Saturn Protocol ICO

1. Abstract
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2. ERC223
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2.1 ERC20 → ERC223 upgrade protocol for existing tokens
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3. Radex
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3.1 Overview
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3.2 Radex protocol
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3.2.1 Deposit
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3.2.2 Check Balance
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3.2.3 Withdraw
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3.2.4 Create order
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3.2.5 Cancel order
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3.2.6 Execute order
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3.2.7 View the order book
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3.3 Architecture review
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3.3.1 GDAX
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3.3.2 EtherDelta
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3.3.3 0xProject
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3.3.4 Radex
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4. Vision
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4.1 Saturn Protocol
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4.1.1 DAO fund
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4.2 Radex
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4.2.1 Desktop app
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4.2.2 Trade explorer
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4.2.3 API server
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4.3 Rados
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4.3.1 Trading bots
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4.3.2 Decentralized money management
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4.3.2.1 Stage zero: HODL contracts
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4.3.2.2 Stage one: Humans
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4.3.2.3 Stage two: Trading bots...

1. Abstract
Early adopters of cryptocurrencies have earned life changing amounts of money in 2017. This
growth can be attributed to two different factors. The first is increased adoption. More people
have learned about cryptocurrencies, downloaded and installed wallets and made their first
purchases in 2017 than in all other years combined. The second cause is derived from the first -
big money investors have noticed this booming market and they are trying to carve themselves a
large share before it’s too late to do so.
It is of particular notice that these two causes have generally attracted two different cohorts of
people under their banners. The first group is represented by those who think that money should
be free from external interference. The street on which you were born should not determine
whether you end up printing free money or work your entire life to earn it to survive. The second
group of people is represented by large institutional investors who want to preserve the financial
st...

cryptocurrency exchange that wants to supplement their order books with shared liquidity. Saturn
Protocol will be governed by
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Saturn DAO
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5
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]
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- a decentralized autonomous organization that
utilizes
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SATURN
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tokens in order to vote for protocol changes. After Saturn Protocol gets
launched on Ethereum mainnet, Radex will be the first exchange to adopt this new protocol. We
further propose the roadmap for Saturn Protocol development, Radex improvements, and
describe services for cryptocurrency investors that
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Rados.io
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will offer on top of Saturn Protocol.
2. ERC223
ERC223
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is a new token standard proposed by Ethereum Classic developer Dexaran
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on March,
5th 2017. The new standard seeks to address the design mista...

2.1 ERC20 → ERC223 upgrade protocol for existing tokens
Developing smart contracts while keeping both standards in mind is both harder to do and more
error prone
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. We invented an upgrade protocol
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that wraps an existing ERC20 token in an
ERC223 layer. This way neither you, the user, nor the creator of the original ERC20 token need to
do anything special in order to upgrade your tokens. Future developers of smart contracts will be
able to create such wrappers by themselves using our open source code (already published on
Github) and we hope this will help with the standard’s adoption.
This solution allows us to enable ERC20 token trading on Radex
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[
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without compromising user
security. The same solution will be utilized for enabling ERC20 tokens to be tradable via
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Saturn
<...

exchange), EtherDelta
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and 0xProtocol
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. At the end of this section we will review and compare
these different architectures and will outline further areas of improvement for Radex.
3.2 Radex protocol
Radex protocol is the smart contract that’s deployed on Ethereum blockchain and the interface
that it speaks. The code for the smart contract is available on our Github
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and you can explore
the deployed version on Etherscan
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.
This smart contract has enough functions to implement a token exchange completely on-chain
without any need to maintain off-chain centralized infrastructure.
You can skip this section if you’re not interested in code, and instead jump straight to
architecture comparison
​
. If y...

// check 0xdeadbeef's STN balance on Radex
await
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radex
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.
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balanceOf
​
(
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stn
​
.
​
address
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,
​
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'0xdeadbeef'
​
)
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;
// check 0xdeadbeef's ETH balance on Radex
await
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radex
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.
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balanceOf
​
(
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'0x0'
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,
​
​
'0xdeadbeef'
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)
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;
There’s also a concept of
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commitments
.
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Commitments are tokens that are locked into created
orders. You can similarly check how much does a person have in opened orders.
await
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radex
​
.
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commitmentsOf
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(
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stn
​
.
​
address
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,
​
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'0xdeadbeef'
​
)

The smart contract assigns an
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orderId
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to a newly created order that you should retrieve from the
logs.
After an order gets created a
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NewOrder(orderId, trader, token1, token2, amount, priceMul,
priceDiv, time)
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gets published.
3.2.5 Cancel order
If the market conditions have changed and you no longer wish to keep an order open at the
same price point you can cancel the existing order.
await
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radex
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.
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cancelOrder
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(firstOrderId)
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;
You can only cancel orders that you yourself have created. An
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OrderCancelled(orderId, time)
event gets published after a successful transaction.
3.2.6 Execute order
Once you read the logs and recover the
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orderId
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that was assigned to an order that interests you,
you can execute this order for the amount of tokens that’s less than or equal to its capacity. <...

3.2.7 View the order book
This is the trickiest part. The order book is not stored on the blockchain in the most readable
fashion due to the platform’s limitations. However, we produce just enough
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events
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in transactions
that modify state that we can recreate the order book at any time by reading all events starting
from the block when Radex was deployed on the blockchain and recreating the order book from
scratch based on this information. This allows independent exchange implementations to be in
sync among each other without having to trust a centralized API maintained by an exchange.
In other words, we treat the blockchain as an append-only log. We build on the architecture that
is decades old in database research. Most recently this architecture received big praise in the Big
Data ecosystem thanks to the work done by the great engineers of LinkedIn and SalesForce
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3.3 Architecture review