Republic Protocol, a decentralized dark pool exchange protocol has been running its testnet now for more than two months. Now today, the CEO of Republic Protocol Taiyang Zhang provided a statistical review from the testnet, which shows great progress.
To date, Republic Protocol has approved 100s of applications — with over 200 applicants taking the opportunity to run testnet darknodes. In the last two months over 14,000 orders have been matched.
More Statistics:
- 20,000+ transactions on the Kovan testnet (Ethereum transactions that are relevant to the Republic Protocol system).
- 14,000+ orders matched.
- 500+ traders.
- $21,689+ fees earned by darknodes (0.2% of total volume, in approximate USD mainnet value).
“We couldn’t be happier with what has been accomplished so far but with that said, it is important to discuss the future utility of the Republic Protocol testnet, and how it will operate going forward. testnet stability will remain paramount for the foreseeable future, so any of those who want to develop dark pools, tools, and services, experiment with trading bots, or anything else can do so in a safe and highly functional testing environment. The protocol has unique use cases outside of RenEx and fostering a community and innovative testing ground will remain a top priority after the mainnet Beta launch. The testnet also serves as a staging area for the team to test bug fixes, protocol upgrades and experiment with implementations so for that reason Republic Protocol will operate and maintain a majority of nodes in future testnets.”
Timeline
Over the coming weeks, Republic Protocol plans to close public participation for running testnet darknodes. The Republic Protocol testnet will continue to be available to the public and will be operated by the Republic Protocol team as mentioned above.
Friday 31st August 2018
Applications for running testnet darknodes will close. From this point, no more applications for testnet darknodes will be accepted. However, the applications that have already been submitted will continue to be processed and approved over the upcoming week.
Friday 7th September 2018
Applications for running testnet darknodes will stop being processed. From this point forward, no more applications for testnet darknodes will be processed or approved. People that are already running testnet darknodes can continue to do so for the next week.
Friday 14th September 2018
Public participation for running testnet darknodes will end. Close partners and selected active community members will be offered the opportunity to continue to run testnet darknodes.
Alternative Testnets
It is not uncommon for decentralized networks to run multiple different Testnets to trial different features and governance (for example, Ethereum has Ropsten, Kovan, and Rinkeby). Anyone that is interested in running their own testnet — in addition to the one that will be operated by the Republic Protocol team — should contact Republic Protocol on Telegram for guidelines and support.
Republic Protocol CEO, Taiyang Zhang concluded:
“Taking these steps will set the foundation for a stable testnet operation that is essential for future development and experimentation. Ultimately to allow us to continue to push the envelope for what’s possible with Republic Protocol, working towards our goal of becoming the premier decentralized platform for dark pool trading of cryptocurrencies and digital assets in a tokenized world.”