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Mechanics of the Future, known for making the Insider Protocol, will design its DEX
- The Mechanics of the Future team is designing its very own DEX, titled Swap Service.
- Launch details are yet to be disclosed; however, the launch date will be announced in a few weeks.
- The team is also working on transaction time & fee reduction and the support of third-party developers.
The anticipated decentralized exchange (DEX) SWAP SERVICE will be designed by the same team that developed the Insider Protocol.
The Bitcoin news portal, Bitcoinist, on its today’s blog, revealed that the team behind the cross-chain Insider Protocol project, the Mechanics of the Future, is designing its very own DEX, titled SWAP SERVICE. The upcoming DEX’s launch date will be announced in a few weeks; till then, all other details regarding the anticipated launch are kept on hush.
Insider Protocol: a Trading Bot Ecosystem
The Insider Protocol project currently boasts a “TRADING BOT ECOSYSTEM.” Just as the description suggests, it has a trading bot, which is based on the high-frequency trading (HFT) algorithm. The extensive ecosystem is to include smart contracts, decentralized finance (DeFi), decentralized exchange (DEX), decentralized autonomous organization (DAO), Atomic Swaps, MimbleWimble protocol, Validation, Merchant Platform, Escrow, Governance, and much more.
Based on cross-chain without sharding and layer two solutions, the project hosts a sizable set of complex algorithms and trading patterns for numerous market situations. The situations and patterns can then further be divided into more situations, attributing to an enormous amount of possible scenarios.
Project’s Questionable Success
Given the countermeasures made by stock and crypto exchanges, an AI-based trading bot’s survival in a ceaselessly evolving market is highly questionable. Some parts of the HFT method are considered illegal. To overcome this obstacle and keep the platform in step with the market, developers need to improve and modify the algorithms constantly. So far, the team seems to be dealing with this efficiently.
Team’s Future Plans
In the upcoming months, the team will also be exploring the DeFi sector with their Callisto project, following Swap’s launch with initial liquidity of $10 million. Moreover, Bloomberg’s Wednesday blog disclosed the Mechanics of the Future team is also working on transaction time and fee reduction and the third-party developers’ support.
Insider Protocol project is now advancing to the Binance Launchpad and will work with many networks, including Binance, Polkadot, Cosmos, and Ethereum.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
