Phase 1: Crypto Trading

Trader focus.

This phase will focus on the cryptocurrency exchange functionality and the trader experience. The goal is to deploy the basic exchange functionality that shall allow traders to swap cryptocurrency without the use of NFT's as an intermediary.

The exchange will appear similar to ImmutaSwap's Swap Wizard feature, in that it will simply provide the ability to exchange ERC20 tokens. Internally, the mechanism for swapping will be rebuilt from the ground up.

The ImmutaSwap Cryptocurrency Exchange shall include the following milestones:

  • Redesign the ImmutaSwap website to enhance the user experience.

  • Implement an Automated Market Maker using the constant product formula.

  • Create Wallet Silos to protect against hackers and insider threats. Hire a security consultant to audit our code and security procedures.

  • Reduce transaction base fees from 5% to 3% and provide promotions to further reduce fees.

  • Reduce transaction speeds from 5 minutes to 15 seconds (in ideal network conditions).

  • Allow users to input a slippage tolerance to prevent front-running attacks.

  • Support cryptocurrency swaps of any value but integrate price oracles into the UI to inform users of the price impact of their trade. Warn users if the price impact exceeds 5% and offer suggestions on how to save money.

  • Create an arbitrage bot to balance prices between ImmutaSwap and other exchanges.

  • Establish a strategy to comply with international regulations regarding decentralized finance such as Know-Your-Customer (KYC) laws.

ImmutaSwap shall provide all liquidity during this phase and shall retain custody of the crypto funds during the transaction. All ImmutaSwap server communication shall require a digital signature and a complete swap transaction shall require two digital signatures (excluding the wallet to website connection).

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