SuperNET Tuesday Update 21/02/2017
Although the Komodo Platform has been launched, there are still some features and aspects of the platform that are yet to be developed. However, the team continues to make steady progress bringing the first ever cryptocurrency to employ DPoW, assetchains, and much more, to completion. This week on the SuperNet Tuesday update, we’re going to talk about the Komodo market, Liquidity Provider nodes and Iguana wallet updates.
Komodo Market
Daily trading volume on the Komodo market continues steadily above $50,000, an impressive feat for a newly launched cryptocurrency. Although the price has managed to stay above the 0.0001 mark for the majority of the past week, the KMD coin is currently sitting at 0.000095 after an 11% drop in the BTC market. Could this be the bottom? Time will tell.
Market Makers aka Liquidity Provider (LP) nodes
In order to build the first fully decentralized and anonymous cryptocurrency exchange that doesn’t rely on proxy tokens, EasyDEX, the Komodo Platform must rely on market makers, also known as liquidity providers. These assure that an exchange can take place without the user having to wait long periods of time for orders to be taken, which is usually the case with less-known coins or assets.
In Iguana, the liquidity will be provided in a decentralized manner, meaning that anyone can become a Liquidity Provider (LP) node at his own risk. The LP nodes ensure that the decentralized exchange provides market liquidity for cryptocurrency daily trading. It works as this (next page):
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