DeversiFi 2.0 brings high-speed trading and instant settlement to decentralised exchanges
Decentralised exchange DeversiFi is relaunching as DeversiFi 2.0, integrating StarkWare’s zkSTARK layer-2 scaling technology to cater for high-speed, instant settlement and deep liquidity for professional cryptocurrency traders.
This new integration enables traders to trade at lightning speed and with deep aggregated liquidity, directly from their privately owned cryptocurrency wallet.
“This StarkWare integration will transform the functionality of DeversiFi 2.0. The solutions born out will address the key issue of scalability - but without the usual traditional sacrifices of liquidity, speed, settlement and fees,” says Will Harborne, Co-Founder and CEO of DeversiFi. With DeversiFi 2.0, traders will now have access to a variety of industry significant improvements, including a current transaction settlement rate of over 9000 transactions per second, and the ability to massively increase this rate, if required.
New withdrawal certainty will reassure decentralised traders their withdrawal will happen, so they can stay ahead of the curve.
DeversiFi 2.0 can also offer the most competitive fees of any liquid non-custodial exchange ranging from 0 per cent to 0.2 per cent.
“Commercial grade Defi needs robust cryptography and zkSTARKs are fastest in class, post-quantum safe and can easily scale to tens of thousands of transactions per second with no trusted setup. Partnering with DeversiFi will bring the benefits of ZK-STARK technology into the hands of every trader. We are excited to see traders embracing self-custodial trading without sacrificing liquidity or speed," says Eli Ben Sasson, Co-Founder and President, StarkWare.
StarkWare is the first product-grade scalability solution for non-custodial trading and the most robust protocol in the Zero-Knowledge Proof (ZKP) family.
ZKP technology enables scalability by validating batches of trades in the cloud and submitting a proof of each batch, that is then verified on the Ethereum blockchain, consuming a fraction of blockchain resources compared to the standard on-chain transaction processing.
As part of the relaunch, DeversiFi has also assembled the Data Availability Committee (DAC), made up of established Ethereum ecosystem participants including Consensys, Infura, Bitfinex, NetherMind, Iqlusion, Cephalopod, StarkWare and DeversiFi.
“ConsenSys is excited to play an important part in the new professional-grade DeversiFi exchange as core members of the Data Availability Committee — providing a trustless second layer of security and assurance, whilst ensuring trade data integrity,” says Consensys.
The DAC’s role is to continuously attest (with their digital signature) that they retain a copy of the updated state of account balances. Without their signatures, the exchange cannot operate. In case DeversiFi and StarkWare go offline, the DAC members role is to publish the updated account balances, thus allowing customers to withdraw their funds directly from DeversiFi’s Ethereum smart contract.
The next chapter for DeversiFi puts the control directly in the hands of traders, allowing them to securely experience DeFi at its finest and fastest. In line with this, the user-friendly Ledger wallet has been chosen as the first native wallet integration on DeversiFi. This serves as a mark of user control with many surveyed traders favouring the wallet for it’s industry leading security advantage.
“With DeversiFi 2.0 bringing the speed of ZKStarks and the security of Ledger to traders, it’s clear that this second iteration of the platform is the next step in decentralised finance,” says Pascal Gauthier, CEO of Ledger.