A Chat with RiveX about WRDEX, the First Wanchain Cross-chain DEX
We sit down with RiveX cofounder Mark Tan and cofounder & CEO Alex Ng to discuss RiveX’s work on WRDEX, the first Wanchain Cross-chain DEX
RiveX is a Wanchain ecosystem project which was founded by previous Wanchain Asia business development director Mark Tan along with RiveX CEO and co-founder Alex Ng. Mark is a finance and blockchain professional with almost a decade of experience working in finance and blockchain. Alex has a strong technical background with a degree in Electronics and Communications Engineering and over half a decade’s worth of experience working at Dell.
RiveX is focused on building second layer solutions for Wanchain, and is currently building a decentralized exchange called WRDEX (Currently on testnet) on Wanchain using Wandex, Wanchain’s cross-chain DEX SDK. On April 3rd, 2020, we sat down with Mark and Alex for a chat about WRDEX.
What is Wandex and how is RiveX using it?
Mark Tan — “Wandex is an initiative launched by Wanchain to promote interoperability and the use of cross-chain technologies between different blockchains. Wandex is solely responsible for the technical aspect of things while there can be many operators operating the DEX under their own brand. Think of Wandex as an airport while there can be many airlines operating in the said airport. There are other protocols that are similar to how Wandex works, for example, Loopring, Hydro Protocol etc. RiveX is one of the operator under the brand name, WRDEX. RiveX is utilizing Wandex’s blockchain assets cross-chain capabilities as a core.”
Charting and orderbooks are two functions provided by WanDex
What are the differences between core Wandex and WRDEX?
Mark Tan — “Wandex is solely a tech provider, providing the cross-chain technologies to all the operators under Wandex. On the other hand, WRDEX is utilizing the cross-chain technologies provided by Wandex and has its own innovative strategies by exclusively listing projects within RiveX’s ecosystem, structured and derivatives tokens trading which will commence in Q2 2020, a UI which will be different from Wandex (launching in Q2 2020) and further WRDEX features enhancement which will be progressively happening from Q2 2020 onwards.”
What makes WRDEX unique?
Alex Ng— “WRDEX is different from other DEX as it has cross-chain capabilities, structured and derivatives trading and trading experience which operates as a centralized exchange instead of a P2P-style. The cross-chain functionality is particularly unique since it allows for a decentralized settlement of each WRC20 asset back to its native chain without having to go through a trusted third party as one might have to with ERC20 WBTC or other current implementations of ERC20 cross-chain wrapped tokens.”
Can you tell us a bit about the WRDEX team?
Alex Ng— “The WRDEX team consists of people from a diverse background who has working experience in quantitative and algorithm trading, centralized cryptocurrency exchanges, investment banking, and blockchain development. The team has a good mix of talents to ensure the longevity and smooth operations for WRDEX.”
How does WRDEX fit into RiveX’s big picture plan?
Mark Tan — “RiveX itself is embarking on two major pillars which are decentralized finance (DeFi) and enterprise solutions. RiveX Wallet aims to be a dApp superhouse where it houses dApps within RiveX’s ecosystem and dApps from other ecosystems as well. The team major focus now is DeFi. WRDEX is the first DeFi decentralized application introduced within RiveX’s ecosystem. WRDEX is also being built and integrated into RiveX Wallet.”
When will WRDEX be live?
Alex Ng— “WRDEX will go live and be on main-net in April 2020. The RiveX team will only be doing a soft-launch for now as requested by the RiveX’s investors and community. An official launch will take place after RVX is listed.”
What trading pairs will there be?
Alex Ng— “The current trading pairs will be WBTC/WUSDT, WETH/WUSDT, WEOS/WUSDT, and WWAN/WUSDT. There will be more pairs being listed in the near future. The structured and derivatives trading products will be available only after RVX is listed.”
Cross-chain trading on WRDEX
Has Coronavirus affected development?
Alex Ng— “We will be lying if we say that the virus has not affected us. It did not affect us much but it did cause a little slowdown in our organization’s sentiment. However, things are still progressing as per our investors and community expectation. We cannot wait to push WRDEX live and celebrate this joyful moment as the first DEX operator for Wandex. This is indeed a celebration for Wanchain’s ecosystem!”
RiveX is a scalable layer-2 on-chain and off-chain solution on Wanchain protocol and private chains. Combining the strength and virtues of both public chains and private chains to empower a scalable enterprise economy and decentralized finance. RiveX has its very own APIs & SDKs to allow developers to build on RiveX and also allows the ease of integration for any enterprises and applications to be integrated into RiveX’s infrastructure.
More about RiveX
Wanchain is the infrastructure connecting the decentralized financial world. Wanchain’s live cross-blockchain solution is EVM-based, includes optional private transactions, and provides a decentralized, permissionless, and secure approach for interoperability. Wanchain has employees globally with teams in Beijing (China), Austin (USA), Kuala Lumpur (Malaysia), and Madrid (Spain).