be with real tokens or tesnet token? I mean is it going to be a sort of mainnet with whitelist access or a testnet with fake tokens?
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Let me tag @alexwearn and ask for a little help from him on this one, as I’m not entirely sure about it. :)
It will be with testnet tokens with incentives/rewards for those who participate. The goal is for market makers and traders to stress test the system but without risking real capital to do so.
And why is it taking so long for a tesnet without any real risk? Also most of the features you mentioned in the live demo are already live on the main competitor's platform (I've tried it out of curiosity). I know you guys are extremely cautious about security but competitors are building faster with more funding. What is the plan to take some market share if they have so much advantage over you and they have already implemented all the features that you mentioned as exclusive to IDEX?
Testnet is the final stepping stone before going live on mainnet, shortly after testnet if all goes well, so in that way it makes sense that the product being tested is pretty much a finished product or you are just testing incomplete version of the product.
Even thought it's a testnet, first impressions really matter. As you said we are trying to pull people away from products that are already in the market, and the way you do that is with a better UX. This includes not only some of the features we highlighted, but also things like performance and reliability for market makers. The better the infrastructure (lower latency, higher throughput, etc.) the tighter that MMs can quote, and the better your liquidity. This is a key piece which we see competitors are missing.
Thanks for answering my questions/critics!
And... How far have we come through this now ?
Revolving only on the testnet, here are the key points I read from the core notes: final modifications are in progress, brainstorming sessions for testnet incentive programs, putting together the comms + marketing promo materials, and design considerations.
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