We are excited to have Easwap, a product developed by the InstaDapp team, create the first Permissionless Orderbook Reserve and also develop the first user interface for anyone to easily and permissionlessly create and list an Orderbook Reserve on Kyber.
Easwap is an ERC20 token swap platform powered by Kyber’s on-chain liquidity protocol, allowing users to buy and sell tokens in a fully decentralized manner. They support any token listed in the Kyber protocol.
With the integration of Kyber’s Permissionless Orderbook Reserves, Easwap can now allow anyone with little technical knowledge to create new Orderbook Reserves for any ERC20 token and can enable any potential market maker to post buy/sell limit orders into these Orderbook Reserves.
To begin you just need to login to MetaMask, visit the Easwap site and key in the address of the ERC20 token you would like to list. Check out their blog post here to learn more on how to create a Permissionless Orderbook Reserve and list tokens on Easwap. Get started by visiting https://easwap.com/lister/.
Overview of the Permissionless Orderbook Reserve
The Permissionless Orderbook Reserve, a new fully on-chain reserve type developed at Kyber, allows anyone to provide liquidity for the ecosystem in any ERC20 token of his choice without any action needed from the Kyber team. This reserve also introduces a new order type — limit orders. Users can now create bid and ask limit orders in a permissionless manner on the smart contract. Anyone can now set specific orders for their tokens based on their trading strategy similar to typical orderbook-based exchanges.
More details on this new reserve type will be released soon.
InstaDApp is a Decentralized Bank built on top of MakerDAO protocol that provides users with a customized user experience to interact with CDPs, enabling debt management to be performed seamlessly between borrowers. InstaDApp, with its sleek UI/UX, will make it easy for non-technical and non-financial individuals to take loans via MakerDAO.
Telegram group: https://twitter.com/instadapp/