Understanding The Importance Of Radex’s Upcoming API

With the Radex API near to its release date, here is an article to go over all the benefits you will see in the next few weeks

Understanding The Importance Of Radex’s Upcoming API

Update 07/11/2018: Though Radex is still live for historical purposes, the information below is outdated. We have since released a new decentralized exchange Saturn Network with many upgrades like wallet to wallet trading in one transaction or token self-listing, this required a new smart contract & therefore we recommend you no longer use Radex and migrate over to the new exchange.

Radex is a zero fees decentralized exchange for trading Ethereum tokens, that we have developed to support our Saturn protocol as a proof of concept. It has continued to receive a lot of love this past week, with updates bringing in a new domain & enhanced market overview dashboard.

I thought it would be a good moment to have a quick look at our roadmap for Radex and go over how important the API will be for the future growth of our exchange.

Currently, checking the order book for any of our listed tokens is a bit of a clunky process and we admit it, not the greatest experience. You have to wait for MetaMask to sync with your account and the blockchain, before it shows you any data. Sometimes MetaMask just refuses to load & you spent the next five minutes clearing your cache & screaming "Refresh, Refresh, Refresh”

When our API is released in June 2018, this is going to really revolutionize the whole process. In fact, we feel it may even be the best invention since sliced bread.

Radex's API update - what does it mean for you?

  • A much improved & needed trader user interface, you will have all the vital data on your dashboard at all times - token price tracking & daily volume.
  • You will be able to preview the orderbook without the use of MetaMask, Mist or Brave browser - meaning everything will become lightning fast.
  • MetaMask will only be needed to sign transactions which will remove any synchronisation problems.
  • Never miss a profitable trade - be able to trade on your mobile both Android & iOS.
  • Of course anyone who prefers can still trade directly on the blockchain without the need to access the webpage or API.

And what about further down the Radex roadmap?

  • We changed domain name for a reason, .ai stands for Artificial Intelligence, as in trading bots.
  • Our API will support the use of Market Making bots and we will provide educational content for you to set this up easily.
  • We will teach you how to set up smart HODL contracts so that you always stick to your trading strategy and do not lose due to panic selling.
  • The ICO planned in May to support the Saturn protocol will be the perfect liquidity boost that Radex needs.

How will this secure the long-term future of Radex?

  • The API opens the doors to other developments like a Radex Explorer, which would function much like EtherScan, but would be able to understand modern ERC223 tokens like STABLE.
  • It will support the release of Widgets like Changelly where you can easily trade your tokens via mobile in a matter of seconds.
  • Our development team has already very much backed the idea of the API being open-source once thoroughly tested, meaning there could be Hackathon styled competitions to create the best widgets.
  • And if anything is missing? The Saturn protocol will surely vote to fund its development because remember this project is by the traders and for the traders.

Essentially the release of our API and upcoming Saturn Network ICO will help address one of the number one concerns for an exchange which is lack of liquidity. When liquidity is low it means that trade volumes stay low, which is not something you want for the positive development of an exchange.

We believe that with the release of our API, the trade volume will continue to grow. This will lead the way for more upcoming ERC223 tokens being listed, such as NANJCOIN or CoVEXcoin, continuing the growth in liquidity.

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