The Cryptocurrency Exchange Alpha is capable of simulating the following:
With this alpha, we want to show how we are maximizing the utility of Ethereum as a secure component in our technical architecture and guarantee that we deliver the best possible performance.
Users will need tools to manage their local Ethereum wallet and load our Ethereum based web application - called 'Dapp (Decentralized App)'. You can choose one of the options below.
Once you have the Chrome or Firefox browser installed on your computer, please install the MetaMask browser extension.
We're actively developing a browser application for desktop platform with an integrated Ethereum wallet. Without installing a browser extension and the compatible browser, a user can simply download a packaged app and use any Ethereum dapp right away.
The wallet is at the early Alpha stage and currently sending transactions is not supported. Be sure not to send any ETH or crypto assets on Ethereum mainnet to the address created by this wallet.
Once you have completed your Ethereum wallet setup, it's now time to buy your first cryptocurrency. Go to http://crypto-alpha.yosemiteX.com
dUSD is used by YOSEMITE as a stable (dollar pegged) trading currency. For the alpha, we provide each account with an initial amount of test dUSD. For more information about how dUSD works, please refer to our technical white paper.
If you first visit our dapp with Ethereum wallet unlocked, you will automatically see the above popup for depositing $50,000 worth of dUSD into your Exchange Service account. Or you can simply click a 'Get dUSD' button at the top-right to see this popup.
Note: Your dUSD will not automatically show up in the Metamask interface. However, it can be checked within the dapp. The dUSD and cryptocurrency amount in 'Tradable' are the assets deposited to exchanged account. The free dUSD faucet automatically deposits requested $50,000 dUSD right into the exchange account like below.
Note: In the future, we will provide a public method whereby any 3rd party can easily verify the validity and correctness of all YOSEMITE transactions. For the technical aspects of transaction validation and security, please refer to our technical white paper.
All trading funds are kept in the YOSEMITE Exchange Vault smart contract and all trading operations are processed off-chain for high performance. However, every operation is digitally signed with an Ethereum account (either by the user or by the trading server) to ensure transaction security, immutability, and accuracy.
At any time a user may withdrawal funds from the Exchange Vault contract into hir/her own Ethereum account. These funds will no longer be available for trading (until they are deposited into the vault contract once again). Because withdrawn funds are no longer locked in the Exchange Vault contract, they become fully controlled by the user to be used on the wider Ethereum network like any other crypto token.
To withdrawal funds:
Note: This withdrawal is an on-chain Ethereum transaction which you didn't pay gas for! We call this type of transaction a "delegated" transaction, whereby the user allows the YOSEMITE service to act on their behalf by digitally signing their actions. The end result is that users don't need to pay gas fees for their actions but instead pay fees in dUSD. "Delegated" transactions are used frequently on the YOSEMITE platform in instance where there is a need for both blockchain security and simple user interaction.
We're always happy to get feedback and answer questions.
For comments or inquiries, please email us at contact@yosemiteX.com