CYBEX Progress Report 5

CYBEX Exchange/Web Wallet

CYBEX-Redux Project Erection

As it is known to all, the CYEBX web wallet is expanded from Bitshares and adapted to the needs for CYBEX project transformation. The maintenance work for CYBEX wallet and its exchange applications is extremely complex, the original Bitshares client adopts Altjs, a Flux mode state management library, to manage the maintenance of application state. However, viewing the usage of Altjs library by Bitshares, the business logic and application logic codes are not clear enough, and the iteration of the Altjs library and its associated libraries as well as the development tools has been in stagnation for quite along time. Though the expansion of existing web wallets still works normally under such condition, the future development of web wallet, client side and multi-terminal client may be hindered. Therefore, the team will develop the CYBEX-Reduxa project in parallel with the development of major CYBEX functions. This project is developed based on the popular Redux state management architecture, using Rxjs-based Redux-Observable components for asynchronization and Action(containing side effects) implementations, and Jest for logic testing. This project is intended to support the development of future native mobile applications which is based on ReactNative or NativeScript, while making it convenient for community developers to participate in CYBEX development in the future. After being improved, it may also replace the existing state solution of the web client.

Preliminary Implementation of CYBEX CrowdSale Mechanism

Crowdsale mechanism is one of the key tasks for CYBEX to adjust its commercial adaption.CYBEX enables a virtual asset issuer to launch crowdsale in the trading market for the related project with cost far below that of existing traditional crowdfunding mechanism. Through the redesign of the crowdsale assets and the implementation of automatic Cap redemption, investors can not only investor in their favored projects, but also redeem the crowdsale assets under the corresponding redeemable conditions, which will also ensure that investors have some control over the value of the crowdsale assets value. To implement this mechanism, CYBEX has transformed the logic on chain, designed the objects of crowdsale projects and contracts, and re-planned operations such as the issuance, participation and redemption of crowdsale, providing the database interfaces to search and conduct new objects and operations. This week, the basic prototype required for the crowdsale mechanism was implemented and the verification of the scripting of basic logic was finalized. Besides, the verification of the front-end operations was also started.

The CYBEX whitepaper is being refined, adding the content of atomic swap, DAC architecture, Bitcoin-pegged currency, and the crowdsale standard, and will be published in English, Japanese, and Chinese as scheduled. The Beta version of the whitepaper is estimated to come out this week.

CYBEX team will disclose timely the progress during the development, and we are looking forward to your feedback.

Dec. 3rd, 2017

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