Excited to announce that we intend to release an open source Dapp for minting Saturn DAO tokens that follow the ERC-20 standard on the Ethereum network. The goal is to integrate Saturn Protocol further into the growing decentralized finance (DeFi) ecosystem by enabling SATURN to be tradable on various decentralized exchanges. Saturn DAO Token in its current form cannot be listed on other DEXs as it follows the ERC223 standard. The new dapp will solve this problem by allowing holders to mint Saturn20 tokens.
With SATURN trading on new markets, the token will receive exposure to a wider range of traders which will help it become a more liquid asset. The latter being an important aspect to continue positive growth of the project, attracting new token holders and effectively growing Saturn DAO.
How will Saturn20 work?
- You will be able to mint and burn Saturn20 via our website once the new dapp's UI is live.
- An ERC223 to ERC20 conversion means you will send ERC223 tokens to the wrapper contract as collateral, it will mint new Saturn20 tokens (increasing its total supply) and send them to your wallet.
- An ERC20 to ERC223 conversion will call the burn method on the wrapper smart contract, it will destroy the tokens (reducing its total supply) and give you back the collateral.
The wrapper smart contract and the UI will be released entirely open source. We will include documentation that developers will be able to follow, completing our milestone of releasing the Dapp Dev Kit.
When will Saturn20 dapp go live?
As Saturn20 will immediately allow new exchange listings, we believe it is important Saturn DAO members are aware of an exact date and time in advance. We will make a follow up announcement to confirm the exact date of the release. You can expect this to happen in the very near future, as so far our internal testing has been successful. The wrapper smart contract has been deployed on mainnet, and is listed on the exchange for testing purposes. To avoid any confusion, we will use the following logo:
What DEXs do you intend to list on?
With the dapp's release, we will immediately ensure Saturn20 is listed and tradable on Uniswap. This will allow us to integrate Atomic Orders for SATURN token, and provide instant swaps to our community. From that point on we will monitor demand for trading Saturn on new exchanges, and would like to hear your suggestions.
Future is bright!
New to Saturn Network?
If you would like a Crypto Press Release published for your project on our blog, you can learn more here. We also offer Airdrop marketing and Free Exchange Listing, which is a great way to promote your token to our active DEX traders and Dapp users - check out our services below!