Ethershift is a service that allows users to quickly and easily exchange between different ERC20 tokens at the market rate minus a fee, without having to go through the hassle of signing up at an exchange, or learning how to use a decentralized exchange like IDEX. Decentralized exchanges like IDEX are amazing, however a lot of average crypto currency investors feel like they are too complicated, and therefore a lot of great projects never get the exposure they deserve. Ethershift is making the process of acquiring the best and up & coming tokens easier than ever before.
To exchange tokens, users send value to a special address (which indicates the type of token they would like to receive back) and the exchanged value will be sent back to them at the address they sent the original tokens from. This user experience is implemented by fulfilling the exchange using hot wallets, and then later mirroring the trade (at a hopefully equivalent rate) on an exchange, and periodically re-balancing the exchange/hot wallets. Ethershift takes a cut of profit (half of it in the form of the input token, half of it in the form of the output token) to account for the risk of the exchange rate changing. Third-parties are able to integrate Ethershift into their own systems and receive a 50% cut of the profit via the Ethershift API.
Returns a list of supported ERC20 tokens and “ETH”. Generates a new Ethereum address for converting value into the token with name `token_name`. A profit_share (value between 0 and 1) fraction of the profits generated by this address will be set aside to be sent to profit_address once the value crosses some threshold. Returns the unsent profit-sharing balance earned by the address. Returns the current hot wallet balances for each token. Returns the balances for each token at each exchange.
Exchange objects are abstractions of an ETH/ERC20 token exchange. They control the balance stored on those exchanges and are the path through which the rest of the application makes trades, deposits, and withdrawals. An Exchange object provides the following API. the amount of tokenB that can be bought with tokenAvalue of tokenA in the near future. Returns an error if there isn’t enough tokenA balance on the exchange to actually carry out the trade.The internal implementation buffers trades before they are made, so it will take those outstanding orders into account. Using the balance on the exchange, buys tokenB with tokenA at the best rate currently available, returning the amount of tokenB that was bought.
All of the exchanges’ balances will be seeded with an IdealHotWalletAmount of each token. hot wallet. The wallet on the server will be seeded with the IdealHotWalletAmount amount of each token. If the call to MakeTrade returns failure, then it goes back to step 1. t’s important that steps 1-4 are not run in parallel for different deposits into Ethershift. It’s possible for there to not be enough balance in the hot wallet or the exchange wallet for these steps to go through.
The Exchange object’s EstimateRate includes all of the costs of depositing into the exchange, making the trade, and then withdrawing the trade. If there is only one exchange being used for any given coin, then (assuming not too much variability of the exchange rate) the balances in the exchange will mirror the balances in the hot wallet. When there is more than one exchange, the trades will be distributed over multiple exchanges. It’s possible for one of the hot wallet’s balances to drift far away from the ideal value while all of the exchanges’ balances are still within an acceptable range. It’s also possible for an exchange’s balance to drift too far while the hot wallet’s balances are still in the acceptable range.
As we progress, we will do a lot of fine-tuning of the IdealHotWalletAmounts and the algorithms for distributing trades and re-balancing the wallets to find the most profitable middle-ground between “we’re forced to use one exchange’s rate but deposits and withdrawals will always be amortized” and “we can pick the best exchange rate from any of N exchanges, but we’re reducing the amount of deposit/withdrawal amortization.” A separate EC2 instance will host Ethershift’s user-facing website. This website will show users the addresses (with QR codes) they should send tokens to in order to make exchanges.
The websites has an administration panel allowing some visibility into what’s going on in the Ethershift backend server. Since Ethershift fulfills its users’ trades before it can be certain of the exchange it will actually get, there is a significant risk that the exchange rate will worsen between the time Ethershift fulfills the user’s trade and when the Ethershift back-end makes the corresponding trade on an exchange. The Ethershift servers and accounts (e.g. domain registrar, AWS, etc.) are set up and administered from a new laptop running Linux that is used exclusively for this purpose. To reduce the risk of monetary loss, it is crucial for Ethershift’s design and implementation to undergo third-party security audits.
The Ethershift token is an ERC20 token that represents 50% of the gross fees collected by Ethershift. Each transaction that is made on any of the Ethershift products yields a 5% fee. The system automatically calculates the gross fee Ethershift collected after gas, and splits it into 2 wallets. One wallet is used for operating costs, salaries, legal, etc, and the other wallet is used to buy back Ethershift tokens. The maximum supply of Ethershift tokens is 15,000,000. 3,000,000 Ethershift tokens are allocated towards marketing, promotions, giveaways, bounties, and advisers. 3,000,000 tokens are allocated for team members and early investors. 9,000,000 are availiable for sale in the 3 rounds of the Ethershift ICO. If any of the 3 rounds do not hit their specific hard cap, the remaining tokens from that round will be burned.
For Information detail visit link in below :
My Bitcointalk Username : Jancuki
ETH Address : 0xCC028E8465c39c8B5D250431c82239dc7EE48a6
ETH Address : 0xCC028E8465c39c8B5D250431c82239dc7EE48a6
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