write in the X-CASH’s Discord by Paul Bugnot (June 17, 2021) | Republish on Medium by Ju (June 18, 2021)
Hello everyone !
I would like to take this occasion to write a quick update about the WXCASH.
First, a throwback on what has been done (and what @Denis achieved).
- The X-Bank backend infrastructure has been updated and improved to have better stability of services. We have also added support to run and operate a ETH light node securely within the backend of the X-Bank to manage all operations on the ETH chain.
- The X-Bank has been revamped, the landing page updated and some not needed features have been taken out (bye bye airdrop page).
- The swap feature in the X-Bank is completely integrated. There are few others things to correct, and small bugs that we have found during the testing period that are being addressed, but at this point nothing critical.
- We have tested the swap feature, the deposits and withdraws from the X-bank to Metamask on Roptsen network.
- We are now testing the same features from and to the Matic Mumbai Network (testnet) (cf picture)
Now there are some stuff that remains to be done, and some difficulties to overcome:
- We are having trouble to run and manage a Matic node in our infra backend. The documentation is scarce, and expectedly less provisioned than Ethereum’s. This is a minor set back, and we are exploring our options (managed services) and are in contact with the Matic team to find some help.
- We are still assessing several contract provider for the smart contract review and security audit. We are looking for the better service in the least amount of time, because we are convinced that it shouldn’t take long once the specs have been provided.
Final Words: I know and understand the frustration that can be felt by our community and long-term investors, that are impatient to see the next X-Cash feature out. Please, remember to put things back in their context.
We are not an ERC20 token, where thousands of solution to bridge and swap tokens exists already. We are bridge privacy and monero-legacy coins to ETH, which is new and much more complicated than any other bridges out there.
Please don’t berate the team and asking for fast development of a feature that is created from scratch. Rather, support and cheer for the work, help us by being patient and understanding. Also, as the question and idea has been raised within the community and the team.
We could well release the WXCASH on ETH without looking at a L2 solution like MATIC. But we don’t want you to pay excessive fees for a single swap. Considering the average holding amount in the X-Bank, the cost of the swap on ETH would actually be paid with the entirety of your balance.
We don’t want that, and we want the swap to be free. If we take the hit on the fees, we will be bankrupt quickly. Matic enables us to propose the swap to you for free, while joining a promising ecosystem and a window to the trendy topics in cryptocurrency and DeFi.
And to finish, in parallel to that, and because work never stops, Zach has been moving forward on the next feature on the roadmap. Having a bridge on ERC20 is good, but we mustn’t forget that X-Cash is before-all working on bringing the best of technologies to the privacy coin space.
Your support is in good hands
Important Links
- Website : https://www.xcash.foundation/
- Join the community on Discord: https://discord.gg/8VD74ba
- Learn how to vote with your XCASH and get a passive income:
https://docs.xcash.foundation/dpops/vote-and-staking. - Visit the X-Bank: https://x-bank.io/.
- More links on X-Cash: https://linktr.ee/x.cash.
