Republic Protocol News

Republic Protocol’s recent upgrades allow for the separation of third-party dark pool exchanges from the decentralized dark pool engine (e.g. Republic Protocol itself) and therefore brokers/exchanges can now offer fiat and stablecoin integration with ease.

They could, for example, have a token that represented USD (not even a stable coin, just an identifier) to represent a USD-BTC order and all Republic Protocol does, is see matches for these pairs and initiate settlement with the broker/exchange. Then they can do a direct USD to BTC trade between their users. No token for USD even needs to exist for the matching process to work. The users simply send their orders, no tokens, to the dark pool and after being matched with someone, they use their broker's settlement layer to perform the trade. Brokers may internally be using a stable coin or facilitating a direct swap.

In the case of RenEx specifically, it seems the team will do the swap either directly on Ethereum or through atomic swaps, because the aim is to be as decentralized as possible. Of course, the example given above is assuming some amount of centralization and trust at settlement, but the rules and fairness of the dark pool remain decentralized and trustless.

The most important thing to note is the Republic Protocol allows for flexibility, it is totally dependent on how the exchange wants to structure their offerings. Some will have a more traditional delayed settlement and just crediting balances (in the very centralized solution) to facilitate speed, whereas others may require one to send your FIAT and/or BTC to them first before they approve your orders to be opened (this way they can guarantee settlement will be possible).

Regardless of how brokers/exchanges design their Darkpools, Republic Protocol will be the foundation for an entirely new financial ecosystem.. exciting times ahead.

Development Weekly Roundup

• Successful testnet participation with first testnet fees collected by members of the public testnet Darknodes
• Digital Ocean is now supported when deploying Darknodes using the official Darknode CLI tool
• 88 commits made to master branch this week

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There will surely be a few whales lining up to use this as soon as It is up and running end of Q3

Even if it is just 10 or 20 people. They are out there.

I have created a page for Republic Protocol (REN)on coinwik.org. I would appreciate if the REN community members can check the page and let me know if anything needs to be corrected. Also if someone wants to take over maintaining REN page, PM me and I can get you set-up. Please check this page and give feedback, thanks:

http://coinwik.org/Republic_Protocol

Let me know what you think about this and if you have any questions.

Hi, does anyone know how we're supposed to withdraw fees collected from processing trades? Has this been implemented yet? I downloaded the CLI but none of the options have to do with fee withdrawal, and I haven't seen any documentation with commands we should run after SSHing into a darknode.

Also, is Republic Protocol planning to release the code that compiles into the images deployed by the CLI? I only see repositories for the CLI and the UI.

Paddy H. coming in with the most riveting grainy video explanations of Dark pools, yet to be seen. In all fairness, he does very well in articulating the benefits for participants, and with proper deduction, one can see how a provably fair platform will certainly find its place within the ecosystem.

In all his glory: https://www.youtube.com/watch?v=XTIXPUyBpjQ

As you guys already know, CBOE has applied for a Bitcoin ETF which will be approved or rejected next month. I was wondering, once these ETFs are approved (this one or future submissions), won't that make it easy for OTCs, wealthy families, institutional investors (and others REN is targeting) to easily use the same financial instruments already available in traditional markets to purchase their crypto assets?

Traditional markets already have darkpools and if crypto is going to be traded through these instruments, why wouldn't investors already familiar with those tools keep using them for crypto assets as well?

"The winner will get a free listing on KuCoin as well as a 30,000 USD advertisement package! On top of that, we are also committing 5 BTC value purchased in your tokens to be distributed via KuCoin to the users that voted for the winning project"

https://medium.com/@blok.network/kucoin-listing-competition-d169a15785c2