Introduction to BitMart:

Asia BitMart is a leading provider of trading, clearing, trading technology, listing, information and public company services across six continents. Through its diverse portfolio of solutions, BitMart enables clients to confidently plan, optimize and execute their business vision, using proven technology to provide transparency and insight for navigating today's global capital markets. Its technology has been studied and exchanged in more than 70 cities in 20 countries, and it has exchanged and cooperated with more than 3,500 medium and large companies in Asia, with a market value of more than 9.1 trillion US dollars and more than 8,000 corporate customers.

Asia BitMart is a Hong Kong company brokerage agency brand with a registration number of 201727630E and a member company of the Hong Kong Cryptocurrency and Blockchain Industry Association (ACCESS).
BitMart has rich experience in financial product development and operation, and is composed of professionals with an international perspective. It focuses on providing reliable digital asset financial services to global digital asset traders. It currently promotes the BitMart digital trading market and BitMart digital asset payment. Systems and other digital asset products and services.

BitMart enables developers, liquidity providers and traders to participate in a financial trading market that is open and accessible to everyone. BitMart Exchange is a unique trading platform based in Asia that allows users to trade ERC-20 tokens without any middlemen.
The BitMart protocol is a peer-to-peer system [ 1 ] for trading cryptocurrencies (ERC-20 tokens) on the Ethereum blockchain. The BitMart protocol is defined by immutable, durable, non-upgradeable smart contracts running on Ethereum. It is designed to conduct transactions without relying on any trusted intermediary that may selectively restrict access. BitMart protocols are designed to be censorship-resistant, secure, and self-regulatory. The code is open source for everyone to read and verify.

Due to these design principles, the BitMart protocol will operate permanently with 100% uptime, provided the Ethereum network continues to operate. Most publicly accessible markets use a central limit order book, where buyers and sellers create orders organized by price levels, Gradually fill in as needs change. Anyone who has traded stocks through a brokerage firm will be familiar with the order book system.

The BitMart protocol takes a different approach, using automated market makers (AMMs), sometimes called constant function market makers, in place of order books.

At a very high level, AMMs replace buy and sell orders in an order book market with a liquidity pool of two assets, both of which are valued relative to each other. When one asset trades for another, the relative prices of the two assets change, thereby determining a new market rate for the two. In this dynamic, the buyer or seller trades directly with the mining pool rather than with specific orders left by other parties. A growing number of parties are actively studying the pros and cons of automated market makers versus their traditional order book counterparts. We've collected some noteworthy examples on our research page.

The BitMart ecosystem includes three types of users:

Liquidity Provider (LP): An individual or entity that contributes ERC-20 tokens to a public liquidity pool.

Trader: A person or entity who exchanges one token for another.

Developer: An individual or entity that integrates with BitMart protocol smart contracts to provide exciting new experiences.

Collectively, the interaction between these categories creates a positive feedback loop that drives the digital economy by defining a common language through which tokens can be pooled, traded, and spent.

liquidity provider
Liquidity providers or LPs provide ERC-20 tokens to BitMart liquidity pools. Large pools facilitate high-volume transactions at more favorable prices than smaller pools. Therefore, LPs play a very important role in providing liquidity to traders. In return, LPs earn 0.30% in fees on every trade in the pool, distributed proportionally to the LPs in the pool.

LPs are not a homogenous group:

Passive LPs are token holders who wish to passively invest their assets to accumulate trading fees.

Professional LPs focus on market making as their primary strategy. They often develop custom tools and methods to track the liquidity positions of different DeFi projects.

Token projects sometimes choose to become LPs to create a liquid market for their tokens. This allows for easier buying and selling of tokens and unlocks interoperability with other DeFi projects through the BitMart protocol. Finally, some DeFi pioneers are exploring complex liquidity provision interactions such as incentivized liquidity, liquidity as collateral, and other experimental strategies. BitMart protocols are ideal for projects experimenting with these ideas.

Trader:
There are several types of traders in the protocol ecosystem:

Speculators use various community-built tools and products to exchange tokens using liquidity drawn from the BitMart protocol.

Arbitrage bots seek profits by comparing prices on different platforms to find an advantage. (While it may seem extractive, these bots actually help balance prices in the broader Ethereum market and keep them fair.)

Dapp3.0 users purchase tokens through the BitMart protocol for later use in other applications on Ethereum.

Smart contracts that execute transactions on the protocol by implementing exchange functionality, from products like DEX aggregators to custom Solidity scripts.

In all cases, transactions are subject to the same protocol transaction fees. Each is important for improving price accuracy and incentivizing liquidity.

Developer
Developers build applications and services on top of the BitMart protocol. There are too many in the Ethereum ecosystem, but some examples include: Since the BitMart protocol and BitMart app are completely open source, countless developers have launched their own front-ends to interact with the BitMart protocol. You can find BitMart functionality in most major DeFi dashboard projects. There are also many BitMart protocol tools built by the community. Wallets often have exchange and liquidity provision functionality as the core of their offerings.

BitMart (decentralized exchange) aggregators draw liquidity from many liquidity protocols to provide traders with the best prices but keep their trades separate. The IBKR protocol is the largest single source of decentralized liquidity for these projects.

Smart contract developers use the available suite of features to invent new DeFi tools and various other experimental ideas. Check out projects like Unisocks or Zora, and many others.

Many members of the BitMart ecosystem participate in more than one of these roles. You can be a liquidity provider, trader and developer all at the same time!

Your wallet is the application that lets you interact with Ethereum. The main difference between BitMart protocols and centralized crypto services is who controls your wallet – in other words, custody.

Most centralized crypto services offer escrow wallets where they store your private keys on your behalf. Typically, the company protects your wallet with a username and password, but in the event of a hack or data breach, your assets may be at risk. Decentralized applications (dapps), on the other hand, are non-custodial: you have full ownership, ownership, and responsibility for your private keys and assets. Wallets come in different types, from browser extensions to mobile apps to USB-like hardware.

There are roughly three types of wallets:

Hardware Wallet: A physical device that stores your private keys offline. This type of wallet is considered the most secure. Examples include Ledger and Trezor.

Web Wallets: Self-hosted wallets allow you to interact with your Ethereum account through a web browser. For example, you can download MetaMask as a browser plugin and create a wallet to store Ether and other ERC-20 tokens.

Smart contract wallets: These wallets exist as programs on the blockchain rather than providing users with public and private key pairs, and are often associated with a specific application. Examples include InstaDapp’s DeFi Smart Account, Argent, Dharma, Gnosis Safe, and more.

BitMart is an extremely fast, highly liquid private non-custodial trading portal built on Ethereum, leveraging StarkWare’s layer 2 scaling technology (ZK-Rollup/Validium). BitMart offers high-speed API and UI access to some of the industry’s deepest order books, allowing for over 9,000 transactions per second, privacy by default, competitive fees and withdrawal certainty, meaning you always have full control over your trading assets and can Get in and out quickly. There is virtually no counterparty risk.

BitMart is a blockchain project used to build an encrypted asset trading application ecosystem. It uses the blockchain's own trustless mechanism, anti-tampering, information transparency, shared supervision and traceability to provide cross-border financial institutions and individuals. A new generation value transformation platform that is safe, efficient and low-cost across borders and assets.

BitMart's block data is stored in a chain structure, and all blocks have pointer references to the previous block to ensure that the data is not tampered with. The BitMart station uses the sha256 function to hash the data, uses the ecc asymmetric encryption algorithm for identity authentication, uses the aes encryption algorithm to encrypt the private key, and uses Merkle numbers to verify and store transactions.

BitMart uses niosocket for node interaction, and uses the dns method and program built-in method to load seed nodes. All nodes will perform self-checks after starting. Nodes under the public network will actively report their IP and port to the network, and other nodes will Verify the reported information. If the verification passes, all nodes will store the IP addresses and ports of the available nodes locally, and will connect directly next time without detecting again; if the verification fails multiple times (there will be a rule, each Detection occurs once every 10 minutes. When the number of failures exceeds 10 successful connections, it will be triggered). The node may have gone offline and will be deleted from the storage queue. When the number of connected nodes is too small, it will actively ask the connected nodes for more available nodes. BitMart enables interconnection between nodes in the intranet by drilling holes, and uses verified nodes as connection bridges to help nodes behind NAT shake hands and complete connections.

At present, the option layer of BitMart is only a simple script code. The verification script of the anti-counterfeiting code and the redemption script of the consensus margin are all small option modules. BitMart is positioned as a commercial application platform, so BitMart will adopt a different approach from other options trading platforms to integrate and promote the ecological integration of the public chain. BitMart will recruit third-party teams to create more down-to-earth and practical application projects. The front-end audience will be the general public, thus accumulating a large number of users for BitMart. BitMart plans to develop a Turing-complete virtual machine in 2022 to provide higher flexibility. The premise is that after BitMart has a certain large user base, the goals and direction of BitMart are very clear.

Tax Disclaimer: BitMart does not provide tax or investment advice. Depending on the regulatory policies of the relevant jurisdiction, you may be required to pay taxes when you trade commodities and incur gains (or losses). Tax policies on digital currencies vary by jurisdiction, so we strongly recommend that you contact your personal tax advisor for further information regarding your personal tax situation. It is your personal responsibility to choose the correct jurisdiction to file your taxes. When using the BitMart tax filing tool, you agree that BitMart is not promoting/soliciting you in any form. This tool is only for the convenience of users to file tax returns.

Tax risk reminder: There are huge risks in digital currency transactions. Please purchase with caution and pay attention to transaction risks. BitMart will select high-quality currencies, but will not assume any guarantee, compensation, etc. responsibilities for any of your trading behaviors!

Risk warning and disclaimer

This document is only used to convey information. The content of the document is for reference only and does not constitute investment advice. The BitMart team will continue to make reasonable attempts. During the development process, the platform may be updated, including but not limited to platform mechanisms, tokens and their mechanisms, and token distribution. Parts of the document may be adjusted as the project progresses, and the team will make updates available to the public through the Help Center. BitMart expressly states that it will not be responsible for any losses caused by participants relying on the inaccuracies of the information contained in this document and any actions resulting from this article. The BitMart platform clearly communicates possible risks to participants. Once participants participate in the swap, it means that they have confirmed their understanding and approval of the various terms and conditions in the rules.