KoinDX Mana Fountain

We at KoinDX are building the first DEX on Koinos blockchain and one of the few Discount-DEXs that exist. Our goal is to be the most accessible DEX in the world. Hence, this is the reason why we will provide free Mana for everyone when using KoinDX.

The halting problem

Mana is one of the most valuable things on Koinos blockchain. It is the solution to the halting problem. Ethereum did solve this problem with transaction fees. The more network resources the contract needs, the more transaction fees you have to pay. This seems like a solution at first. If you look closer you will find out, that transaction fees on Ethereum are still a key factor which lowers the accessibility significantly. The Ethereum transaction costs are paid in GWEI which is a fraction of 1 ETH. Therefor, you are paying the fee with an asset which has a dollar value.

The real solution

The solution on Koinos for this specific problem is Mana. Mana is the reason why transaction costs are not a dollar priced fee. Mana instead can be seen as your share of the existing network resources. Every Koin comes with 1 Mana, and it takes 5 days to restore 100% of this Mana, if it has been consumed completely. This is the simple but powerful mechanism that prevents spam in the Koinos network.

Why KoinDX provides free Mana

Why does KoinDX offer free Mana for everyone? Our goal is to be the primary and most accessible DeFi platform on Koinos blockchain. Everyone should have the opportunity to use the functions of Koinos like swapping, liquidity providing, the launchpad or…. (much more to come!).

Applying the zero-mana-needed policy will allow users to trade even if they don’t own Koin.

As you might know, a DEX belongs to the most important dApps in modern cryptocurrency ecosystems. We are aware that KoinDX will be the reason for a lot of transactions, and this project will use a lot of Mana, aka network resources.

Unfortunately, KoinDX has no source of endless Mana. We simply can’t create Mana out of thin air, and that’s okay.

There are multiple ways for us to ensure that KoinDX will cover its users Mana consumption. Our Mana Fountain will be filled by Mana of Koins which the DEX received at its IDO.

Though, things might change if the number of transactions will increase immensely. One possible scenario would be to restrict subsidizing the Mana cost of transactions to wallets without Mana only.

The new test net instance of KoinDX

Since last week we are hosting a new test net instance to collect the feedback and ideas of you, our community.

You can find the test net instance at http://testnet.koindx.com

Be sure to have harbinger test net set up in your Kondor wallet. If not, take a look at this guide by motoengineer, posted on Koinos Forum. The post will also explain to you how to use the test net ETH KOIN bridge.

The Mana Fountain is available on test net now, too!

Try to trade some VHP <> WETH or our governance token $KOINDX.

Yes, it was named $KNDX in the past. Luckily, we have discovered that we wouldn’t be the only project using this symbol. That’s why we decided to switch our token’s symbol to:

$KOINDX

We also updated some UI parts in the vote section of the interface. now on our test net instance.

How do you like the Mana Fountain? How do you like $KOINDX?

Tweet it and share with your friends.

Share your feedback and ideas about KoinDX on our social media channels, or simply use the following form:

https://koindx.notion.site/KoinDX-Feedback-a8ccda8f505a480a917d20077b1cda73

Social:

https://twitter.com/koindx https://t.me/koindx https://discord.koindx.com