Komodo Progress Report | Q2 2022

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Komodo Team Updates

Here’s what we’ve been working on since our last update in April 2022.

Development

In May, Komodo held the Season 6 Notary Node Election. We announced the winners on May 31, and newly elected NN operators started notarizing for the dPoW network on June 24.

On June 26, we successfully upgraded the Komodo network to v0.7.2. This is a mandatory update for all Komodo exchanges and service providers. If you haven’t done so already, please make sure to update your Komodo daemon following these instructions.

??The AtomicDEX API team is scaling up! We are building towards our long term product vision.

The team had been working on several tasks that are not mentioned in the 2022 roadmap.

We are preparing for an external security review. We take security very seriously and will work with world-class security experts for the security audit. To get the code handed to the auditors we had to do an internal security code review, update and refactor dependencies, and create an architecture diagram and a SRS document.
Added an Infrastructure enhancement microservice and optimized the blockchain node call amounts. We are working on integrating QuickNode blockchain nodes into our interfaces. The microservice layer we created will allow us to complete the integration.
Added the ability to gather and store fiat price data in the API database. This makes it possible for traders to retrospectively calculate fiat prices for various purposes (i.e. counting ROI, tax calculations, etc.).

In addition, we onboarded four new team members to the API team. Getting them onboarded was a huge task in itself, and we look forward to what we can achieve in the months to come. Welcome Onur, Chaglar, Samuel, and Alina!

Next, let’s review the status of the roadmap items.

ARRR Integration to AtomicDEX API — Most of the integrational work was done, the next step is to integrate it into GUIs for a smooth user experience. We target to complete the ARRR integration into AtomicDEX Desktop in Q3.
Lightning Network protocol integration is almost complete on the protocol side. Currently the team is working on the GUIs mockups finalization to complete the full integration of Lightning Network into our software.
We have re-prioritized Tezos and Solana protocol integrations and postponed them in favor of core protocol enhancements. We have moved it to Q4 as an optional item.
Trezor hardware wallet support with wallet functionalities is almost ready. We still have to review code and polish the user interface on the GUI side. We’ll complete this item in Q3
We are also working towards HD Wallet feature, which will allow you to create and manage multiple addresses from a single seed. Most of the code is there, and we are polishing UI/UX aspects at the moment to deliver the best user experience.

Interface of AtomicDEX Web (closed alpha)

Metamask wallet integration was postponed to Q3
NFT Integration Research and a proof of concept is done. We will begin implementation in Q3.

NFT Collectibles tab on AtomicDEX Web (closed alpha)

We prioritized the protocol enhancements research about the American call options, watcher nodes and liquidity pools. We completed the research in Q2 and the next stage is a proof of concept about the American call options in Q3.

?? AtomicDEX Mobile team is about to release version 0.5.3.

The next release will add a number of new features and enhancements. We also made many small interface polishments.

We added null safety features by updating our Flutter framework to v2.8.1. The benefit is increased performance and less error-prone code.
We removed the swap sound effects.
Now mobile will support Polygon protocol and its PLG-20 token standard.
You will be able to check the contract address of a token, such as an ERC20 token.
¡Hablamos español! We added support for the Spanish language.
Completed massive wallet management logic refactoring and optimization. Previously, multiple wallets on the same app install had to share the same list of enabled/disabled coins. Now you can customize which coins are enabled/disabled for each wallet.
Implemented a smoother way to handle error messages during coin activation.
Based on community feedback, we improved the UX by always showing the ‘Send’ button, even if the wallet doesn’t have funds.
The MCL team requested us to add a way to copy a pubkey, and we implemented that feature request.

The new release will come out in July 2022.

?? AtomicDEX Desktop team is working on the new release version 0.5.6.

Another major release with new features and enhancements.

New DEX tab design – woot! Check the screenshot above for a preview.
We will empower you to stay on top of the crypto markets by adding charts from nomics.com. See the screenshot above!
Improved the address book feature by updating the UX as well as fixing a few visual issues and bugs.
Updated the calendar pop-up style used in the ‘Orders’ tab.
Just like on mobile, you can now copy MCL coin pubkeys.
We added a refund countdown timer for swaps. It’s now easy to understand when you will receive a refund for a failed swap.
The app automatically checks if new updates are available.
Small things matter! Primary input fields and search now have autofocus, which means less clicks. You can also now see which protocol you’re trading in the Order form.

Apart from these, we did many small enhancements and fixes such as general code cleaning, visual improvements, and improved error messaging handling.

Last but not least, we will be adding tons of new coins:

Native (UTXO) coins: `PND`, `RUNES`
BEP-20 tokens: `BLK`, `GMT`, `GST`, `ILN`, `SAND`, `VET`, `WAVES`, `MANA`
ERC-20 tokens: `APE`, `EILN`, `PPC`, `SAND`
PLG-20 tokens: `PPC`, `ILN`, `SAND`

The new release will come out in July 2022.

?? AtomicDEX Web team is finishing a released that will be made available for wider community testing.

We released closed alpha (v0.1.0) to an internal community testing group who provided us valuable feedback. We are making another dev sprint in which we fix the bugs we have found as well as add enhancements and features based on the initial feedback. The biggest feature addition is a dark theme.

Once the new version is ready we plan to expand the alpha tester group. That isn’t too far away as we are already performing short polishment iterations.

Apart from the API team, also the GUI team is expanding as we are onboarding two new flutter devs. One for AtomicDEX Mobile team and one for AtomicDEX Web team.

?? Komodo Core team

The Komodo Core team prepared the codebase for v0.7.2 [Longpan] Komodo daemon upgrade and the start of dPoW Season 6. On June 26, Season 6 Notary Node operators went online! This upgrade provides dPoW security (51% attack protection backed by Litecoin cross-chain notarizations) for 30 blockchains and cryptocurrencies (22 Komodo Smart Chains and 8 external blockchains).

Business

In the past months we have been very active in various events and conferences world wide. For starters, we joined Devconnect in Amsterdam and had a chance to meet Vitalik!

Kadan "ca333" Stadelmann and Vitalik Buterin

Polycryptoblog joined a UTXO Alliance meetup in Austin, Texas, USA at Consensus 2022 and is driving awareness about Komodo technology among the established crypto projects. IOHK CTO Romain Pellerin tweeted about the meetup.

Face-to-face meetup with the UTXO Alliance

We participated in Money20/20. It was a massive event! We noticed how the ice between traditional finance and crypto is melting.

Tony and ca333 at Money20/20

Tony, ca333, and Yurii joined an Amsterdam event and pitched Komodo and AtomicDEX.

Tony and Yurii

Polycryptoblog has been busy pitching Komodo’s blockchain solutions to companies.

Polycryptoblog talks about Komodo

PTYX will be a speaker and discussion panel moderator at Blockchain Summit Latam in Panama. The event will take place on July 6-8th, 2022. Get more info from a tweet by the event organizers.

PTYX speaking at a blockchain conference

Marketing

Our marketing team is preparing for the AtomicDEX Web launch. We are in the process of updating the atomicdex.io website with new content and visual illustrations. We want to especially highlight the Web version and make the interface to be just one click away.

In addition, our plan is to launch a new blog on atomicdex.io that is specifically about DeFi. We already have drafts of 10+ articles prepared to publish once the blog page is live.

Here are the marketing highlights.

CoinMarketCap added a section about AtomicDEX in an article that features the best hot wallets for beginners.
Komodo CTO Kadan “ca333” Stadelmann defined two terms for CoinMarketCap Alexandria: crypto loan and Shiba Inu token.
Forkast News published an op-ed about blockchain bridges authored by Kadan. The article explores recent bridge hacks and highlights the benefits of P2P blockchain bridges like AtomicDEX over AMM bridges.
Kadan appeared on the Cryptonews Podcast to discuss AtomicDEX and DeFi security.
Cointelegraph quoted Kadan in an article about Ethereum killers and what the future of the crypto ecosystem will look like after the Ethereum merge to Proof of Stake is complete.
Newsbit published an overview of Komodo and AtomicDEX (written in Dutch).
We now have access to a self-reporting dashboard for the Komodo (KMD) page on CoinMarketCap. We recently updated the project description to better highlight what Komodo is currently working towards.

We published several new Komodo Academy articles throughout April and early May.

Major Highlights

Komodo Daemon Update 0.7.2 [Longpan]

We announced a mandatory update to the Komodo daemon. The Komodo development team activated changes to the Komodo code base and carried out the update successfully.

Komodo's network upgrade for dPoW Season 6 was a success.

The changes were mandatory and took place on June 24, 2022. Exchanges and service providers were advised to pause all wallet operations for the duration of the update.

?? Read The Post

Komodo’s Sixth Annual Notary Node Elections Finished

The newly elected NN operators are now making notarizations to the LTC network and protecting 30 blockchains and crypto assets from 51% attacks.

In May 2022, Komodo held the 6th annual Notary Node Election.

Notary Nodes are 64 dedicated servers that are elected annually by the Komodo community. They are responsible for running delayed Proof of Work (dPoW) — a security mechanism that recycles the hash rate of the Litecoin network through a series of cross-chain notarizations.

dPoW has successfully defended against real 51% attack attempts and currently secures over 30 production blockchains, protecting several hundred million dollars in value.

Read the blog post to see the official results of the election.

?? Read The Post

Kriptomat Adds KMD

Kriptomat has added support for KMD. We have added Kriptomat to both the Komodo wallets page and Komodo ecosystem page. Kriptomat is a custodial service that enables users to buy, sell, and store Bitcoin, Ethereum, Shiba Inu, and 350+ cryptocurrencies. Users can purchase crypto instantly via credit card, bank account, and all major EUR payment methods.