function

On April 25th, ZKX, a decentralized derivative trading protocol based on Starknet, announced the release of a new version of the testing network Polaris, which includes a market making robot to accelerate order execution and a fund rate function to maintain platform stability.

Starknet Ecological Derivatives Protocol ZKX New Test Network Polaris

As the world continues to embrace decentralization, the demand for innovative decentralized solutions that cater to the needs of various industries is on the rise. One such solution is ZKX, a decentralized derivative trading protocol based on Starknet, designed to provide a secure and efficient platform for decentralized trading.
On April 25th, ZKX announced the release of a new version of the testing network Polaris, which includes a market-making robot to accelerate order execution and a fund rate function to maintain platform stability. In this article, we will delve deeper into the benefits that these new features bring to the decentralized trading landscape.

What is ZKX?

ZKX is a decentralized derivative trading platform that utilizes the cutting-edge zk-rollup technology on the Ethereum network to achieve fast and secure transaction processing. Its unique features such as higher transaction throughput, enhanced privacy, and lower transaction costs make it an attractive option for institutional and retail traders.
The platform offers a wide range of derivatives products such as perpetual swaps, futures, and options on popular assets such as BTC, ETH, and more. The protocol is non-custodial, meaning that traders have control over their funds at all times.

Introducing Polaris Testing Network

The Polaris testing network is an essential component of ZKX’s protocol development process. It provides a platform for testing new features, improving usability, and identifying any potential flaws before deployment to the mainnet.
With the release of version 2.0, ZKX has made significant strides in providing a more robust and efficient trading experience for its users. The two new features introduced in this version, the market-making robot, and the fund rate function, will help further enhance the platform’s offerings.

Market-Making Robot

A market-making robot is an algorithm that provides liquidity to the market by continuously making buy and sell orders on behalf of traders. It helps to reduce the spread between the bid and ask prices, providing traders with faster execution times and reducing slippage.
The market-making robot on the Polaris testing network operates by placing orders according to the prevailing market rate, thereby ensuring that traders get highly competitive prices. ZKX’s market-making robot ensures that there’s always enough liquidity in the market, making trading on the platform seamless and convenient.

Fund Rate Function

Another critical feature introduced in the Polaris testing network is the fund rate function. This function is designed to adjust funding rates automatically to maintain platform stability. In decentralized finance, funding rates are the fees exchanged between traders when holding a position overnight.
The fund rate function adjusts funding rates by creating incentives for traders holding the opposite position of the majority of the market. This ensures that the platform remains stable by discouraging market manipulation, leading to a fairer and more sophisticated trading environment.

Conclusion

The release of the new version of the Polaris testing network with the market-making robot and fund rate function is a significant milestone for ZKX in fulfilling its mission to provide an efficient and secure protocol for decentralized trading. These features will provide traders with highly competitive prices, faster execution times, and a stable trading environment.
ZKX is undoubtedly one of the most innovative projects in the decentralized landscape, and with the launch of Polaris V2.0, it is poised to make significant contributions towards revolutionizing the broader financial industry.

FAQs

1. What is ZKX?
ZKX is a decentralized derivative trading platform based on Starknet that provides a secure and efficient platform for decentralized trading.
2. What is the Polaris testing network?
The Polaris testing network is an essential component of ZKX’s protocol development process that provides a platform for testing new features before deployment to the mainnet.
3. What are the benefits of the market-making robot and fund rate function?
The market-making robot offers highly competitive prices, faster execution times, and reduced slippage, while the fund rate function ensures a stable trading environment and discourages market manipulation.