Blog

• Introducing Astrolescent V3: The Next Generation

  Astrolescent - July 12, 2024

  first design, an updated algorithm, and the elimination of our trading fees. Brand new design The most noticeable change is the completely redesigned appearance. This includes a new token icon and logo, a revamped user interface, and visuals for X and TokenTrek. The new design has been developed for mobile devices first and was then adapted for desktops to fully take advantage of the new mobile-2-mobile experience offered by the Radix network. Updated algorithm With this release, we are also introducing an updated algorithm capable of finding more advanced routes to maximize the number of tokens you receive for every trade. We have significantly changed how we handle trades involving the wrapped assets from Instabridge. We plan to implement further updates soon to enhance the routing of any token on Radix. No more trading fees Yes, we have eliminated our 0.1% trading fee! We aim to provide you with the best deal on Radix by comparing all the decentralized exchanges (DEXes) and routing your trade to ensure you get the best price. Adding a trading fee on top of the fees charged by DEXes makes it more challenging for us to fulfill this promise. Therefore, we have decided to remove the trading fee when trading via Astrolescent and explore other sources of revenue. Fee sharing with partners A new revenue stream for us will be the ability for our partners to easily incorporate their own fees when integrating the trading widget or using our APIs. We offer a user-friendly fee component that can be added to the trading widget and our APIs, providing a means to collect all the generated fees and a user interface for withdrawing those fees. We hope you enjoy our new release!

• Astrolescent v2 launches on Babylon.

  Astrolescent - October 9, 2023

  routing algorithm that improves route discovery and reduces price impact. It compares direct and advanced routes to get you the best deal possible when selling one token to buy another. Hop across liquidity pools to get the best price.Astrolescent v2 integrates with the most popular DEXes on Radix, starting with DefiPlaza and Ociswap. Our custom-build integrations allow for better price discovery and make it possible for Astrolescent v2 to provide a quotation even when you don’t have the tokens in your wallet. At the moment of writing, any token with at least 10,000 XRD of liquidity in a pool is automatically added to Astrolescent v2. We added this limit to prevent tokens and pools with only a few dollars of liquidity from showing up in the token lists. And best of all, while Astrolescent v2 is in beta, there are no fees! Updated design Part of our relaunch on Babylon also features an updated design that focuses entirely on what we do best: Swapping tokens — no distractions, simply the best UX. Our new homepage.Plans for the near future include returning the token prices, showing you the average weighted price of tokens and their popularity, and the Portfolio Tracker to see your holdings across multiple accounts in one overview. But the focus of Astrolescent will always remain to offer you the best UX to trade tokens. Astrolescent DAO The Astrolescent DAO is here to give you a voice in the future of our organization. By adding the most prominent ASTRL LP tokens to the Governance Portal, we’re making the DAO more democratic and giving you the power to vote with your ASTRL and the selected LP tokens. Once this change is implemented, we’ll continue with new governance votes. We aim to make Astrolescent a genuinely decentralized organization because we are only as strong as our community. Airdrops and staking Wen airdrop? Soon! Once we shed our beta label, we’ll start our weekly volume airdrops again, dropping ASTRL to the users who trade via Astrolescent. We’re also working on ASTRL staking, where you can stake your ASTRL to receive a part of our fees in return. $ASTRL token migration To use the latest Babylon features, we decided to upgrade our old Olympia token to a new one. Migrating your $ASTRL is a one-click process with no deadline, although more and more dApps will only accept the new $ASTRL token. In your wallet, you can distinguish the old $astrl token from the new $ASTRL token by the token symbol (lowercase vs. uppercase), and the new $ASTRL name is Astrolescent (Babylon). Once sufficient ASTRL has been migrated, we’ll update the token name again. We worked together with Ociswap to make this transition as painless as possible. Ociswap offers a simple migration tool for all your old tokens, not just $astrl. To migrate, go to Ociswap.com and connect the account that contains your old $astrl tokens. A pop-up will appear to guide you through the process. Alternatively, you can go to Astrolescent.com and select the old and new tokens. We’ll route your swap through the same migration contracts. That’s it! Astrolescent v2 is ready to provide you with the best trading experience. Join us today!

• Astrolescent: Back To Our Core

  Astrolescent - June 29, 2023

  solvency of our banking partner Prime Trust. Although all contracts were signed, we reached compliance with almost all regulatory requirements, the needed SOPs (Standard Operating Procedures) were written, and the development was well underway; without the required banking partner, a collateralized stablecoin can not exist. After the news concerning Prime Trust broke on June 22, we have been looking at alternative solutions. Since Prime Trust uniquely targeted stablecoin issuers, we knew this was not easy. We learned that, at this moment, no alternative banking partner exists that can deliver the same full-service approach we need to launch a collateralized stablecoin as a relatively small operation as we are. This means that we explored all available options, and we, unfortunately, have to decide it is no longer possible to launch the envisioned collateralized stablecoin. What is next for Astrolescent We have decided to double down on our initial proposition: The decentralized exchange aggregator. The dex agg was already an essential part of our future vision for our presence on Radix, and leaving the regulatory restrictions of running a stablecoin behind, actually opens up many opportunities. First, we will move all our operations from the US to the Netherlands to move away from the increasing regulatory crackdown on crypto. Timan will take over as the lead of the Astrolescent project for the foreseeable future because Mike (Meronym) has had a very stressful last six months and needs to take a step back to recoup and destress. Secondly, we will move all our activities to a newly formed DAO, including a freshly created governance portal for community voting and a fully transparent treasury. In future governance votes, the community will be able to vote on the future evolution of Astrolescent, including how we will be spending the funds in our treasury. Thirdly, we propose to set up revenue sharing of the aggregator fees to the holders of the $ASTRL token. The exact implementation is not yet final and will be one of the first votes of the new DAO Governance portal. We hate that our remarkable journey in launching the first stablecoin on Radix has ended abruptly. At the same time, we see a bright future ahead for Astrolescent, not only with our aggregator but also with the other features we are offering already from the Astrolescent platform: A unique Radix portfolio manager CoinMarketCap-like token pages with real-time token economics A vast array of pricing and trading APIs for our selected partners Shedding the restrictions of regulatory oversight will position Astrolescent in a unique spot where we can explore, together with our community, what will be possible on Radix. We are proud to say that Astrolescent still #runsonradix

• Astrolescent | Emote Care Partnership

  Astrolescent - March 15, 2023

  alth platform. We will be providing Emote Care with the integration support and software required to on and off ramp fiat directly to their platform by using our stablecoin USDA. Emote Care will be using USDA to settle many of their therapist / patient services. Additionally, we will be providing altcoin conversion so that any token can be converted to USDA and used to pay for services on Emote. By providing Emote with a Buy / Sell / Convert widget, any KYCed user can on or off ramp fiat seemlessly. Additionally, any user without KYC can still pay for services with any supported token on Radix. Emote Care utilises the unique feature set of Radix and makes mental health services globally available to a user group that did not have access to these services before. We are excited to start working with Emote Care as we believe their platform may be very successful on Radix. Babylon is starting to get close, and things are really starting to ramp up here at Astrolescent. Stay tuned for future updates!

• Astrolescent Launching USDA, A Fully Collateralized Stablecoin on Radix

  Astrolescent - March 8, 2023

  s well as a fiat on/off ramp. Many people believe that this is a critical piece of the infrastructure for DeFi, therefore we will bring a fully regulated and compliant service to the users on Radix. The stablecoin will be named US Dollar by Astrolescent ($USDA) which has a familiar naming convention. The USDA token will always be backed at a minimum of 1:1 and we will have proof of reserves on a consistent basis. To mint USDA, a user must pass KYC as well as connect a bank account to deposit from. Once the fiat has settled, we will issue a mint to the users Web 3.0 address which we get when the user connects a Radix, Z3us, or Xidar wallet. This wallet will also receive a soulbound AKYCV token which stands for Astrolescent KYC Verified. For follow on transactions with minting and burning USDA, a user with AKYCV can skip the KYC process. To burn USDA, a user also must pass KYC and connect a receiving bank account. The user sends the USDA tokens to an Astrolescent burn address, we initiate a fiat transfer to their bank account, and we burn the tokens once the fiat transfer has completed. The fees for using the ramp will be a volume based fee with a discount which scales linearly based on the amount of ASTRL the user has at their Web 3.0 address they connect. Based on our partnerships and licenses, we will be able to operate in 48 US states, UK, GER, NL, FR, AUS as well as many other countries in the EU. NY and WA are currently unavailable to our services, but we will be procuring a BitLicense in the future so that we will be able to operate legally in NY. The jurisidictions that we do not support for minting and burning of USDA can still trade or hold the token and still use our decentralized exchange aggregator. We will be setting up pools with our Defiplaza partners to bootstrap the initial liquidity so users can on-ramp to XRD or any other token on Radix directly if they choose. Additionally, we will be offering ASTRL to users that mint USDA as an incentive for helping provide the initial liquidity. We are currently in the process of designing a Betanet V2 / RCnet prototype where users can come in a mint some test tokens on network. The workflow will be similar to the production workflow, but the KYC process will be skipped. Users can connect a sandbox bank account and see the workflow there as well. When the prototype is finished, we will begin productionizing the code and getting smart contract audits as well as instance pen-testing prior to the go-live. The USDA stablecoin has been in planning and development for nearly 9 months. We only chose a banking partner who either had or was already in the process of procuring either a BitLicense or Trust Charter in NY. Our partner is very close to finalizing the procurement of their Trust Charter in NY. Why does this matter? To receive this license there are very stringent laws and regulations. All of it revolves around consumer protection and prevention of the issues that recently plagued some of the larger companies in Crypto. Look at the major players that went out of business: Celsius, Voyager, Silvergate, FTX, Luna, BlockFi, etc. All of them had to restrict usage from NY because they never wouldve been accepted for the licensing there. The license is doing exactly what it should be: protecting users from massive implosions like the ones weve seen over the past year. We will be disclosing our banking partner once all of the contracts have been finalized. At Astrolescent, our entire focus is ensuring that $USDA is safe, reliable, and legal for consumers to use. As always, there are many great projects building on Radix and we are happy to be one of them. We are looking forward to Babylon and very excited for the launch!

• Astrolescent | Defiplaza Partnership

  Astrolescent - February 23, 2023

  efiplaza. As many of you know, Timan is a member of both teams and works diligently on the technical side of developing the products we release. We will be collaborating on a few future products, and making sure that we do not overlap in our product offerings. This should help accelerate our timeline as well as Defiplazas to offer improved services to our users. Our goal is to integrate solutions up to the smart contract level. This allows accelerated innovation and ideas to flow freely between our organizations. We will also work together on joint marketing and community efforts, as we seek to expand our reach. We will also have joint marketing and community efforts, as both organizations continue to grow. We believe that this partnership will create significant synergies and value for both our teams and the Radix community as a whole! This will allow Astrolescent to focus on what we do best, and Defiplaza to focus on what they do best. Stay tuned for more updates, it’s certainly an exciting time for the Radix ecosystem!

• Astrolescent Year End Review

  Astrolescent - December 31, 2022

  s officially launching smart contracts on the live network. So much has happened this year for Astrolescent! Let us take a look at our releases this year: Prototype Launch (August 2022) Website Redesign (September 2022) Provide Volume Airdrops (September 2022) Start the Astrolescent Validator Node (September 2022) Provide Staking Airdrops (October 2022) Integrate Ocihop Algorithm (October/November 2022) Integrate CaviarswapV2 (October/November 2022) Launch Concentrated Liquidity Pools (November/December 2022) Apply for a Radix Grant for One of Our Future Products (December 2022) And up and coming on our roadmap! Integrate Defiplaza Liquidity Pools (January 2023) Interface Upgrade on Dex Agg (January 2023) We’ve come a long way this year in only a little over 6 months, and we are very excited about our future products as well. Now let us take a look at some key performance indicators: Total Volume: $4.26m Total Trades: 36825 Top Routes: CaviarswapV2 Ociswap CaviarswapV1 We’ve already done over $50k in volume on our private pool as well which is impressive given it’s only been live a few weeks! We have applied for the Radix Grant for our next product release, and we are looking forward to working with the Radix team to build the next awesome app!

• Astrolescent Latest Release

  Astrolescent - December 9, 2022

  have been watching very closely to see all trades are being handled correctly. We are pleased to say based on what we’ve seen we feel confident in our release, but we will continue to monitor the pool closely. We are very proud to be the first project to go live with a concentrated liquidity pool pre-smart contracts! The pool functions like any other concentrated liquidity pool with a few small differences. The main difference is that it is completely private and only the Astrolescent team can fund the pool. This is due to regulations in our countries and this is not something we can do without the proper licensing in certain jurisdictions. The current fee structure is 0.4% base, but reduceable down to 0.2% if the user has up to 20k ASTRL. Our users will find our private pool extremely competitive with Ociswap and CaviarswapV2 given its concentrated nature and low base fee. The pool supports all large marketcap tokens: XRD, ASTRL, OCI, CAVIAR, FLOOP and DFP2. For the past four weeks, Timan and I have been working diligently on our latest release. We have been testing it thoroughly trying to find any edge cases and boundary conditions that may cause issues. There may still be small issues with the pool, if you see an issue, please let us know. That being said, we have another announcement to make! We are modifying the tokenomics in a positive way to support our early adopters. Since we have a very long runway given we drop ~200k ASTRL per month, we are going to burn 64m tokens to bring the total fully diluted amount to 36m. The final amounts will be: 7m Team, 2m Marketing/BD, 27m Airdrops/Community Incentives We will be moving on to another medium sized upgrade to our dex aggregator slated to be released near the beginning of January. Stay tuned!

• Astrolescent Development Updates for Q3 2022

  Astrolescent - October 3, 2022

  milestone for Radix and the development is just getting started. Unfortunately, Radix has added another testing round prior to Babylon pushing live smart contracts out to Q2 2023. This doesn’t effect us much other than we will have to wait a little longer to release our second financial product. On the other hand, it gives us more time to verify our design and polish the product. For the past few months I have been planning on how to navigate all of the regulatory hurdles the second product brings. I feel confident in saying that we have a robust and compliant solution which is being designed in a unique way. We have a prototype smart contract and are currently working on integrating it into our website. Currently, this is my primary concern and where most of my development time is going. As we have a ton of regulations we have to handle, there are a few changes at Astrolescent being made. We have chosen to bring in a local US advisor who has 20+ years of experience within the traditional finance sector as well as federal and state legislatures. As we do not have the funds or runway to support two advisors at this time, unfortunately Peachy will be stepping down from this role for now. Peachy has helped tremendously in laying the ground work for the design, however after reading through the regulatory documents; we need an industry professional with years of experience in regulatory compliance. We will certainly be keeping in touch and if there arises an opportunity for us to work together in the future, it will certainly happen. Timan has been working very hard on the dex aggregator code and we are in the process of migrating the infrastructure to one which is more compliant with our second financial product implementation. We have two medium sized user experience upgrades slated for when the migration is done. Neither are currently being implemented on Radix. Stay tuned!

• Astrolescent Background and Team Updates

  Astrolescent - August 26, 2022

  ember and brings a wealth of knowledge, connections, and long term strategy as an advisor for Astrolescent. Timan Rebel has 20 years of full stack development for web 2.0 technology startup companies. Welcome aboard the team! A website re-design is in the works and hopefully we can launch something by early next week. We are trying to have a simple but sleek UI so traders can come in and quickly make the optimal trades they are looking for. Astrolescent began as an idea 8 weeks ago, however the Dex Aggregator algorithm was not the original idea. I saw all of the liquidity split across many liquidity pools and wanted to create a tool to unlock it all in one place. I could’ve kept the tool private and wrote an automated bot to utilize the algorithm to arbitrage pools. However, I believe in giving back to the Radix Community and sharing the algorithm, so I created a web application that everyone could use to get the best prices on Radix. I tokenized the platform so everyone could share in the fees it generates as well as voting on proposals. Additionally, by having a tool that connects every liquidity pool everyone could just go to one place to get any token they want as long as there is a liquidity pool for it. I am not a developer by education, so I had to learn html, css, and javascript from scratch. From the initial idea to minimum viable product was about 8 weeks and the algorithm itself took me about 40 hours to write through a few iterations. Everything on the website is completely hand written and I wrote nearly every line myself. No components, no frameworks, just html, css, and js files. The Dex Aggregator algorithm was a way to make a big splash in the community and unveil our project. We will use it to build out additional financial products within the Radix ecosystem and it will be refined when Babylon launches. Timan is cleaning up the code base and making it more production ready, and I am moving over to Scrypto to create the smart contracts we will need when Babylon launches. We will continue to create innovative web 3.0 financial products on the Radix ecosystem and give back to the Radix Community.