GammaX Exchange is a decentralized orderbook-based derivatives exchange. We combine the speed, performance, and liquidity advantages of a centralized exchange with the governance, self-custody, and security of the blockchain.
GammaX solves the security and custody issues centralized exchanges face through audited smart contracts on StarkWare, while providing a fast and streamlined user-experience through our optimized off-chain order book, matching engine and intuitive UI. GammaX also designs our tokenomics and rewards mechanisms from the ground up, creating a trading reward system that incentivizes real trading and retention while discouraging wash trading and pumping/dumping the value of our token.
To understand Layer 2, you need to understand Ethereum Layer 1consists of: a network of block producers, a consensus mechanism for the network, the blockchain and its transaction history, and a network of node operators to secure and validate the network.
Ethereum has reached the network’s capacity with 1M+ transactions per day. When demand for the network is high, transaction prices rise to high levels. The goal of Layer 2 is to increase transaction speed and decrease transaction costs.
Layer 2 uses rollups to reduce gas fees by over 100x. Rollups bundle hundreds of transactions into a single transaction on Layer 1. This distributes the Layer 1 transaction fees across everyone in the transaction so it’s cheaper for each user.
Rollup transactions are executed on Layer 2 but the data is posted to Layer 1. By posting transaction data onto Layer 1, rollups inherit the security of Ethereum. There are two different approaches to rollups: (1) Optimistic and (2) Zero-Knowledge.
Zero Knowledge Rollups (ZK Rollups) constitute a Layer 2 scaling solution for the Ethereum Mainnet (Layer 1) that processes, or “rolls up”, thousands of Layer 1 transactions into a single batch off-chain. These ZK Rollups consist of Zero-Knowledge proofs that submit a verification proof, consisting of a bundle of thousands of Layer 1 transactions, to Layer 1 ETH Mainnet for validation without the Mainnet needing to do so.
By verifying the validity of thousands of transactions off-chain, ZK Rollups reduce the amount of data needed to be processed by the blockchain which, in return, increases the speed of Ethereum Mainnet, reduces gas fees, and allows for much easier scalability for dApps.
A validity proof provides evidence as to why a transaction is correct. Zero Knowledge proofs are a form of validity proof in which one party (the prover) attempts to present a “true” transaction to another party (the verifier) without giving any additional information besides that the transaction is indeed true. There are two kinds of ZK proofs: (1) ZK-SNARK and (2) ZK-STARK
We will be posting updates as they develop on our Twitter and Discord. In the meantime, please visit https://gammax.exchange/beta-testers/ to sign up as one of our beta testers.
We will be offering traders up to 20x leverage for certain Perpetual Futures contracts. That leverage ratio is not as high as some other exchanges in the market that may offer up to 100x, but the majority of traders trade with much smaller ratios than that. Also, by offering only 20x leverage we’ll be mitigating some of the risks traders incur by utilizing higher leverage ratios.
StarkWare develops STARK-based solutions for the blockchain industry. Utilizing the Ethereum mainnet as an established, public commitment layer, their software deploys a family of cryptographic proofs that are zero-knowledge, succinct, transparent, and post-quantum to support computational integrity for general computations off-chain. The verification of these computations is then performed on-chain to provide fast, safe, and scalable proofs to solve Layer 1 scalability issues.
The Starkware team is one of the strongest engineering teams in the blockchain L1/L2 space, as well as an early investor in GammaX. The technology, though relatively new, is much further along than any other ZK-Rollup on the market. In terms of scalability, ZK-Rollups work much better for exchange operations over Optimistic Rollups due to provably true transactions when they are posted, and layer 2’s scalability on Starkware enables any dApp to achieve much higher throughput at an increasingly cheaper cost per transaction compared to L1 while maintaining Ethereum’s composability and security. Starkware is able to handle up to $16 billion of daily volume without issue, comparable to the largest centralized exchanges. The smart contracts on Ethereum and Starkware for GammaX build on this foundation and are all finalized and audited.
Deployed on the Ethereum mainnet, StarkEx is a standalone ZK-Rollup SaaS designed to be a permissioned, tailor-made scalability engine for crypto exchanges to fit their specific needs. dApps can build upon StarkEx to support a range of services, including derivatives trading. Specifically, perpetual contracts trading requires rapid price feed updates amongst a variety of trading pairs that is impossible to scale on L1 in terms of speed and cost-effectiveness.
StarkEx currently supports ETH, ERC-20, and ERC-721 tokens enabling exchanges the ability to provide non-custodial, scalable trading with high liquidity and low costs. Each transaction is first validated off-chain, where proof for said validation is generated by the StarkEx Prover. The off-chain Prover processes large batches of transactions and generates a STARK proof. Once the STARK proof is finished it is checked by the on-chain Verifier in a few computational steps. Thus, enabling the processing of large computations, off-chain for efficient scaling, to have the computations integrity later validated on-chain with little computation.
GammaX Report Center is built to collect users’ suggestions on issues, bugs, and feature requests. Being a user-centric DEX, we would like to build and enhance our platform tailored to your needs.
Did you encounter an issue? Would you like to report a bug or request a specific feature? Let us know, and we will build the best DEX together! (Refer to the questions below to know how to Report a Bug and Request a Feature).
To report a bug, go to gammax.exchange or head to https://gammax.sleekplan.app. You will find the “Feedback” icon in the right bottom corner of the page.
To create a post, simply click on the Cross sign on the Widget, or click on Create Post if you are on the Landing page.
Before posting, we encourage you to check if the same issue or bug has already been reported. This will save us time from sorting similar issues, and our team can focus on fixing the reported bugs.
To submit a new bug, select the “Report Bug” from the Category menu or type in the issue you want to report in a Search field. The system will also propose similar topics when you start creating a post. Make sure to check them to avoid repetitions.
If the bug has not been previously reported, then follow these steps:
1. Create a short and clear title
Good title “Cannot close a position”
Bad title “Position problem”.
2. Write a clear, detailed description. Attaching images would be helpful.
Good description: “I was trying to close my BTCUSD Position, the system notification confirmed the closing of the Position, however the Position still remains active on the Positions tab.”
Bad description: “Position not closing”.
3. Select a relevant category
Please make sure to select the right category, we have a dedicated team for each category. Selecting the wrong category might result in a severe delay in resolving an issue or closing an issue.
If you encounter a similar issue that was previously reported, please upvote. We do care about all of the issues encountered by our users, however, we prioritize the most upvoted ones.
Please note that duplicate posts will be merged, or the latest similar post will be removed from the system. Posts with a bad title, and an incomplete description will be automatically closed or removed from the system. Ensure that the platform issues are reported as “Report Bug” and issues related to website and rewards should be reported as “Rewards and login issues.”
Before you submit a feature request, we encourage you to assess the implementation of the feature on our platform.
– Would the integration of this feature make the platform difficult to use;
– Would the integration of this feature create issues and bugs;
– Would the integration of this feature require additional training of users;
– Was this feature requested previously?
If the answer is “yes” to any of the above questions, then please refrain from posting this request as it might be declined by our team. If not, please follow the steps below. We are keen to hear your ideas: .
To request a feature, go to gammax.exchange or head to https://gammax.sleekplan.app, find the “Feedback” icon in the right bottom corner of the page.
To create a post, simply click on the Cross sign on the Widget, or click on Create Post if you are on the Landing page.
Before posting, we encourage you to check if the same issue or bug has already been reported. This will save us time from sorting similar issues, and our team can focus on fixing the reported bugs
Select the “Request feature” from the Category menu or type in the issue you want to report in a Search field. The system will also propose similar topics when you start creating a post. Make sure to check them to avoid repetitions.
If the feature has not been previously requested, then follow the steps below:
1. Create a short and clear title
Good title: “Please add dynamic PnL coloring”,
Bad title: “Make dashboard better”.
2. Write a clear, detailed description; attaching images of similar features from other platforms would be helpful.
Good description: “Please add a dynamic coloring of the PnL, i.e. if the PnL in the Positions tab is at a profit, then the value of the profit shall be green, if it is a losing trade, then the PnL value should be red.”
Bad description: “This dashboard is hard to use, change it.”
3. Select a relevant category
Please make sure to select the right category, we have a dedicated team for each category. Selecting the wrong category might result in a severe delay in developing the feature or closing this post permanently.
If you encounter a similar issue that was previously reported, please upvote. We do care about all of the issues encountered by our users; however, we prioritize the most upvoted ones.
Please note that duplicate posts will be merged, or the latest similar post will be removed from the system. Posts with an incomplete title and bad description will be automatically closed or removed from the system. Please note that the feature requests should be categorized as “Request features.”
You are automatically subscribed to all changes made in your post, and you will receive email notifications when any changes are made.
Please also check our Changelog and Roadmap to track the status of other feature requests and bug reports
The comment section of each post is open, and you may share your thoughts and ideas under each post. We highly encourage you to be respectful and avoid using any profanity and offensive language. We love our community and the harmony we are in, hence will take actions against violators, we don’t want to, so let’s be nice and respectful.
Remarkably, all posts you make on the GammaX Report Center are subject to our Rewards Program. Users who find critical bugs, submit essential features which will enhance our offerings and give our exchange a competitive edge and users whose posts receive the highest impact score based on our internal algorithms will receive Gamma Points.
Follow our blog and social media to get the latest news about the GammaX Report Center Rewards Campaign. Do not miss your chance to win rewards while helping us get better.
When I use my second account to log into the rewards platform, why do I get a ‘Can’t log in’ message?
You should try clearing your cookies or try to log in using an incognito browser window.
For our very first Testnet release, we are going to have two trading pairs: ETH-USDT and BTC-USDT. However, we are looking forward to adding more trading pairs – based on your feedback – which we will collect in the exchange feature survey.
We will be adding nine or ten languages, including Chinese, during Testnet. And we welcome the participation of people from many countries to help us test that. Korean, Indonesian, Chinese, Hindi, German, French, Spanish, Portuguese, and English are all on the roadmap for Testnet.
Privacy is not a problem as StarkEx only publishes balance changes on-chain. Since it does not record transaction details, there is no cause for concern when it comes to fears of trading activity being monitored, or trading strategies being copied.
The GammaX Exchange is designed so that trading is just as fast as on centralized exchanges, and features instantaneous balance updates, so there’s no need to wait for transaction mining. GammaX does this by matching trades off-chain and retaining them in batches until a batch’s proof of validity is entered on-chain, where it will permanently reside.
GammaX will have lower margin requirements, and therefore liquidation penalties will be low as well. If an account does have its total value drop lower than the required maintenance margin, GammaX’s liquidation engine may automatically close that account’s positions, and GammaX’s insurance fund will take on the profits or losses stemming from liquidations.
GammaX is pursuing multiple partnerships to ensure adequate liquidity. They include Ledger Prime and other partners, who supply liquidity to many top exchanges and are also GammaX investors.
Yes, GammaX plans to launch a token. Details will be announced later.
GammaX will be launching its testnet shortly and will be gradually adding traders from our waitlist on a first-come, first-served basis. Please join our beta tester list if you haven’t done so already.
Testnet is being launch in multiple phases, in order to get your invitation you must have signed up to our waitlist. The invitation to join Testnet will come from email@example.com.
Why Should You Join the GammaX Testnet?
As we build a high-performance decentralized perpetual derivatives exchange, we would like to hear your feedback. By being part of our testnet, you will gain early access to our product.
Additionally, it is your chance to earn pre-token rewards and US $500 in cash prizes.
1. You will be part of the early change of the future of DEX
2. You will be able to give your feedback and suggestions so we can improve and build a better exchange for you
3. Testnet testers will also be granted priority access to the GammaX Mainnet, which will be launching early in 2023.
4. If you follow the instructions, you will be able to get Gamma Points
5. When joining, and once you have placed at least one trade, you will be eligible to join our trading competition and win cash prizes.
What Do I Need to Do As Part Of the Testnet?
As you will gain early access to our product, your task is to understand the platform. Secondly, you need to test our exchange in real-time and look for bugs and issues. Thirdly, provide us feedback on the trading experience and potential improvements.
Testnet testers will also be granted priority access to the GammaX Mainnet to be launched in early 2023.
Your security is of prime importance to us. GammaX is built on StarkNet’s Layer 2 protocol. We use “StarkEx” smart contracts, which are fully secured, and every version of StarkEx is audited by an external auditor. You can find all the audit reports here: “StarkEx Audit Report” Furthermore, GammaX is non-custodial, meaning we don’t take custody of your funds, which instead remain in your secure wallet.
Yes. GammaX’s insurance fund is our safeguard that guarantees protection for traders who have negative balances, while also making sure that winning traders receive full payment – even if the other side of the trade doesn’t have the money to pay it. The insurance fund takes on the losses of traders who go bankrupt and saves them from being on the hook for money they don’t have.
GammaX will settle and margin Perpetual Contracts in USDT.
Users can deposit funds in USDT to their accounts, as well as make withdrawals, by connecting to their MetaMask wallets and specifying the amount.
Exchanges are composed of makers and takers where each party can either be a buyer or a seller. Maker orders are created when an order doesn’t trade immediately, thus adding their decision to buy/sell to the order book. Essentially, the maker provides liquidity to the order book and “makes” the market. For example, person A places an order to buy 4 BTC at $40,000. This order sits in the exchange’s order book until Bitcoin reaches said price or another trader decides to sell BTC at that price. When you look at the order book or a market depth tool, you will see only pending orders placed by makers. Maker fees are generally lower than taker fees to encourage frequent maker orders and boost liquidity.
While makers provide liquidity to the order book, taker orders, on the other hand, remove (or take) part of the total liquidity from exchanges immediately once their order is placed. The taker is placing a buy/sell order that matches an existing order already on the order book. To illustrate, if person B creates a market order to sell 3 BTC at its current market price, the trade executes immediately. Taker orders are never displayed on an order book or market depth tools.
On-chain transactions occur on a blockchain that are then posted to a distributed, public ledger. For example, all Ethereum on-chain transactions (pending or confirmed) can be viewed on Etherscan. These transactions are only confirmed to be valid once a number of said network’s nodes verify that the transaction is indeed valid and a consensus is reached. After the consensus is reached and validity is confirmed, the transaction is posted on the blockchain in real-time with the goal of being instant, secure, and transparent.
However, if a network is overloaded, it can take longer for the nodes to verify transactions, thus leading to higher transaction fees and slowing of the transaction speed. To combat this issue, third parties (like StarkWare) will verify transactions away from the blockchain — hence the off-chain — using private keys between themselves and the network to ensure validity and security. In short, transaction verifications are performed outside the main blockchain by a third-party, and the result is uploaded back into the blockchain. This way, network users do not worry about high transaction fees and transaction processing time.
GammaX will indeed do both.
Collateral will be held as USDT, and all perpetual markets will have the quote asset as USDT as well. Trading can be done on multiple perpetual contracts with one margin account. This enables significant boosts in capital efficiency when trading multiple pairs. In every market, there are a couple of risk parameters–initial margin fraction and maintenance market fraction–and these set the maximum leverage obtainable for that particular market. These parameters are also used to determine how much money an account needs to have to be able to open or increase positions (i.e., initial margin) or keep from being liquidated (i.e., maintenance margin).
Gamma points are pre-token rewards. You can collect points by completing tasks on the GammaX rewards platform. You can see your Gamma points by logging into your account and viewing your dashboard.
In order to join the rewards program you must create an account on our website. Go to Gammax.exchange, click on sign up on the top right and fill in your details in the form. After you click on Register, your account will be created. Next, log into your account and start earning points.
Points are allocated for different tasks on the GammaX Rewards platform. You will earn points for tasks like creating a new account, participating in the Learn To Earn program, integrating with our social channels, inviting friends and family to GammaX and more. We will keep updating exciting tasks on our Rewards platform to incentivize you for your engagement. There is no limit to the points you can earn.
Most reward points are credited to your account within a few hours. Points for trades on the exchange are credited once a day at midnight UTC. If you don’t receive your rewards in 48 hours, please contact Customer Support.
GammaX’s Learn to Earn program aims at educating the next generation of traders and helping existing traders make well-informed trading decisions. Our focus with the Learn to Earn series is to educate users through jargon-free, easy-to-understand modules explaining a range of topics from trading basics to mastering strategies. Users can watch our video lessons, participate in the quizzes towards the end and earn Gamma points.
On the Gammax.Exchange website, click on SignUp on the top right, enter your details, MetaMask wallet id and create an account.
Log into your newly created account and you will see the available courses as part of our Learn to Earn program. All you need to do is watch the video lessons and answer the questions. You will earn points for each course after completing the quizzes.