XSteem proposal

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(Edited)

Proposal from eSteem team to develop and deliver open source, fully-fledged exchange software.

XSteem Proposal post image cover

Synopsis

XSteem is opensource exchange built on top of Steem. Goal of this proposal is to allow eSteem team to build decentralized opensource exchange application (web and mobile app). Right now, we have internal exchange with built-in api and soon there will be SMTs, api and functionality of these will be limited and cannot compete with traditional experience traders have. Our goal is to build infrastructure for open exchange apps. We have had eSteemX project which we started working on last year but due to shortage on resources, we had to stop project and focus on eSteem. But with help of Steem.dao we can pick up and continue to work on project with new brand and community vision.

Timeframe

Initial timeframe we are choosing 6 month so that we can show progress bi-weekly and estimate delivery of both user facing Website and Mobile app. As well as backend API to improve/extend functionality to allow us to query traditional exchange like requests, candlestick charts, transaction free trades and wallet/token management.

Deliverables

Funds will be spent for development expenses, servers, designing product/UX. Below some items and allocation of funds for them.

  • Opensource backend api service (possibly, hive plugin like we did with search engine) (30% of funds)
  • Website with keychain and steemconnect support (20% of funds)
  • Mobile app with steemconnect support (35% of funds)
  • Design materials, UX elements, etc. (10% of funds)
  • Server setups and requirements, cost (5% of funds)
  • Source code will be available https://github.com/esteemapp
  • We will publish bi-weekly updates

Budget

10k SBD monthly (333 SBD daily) for initial 6 months, starting from 1st November.

Afterwards, project will be re-evaluated and new proposal may be submitted depending on community feedback.

Approve Proposal #44

Approve
Unapprove

Also see:

https://steemitwallet.com/proposals
https://steemproposals.com/proposals/good-karma
https://steempeak.com/proposals

Thank you for your support! Let's build the future together!

EDIT:

steemdao steem exchange esteem development
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102 comments
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I am always using esteemapp I love esteemapp I am very impressed good-karma sir my good bless for esteemapp team

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You have the skills to do this. I wish you luck with it.

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(Edited)

Not sure if this is a priority. Who are we cattering to ? Daily users ? Traders ?

Will a shiny new trading tool bring in more users ?

I am sure none of my non-crypto friends will be excited to hear about this.

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Think of it ways to trade your earnings, we hope to build foundation for future SMT tokens

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I am sure that Steemit Inc will gave as a proper exchange at the time of the release of the Smart Media Tokens (SMTs). I upvoted this blog post with 100% (currently worth $0.009) as a minnow to support you, because you are a developer, the creator of eSteem (one of my favorite Steem blockchain interfaces/projects) and a Steem witness (it is a good thing that many other people are also upvoting you), but I am not sure whether I will approve this proposal or not. I agree with @waleedtee, and I think that the Steem blockchain developers should focus on other, more important things. Not necessarily on bringing in more users, but to bring back the old users, who left the blockchain. To improve the currently (very) bad user retention of the Steem blockchain. An open source exchange software will not do (neither of) that.

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(Edited)

Bringing back the old users is bringing in more new users. User Retention is matter of proper balanced incentive. We will have SMTs in few month and without exchange or management of SMT tokens and bootstrapping community tokens, excitement SMT brings will be short lived. So we hope to elevate or help with creating thriving tokenization with exchange and management tools both for web and mobile users. Of course, it is your choice to approve or not, your vote matters regardless!

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Do I vote if I use a proxy? Or does my proxy vote count for me?

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Can I set a 'proxy' to vote on proposals on my behalf?

Yes you can and it is the SAME proxy that is used for witness voting. There is no way to separate them.

Can I still vote if I have a proxy?

Yes but your vote will not count if you have a proxy. You will add a vote but nothing to the value. You must remove proxy for the vote to have value.

See FAQ section on: https://steempeak.com/proposals

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Super cool.... always good to see innovation like that

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great, what kinds of trading pairs will you support in DEX?

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Until SMT is out we will build foundation and have STEEM and SBD to trade and if we will have SMT testnet, we can even try testing other pairs

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(Edited)

Id like to hear some feedback from other devs regarding this before deciding to vote.
Decentralized exchanges are notorious for their poor volume. Weve seen others attempt to bring exchanges with STEEM main pairs to the community with little success. Why would this be different?

What benefit would this provide to STEEM to justify giving your team almost 1/2 of the total SPS daily funds?

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It is not about building one DEX but building infrastructure to allow anyone to build one based on source code. When SMT is out, there won’t be direct listing of new tokens on centralized exchanges so users/traders will have a choice

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Im pretty sure Steemit.inc said that they will be releasing a SMT market.
Maybe not at first but down the line definitely.

The question i always ask myself when considering supporting a project is:
"Is there a purpose to it? Will it provide value beyond what we have now?"

If steemit.inc creates a smt market there is no purpose to this.

Is there something we dont have that we could use and would add great value?
A Steem (Brave type) browser comes to mind.
Things like that...
Right now i dont see your request justifying the SBD you would need.

Posted using Partiko Android

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You can of course ask Steemit Inc. and know for sure instead of if. Brave type browser, seem like Surfer, no? Anyway, thanks for feedback and your opinion!

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I think Brave is very different than eSteem Surfer... Brave works like any browser but with "normal" ads disabled. The ads shown are supported by the browser and give the users special token when viewed.

A STEEM Brave-like browser will offer that functionality but with STEEM as a token.

At least in theory... What do you think?

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Brave uses tipping economy and steem slightly different than that. But in theory it might work...

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nice to see things in its right way, carefully and steadily, we trust in you. good luck.👍

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Approved! You and the rest of the eSteem team are top notch! Always improving and one of the most trusted Witness / Development teams in the entire blockchain space. I don't just say that lightly! You guys are the real deal!

I really hope you are able to get this funded!

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10k monthly is a lot. What will happen to the profits from running the exchange (fees)? For that amount of funding I would expect them to be burned

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There won’t be fees that’s the point of proposal, it won’t be for profit. With source code is open anyone can replicate or start their own version of exchange. For profit entities could start their own version with added benefits if necessary.

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Ok. I like the open source part, but it doesn't sound like you have any business model behind it, so all funding would have to come from the SPS, forever?

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It is for 6 months to deliver foundation of the project. If there is business model behind it then project shouldn't be funded via SPS. In my opinion, SPS is not built for funding for profit businesses. For profit businesses/projects should be funded from their profits. If there is business model or fees, why would you support it?

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But if there is no business model, you either need to fund running costs for servers, support, maintenance/development and possibly security audits and legal stuff from the SPS forever, or you don't run the exchange at all, in which case either the code is abandoned after 6 months or another party runs an exchange, and they would need to fund their costs as well, probably with the aim of being profitable.
Does developing a DEX require changes to the Blockchain itself that you will do and if yes how is that aligned with Steemit Inc's plan for an SMT dex (if there are such plans)?

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(Edited)

This proposal is for developing toolset and opensource software. So potentially anyone could host and run on their server and start instance of it. Proposal is for developing not for sustaining, that's why we mentioned that after 6 month we will re-evaluate further development of the project. If community wants fee based model or some other type of model, it will be evaluated in due course of time. I am not aware of anyone working on SMT dex. Steemit Inc might have plans but I am quite confident they will be focusing on communities feature and front-end. Even if they get done communities UI in very short time, they might still choose to work on other things or their mobile app, etc. because steemit is social app (property of Steemit Inc.) not an exchange (dex).

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If Steemit Inc is not working on an SMT dex, this proposal is certainly worth being funded through the SPS, but you should check with them first

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(Edited)

Every stake holder can/should find out for themselves, if it takes less time and funds for Steemit to build it, what feature sets will be part of it. Because ultimately it is their vote, I did ask Steemit, so we will see.

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Proposal from eSteem team to develop and deliver open source, fully-fledged exchange software.

What about steem-engine?

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Unfortunately, I don't know their plans...

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I was about to comment doubting if this was an apporpiate amount of allocations. Then I noticed the author and recognized the experience. Still though, the mobile apps seems to take more time and resources than calculated.

Mobile app with steemconnect support (35% of funds)

Is there a way that private investors could fund this idea?
I think an Exchange built around the Steem network would be very useful. It would be a "thermostat instead of thermometer" move.

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(Edited)

Mobile app development indeed takes most of our resources but every exchange should have mobile app without it, you are limiting exposure from billion of users with mobile phone. That's why we mentioned that we will re-evaluate after 6 months.

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I completely agree that the mobile app is a must.
I am really interested in this project and look forward to seeing the development.
Your commitment to the Steem blockchain is priceless.

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(Edited)

Why not join the forces with the Steem-Engine team and help them out instead? They have the users and just need better UI/UX. I think it would be better than creating something completely new.

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Steem-Engine relies on its own structure, it is 2nd layer. With XSteem we want to basically build more featured and traders focused version of https://steemit.com/market with flexibility to support SMTs.

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One proposal that we were all waiting for which have adhered the eSteem platform for quite some time. There starting to be quite many options for similar apps in the Steem space, but I must say that eSteem for me beats the other through the usability and advanced features it offers. And pretty much the layout is great to use, even if there are some other features that need to be added and which are already in the road map.

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Your work on eSteem (app + search) shows how you're able to develop well-functioning products that are also pleasant to use and look at, something not all apps on Steem have achieved so far. Also love that the fundings will be for open source work.

Thanks for creating this proposal, will approve it while keeping an eye on what others say for/against it :-)

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Good initiative. Much Love for @esteemapp team.
Can't approve. Showing links broken

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Have you tried Steemconnect? You can try steempeak or soon with Surfer we will have SPS in upcoming release

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If anything, I would think, I'd like to see how your app or Surfer will be able to also take a direct BTC or ETH in to wallet. Which would allow me to spend fast this coins here too or hold. I don't see any app here doing it in steemit in this way.
I be very happy when I go in Esteem wallet and I can hold there BTC and ETH also ... what I can fast use to Boost or promo my posts. Or use this two coins fast to get SP more what can also Boost all steem up in long run.

I hope it is ok what I say, I can think lot. :) @good-karma

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Yes, we have some plans around that as well. 😉

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I hope ... this makes me more happy.

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This is exciting news... I also think it is great signs that the future of Steem is secure in the hands of innovative developers. Do you thinks Steem could be one of the largest competitors in the field of social media?

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Yes, with proper incentives and aligned user expectations, of course better frontends, it will be. We at eSteem doing our best to bring innovation in all aspects, UI, mobile, desktop, web and soon onboarding, etc.

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This is the right direction. Soon will be a bunch of SMTs around and users will have ready solution to trade and exchange them. As I understand will be similar like steem-engine exchange.
It would be great if we could exchange their tokens, also.

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Since XSteem will be opensource, anyone could potentially do PR and add support for SE.

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I will support this project because without a DEX in Steem, SMT projects will find their token difficult to trade elsewhere. We have to think ahead. eSteem team are skilled to build it.

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(Edited)

Hi friend @good-karma! I have been using program esteem for a long time to work with you and especially after the Festivals in Krakow where I met you personally.
After the last update of the program, the last two posts not received a vote. Maybe now I have new requirements and I don't know about it?

https://steemit.com/wednesdaywalk/@olga.maslievich/dog-on-high-fence-and-walk-along-the-street-of-contrasts

Please explain to me what I need to do to get a vote and the percentage will up?

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I am new to eSteem environment.

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I hope this proposal could be something better for oir community. Keep up your best move..!
Regards from Indonesia.

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Always a delight to see future projects by eSteem creator. Though I'm not sure if a new exchange is needed for STEEM.

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Sounds like a good concept to me, Need more DEX's in general

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This is a nice feature added by steem.

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Well until it's fully implemented that's when we'll fully understand this

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Hi, can I ask u is it possible to translate your application in Ukrainian language, I can help u for free😊

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Hi,
If you mean helping translation of eSteem, Surfer and Mobile. Yes we have crowdin for both projects, feel free to check and contribute!

https://crowdin.com/project/esteem-mobile
https://crowdin.com/project/esteem-surfer

Thank you for your support! Once you contribute, you can make a post and share it with us. 😉

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so for eSteem-Surfer Ukrainian 100% done😍
and this week I will make for eSteem-Mobile. I hope😅

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We are working on v2.2.3 release, we will make sure to include translation updates! Thank you!

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I'm sorry for I text here. but I did mobile translation 100%😅

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