Saturn token / exchange


#1

An investment in saturn token is that an investment in only the DAO order book, or both the exchange (The front end / UI) and the DAO ?


#2

Sorry @aulabitcoin , not sure if I have followed your question. Have you read this thread?

It outlines the use of both our Saturn tokens, let me know if you feel anything needs further clarification. Regarding your question about the front end & UI, this will become opensource which is part of our plans for 2019.

Hope that answers your query :slight_smile:


#3

Thanks Sam, but do the shared ownership of Saturn token holders include the Front End Exchange or only the DAO order book?


#4

Really sorry, but I am not really sure I follow your question. What do you mean by shared ownership of the front end exchange?


#5

Do the saturn token owners also own / control the exchange front end? or is somebody else owning / controlling it ? I understand that the Saturn token holders own / control the DAO exchange orderbook.


#6

The exchange’s front end is currently maintained & updated by Saturn’s development team, but the front end is simply buttons & a nice UI that make it easy for you to interact with the exchange’s smart contract as Saturn’s orderbook and all the trading happens directly on the blockchain. I mean if you would like to see something added to our frontend, the best way is to write a request here. I am not sure if we would ever have votes by Saturn DAO where token owners decide how the frontend is developed, because in the future we would hope to see people simply build their own if they wanted to change something.

I can see there always being an “official” front end for our exchange which is maintained by Saturn’s development team, but we aim to promote more front ends being built. Having multiple front ends for our exchange across different web servers would be a great way to achieve even greater decentralization.

I believe once the write portion of Saturn’s API is finished (which will allow creating orders & execute trades) then it should be possible to start creating your own front ends.


#7

Like Sam said - the frontend part is just buttons and charts on top of public data and public smart contracts. If you know how to use the blockchain without a UI (i.e. you are a coder, or you have superior telepathic abilities and you can connect your brain directly to your blockchain of choice) then you can still use Saturn Protocol and contribute liquidity. This very same liquidity will then be seen by every other app that uses Saturn Protocol!

People are free to build their own experiences that use Saturn Protocol and our open source tools, and we even have plans to incentivize this development.

Projects that can use Saturn Protocol include, but are not limited to:

  • Alternative exchange UIs (think something more professional like Coinbase Pro or more casual like ShapeShift, that use Saturn Order Books for liquidity)
  • Instant buy widgets. If you are an entrepreneur you would embed this widget on your website to let people buys your tokens right from your website, powered by Saturn Protocol.
  • Sub-exchanges. For example, imagine you’re making a game with cryptoassets (i.e swords, or even tomatoes). Our tools will make it easy to embed decentralized asset trading right into your game/dApp, allowing your users and professional traders to share liquidity with each other thanks to the magic of smart contracts.
  • Integrations with other protocols. For example, recently on ETH chain veil.co came up with their own business that uses Augur and 0x under the hood.
  • Potential new, novel uses. Possibilities are literally endless, we’re only limited by our imagination and desire to work! Wherever there needs to be a marketplace I do not see a reason why it shouldn’t be a decentralized marketplace powered by Saturn Protocol.

Saturn token is the governance token of Saturn DAOs on each chain. The DAO collects fees from trading and can decide to use the collected funds whichever way it likes. Some ideas on how the money can be used:

  • Fund development. Want more tools like trade explorers, new UIs, monitoring tools, telegram bots, new smart contracts, dApps, crypto games, etc.? The DAO can vote to allocate funds to developers like a treasury would.
  • Pay out dividends proportionally to token ownership.
  • Buy back SATURN. Just like your S&P500 companies can buy their own stock to decrease supply (and thus increase stock price), Saturn DAO can vote to buy SATURN tokens from the market. This way SATURN token price will go up and people should receive bigger dividends as well (since there are less tokens in circulation, hence everybody’s share of the DAO increases).

Hope this answers your question!


#8

(i.e. you are a coder, or you have superior telepathic abilities and you can connect your brain directly to your blockchain of choice)

I wonder which one is @Neuron :thinking: