Leverj, the first DEX to offer unlimited scaling via Gluon Plasma on its mainnet launch in February 2019, announced today some very important upgrades at the protocol and infrastructure level. This will serve as the foundation for its upcoming derivatives and related offers.
Going forward, the new Gluon contract enables seamless upgrades of apps. The Leverj team was able to upgrade with zero downtime, although any upgrades on a non-custodial smart contract require users to cancel orders, withdraw all their funds and redeposit to the new smart contract since the exchange is unable to move funds.
LEV native token staking continues to function as before. LEV stakers are responsible for governing app upgrades and providing security. Staking rewards are distributed in proportion to the stake amount.
Leverj Features
- Extensible – Gluon’s infrastructure is simply apps within the Gluon chain. Gluon’s foundation apps are a registry, stake, spot and futures chains. Gluon is extensible from the get-go, as those foundation apps can be upgraded (like any app) subject to Staker approval. Gluon apps are also a means to upgrade Gluon’s capabilities to quickly offer new functionality on future developments in the market. For example, game tokens can be easily added as a Gluon app.
- Limitless Scaling – Leverj pioneered fixed cost sidechains regardless of the actual number of users, transactions and any other form of user activity using small regular commitments to the host blockchain and fraud-proofs. Similar approaches are being considered by other DEXs today. This may lead to a new future where DEXs become the preferred platforms of trading due to superior security and privacy.
- Multi-App – Many projects who saw the speed of Leverj expressed a desire to use Leverj tech. Today, this is a possibility and Leverj can host other non-custodial apps with a single tx transfer between apps. Leverj will use this tech to host spot and derivatives exchanges and in the future, enable other apps like prediction markets, gaming and so on.