Expanse to Present Plan June 1

As you may remember, on  August 31, 2018, the Expanse team airdropped a new token, PEX,  to the Expanse and Tokenlab communities. Airdrops are a straightforward way to bootstrap a user base for a new product, in this case, the Expanse Decentralized Exchange, EXPEX.

The airdrop piloted the Tokenlab Airdrop module, one of the applications that comprise the Tokenlab self-service suite of products designed for token creation and management. It went off without a hitch. (If you have not found your PEX, email [email protected].)

Expanse secured the services of an external development team to create EXPEX. Our development  team under Asim (@asimashfaq) tweaked it, then readied it for beta-testing. Community volunteers conducted the testing, leaving comments like, “Very intuitive and easy to use,” and “Awesome.”

As with anything newish introduced in the cryptosphere, governing regulations and guidance are not far behind. We know a lot more now than we knew in August about DEXs, and new insights have guided where we now plan to take EXPEX. The FinCEN guidance just released is favorable. You can read it here: https://www.systems.cs.cornell.edu/docs/fincen-cvc-guidance-final.pdf

Taking this updated information into account, here are some highlights about where we are headed:

  • EXPEX will be developed directly within the Luna wallet.
  • Users pay $0 (zero) trade fees. (Gas fees are paid by the user and the network implicitly.)
  • Projects will pay a reasonable annual listing fee — somewhere in the $1000 USD range. The exact amount is yet to be determined.
  • Tokens minted using Tokenlab receive EXPEX listing priority. The cost is 1000 LAB to mint the token and one EXP for gas.
  • Projects interested in listing on EXPEX can apply here

Next Steps
We will make a more formal announcement, including a timeline and other concrete information, on June 1. We plan to have an operating committee in place comprised of community volunteers, specifically EXPEX beta-testers who want to participate. Hang on to your PEX! EXPEX will be here before you know it.