Saturn Protocol
Saturn team
The cryptocurrency market attracted special attention after Bitcoin reached nearly $20,000 by the end of 2017. More and more companies and businesses are joining this potential market. Currently the market has more than 2100 cryptocurrencies with a total market capitalization of up to $121 billion. However, the true liquidity of cryptocurrencies does not really reach this figure. It is caused by the locked tokens which are distributed to founding team as well as the lost tokens which are in the key-lost wallets (according to statistics, 20% bitcoin in circulation is in unknown wallets because wallet owners have lost the private key and almost those are bought at the low price).
On the other hand, investors and traders have to face with many risks of crypto space such as market manipulation, market making, exchange hacking as well as their profit is reduced by friction fees (trading fees, deposit and withdrawal fees, ....). Especially, centralized exchanges are aimed by hackers due to the large number of assets which is gathered in these exchanges. The 51% attacks also focus on these exchanges because hackers can easily track the quantity of assets and the volume of transactions.
In turn, the Saturn team suggests that most cryptoactive assets are waiting for a further decline. In 5 years, up to 90% of cryptoactive assets on the market may disappear for the following possible reasons:
• Practical uselessness of technology and competition
• Bankruptcy of companies-beneficiaries of assets
• Strengthening of state regulators
• Thefts and technical failures
However, the majority of participants in the crypto market believe that the rise in the price of Bitcoin is inevitable. And with it the growth of the remaining cryptoactive assets is inevitable. But according to some, including the company Saturn, prices will increase only for popular cryptoactive assets. The market is consolidating and dumping unsecured trading tools that have become obsolete. As soon as the stabilization and consolidation processes are completed, a new wave of growth is awaiting the crypt players.
**Competitive advantages of Saturn services. **
A. Lower risks compared to traditional exchanges. Mailing
kriptoaktivy on exchanges addresses, the players trust the safety of a third party. Cases of thefts, burglaries and blockings are not excluded. Making transactions through the Swap protocol, players do not send crypto assets to the exchange. The funds remain in the client’s wallet until the terms of the transaction are fulfilled by the counterparty.
B. Speed. Saturn speed is as fast as the blockchains of the exchanged assets and the Internet connection allow. When translating any cryptoactive assets, the number of intermediaries and steps is reduced. Therefore, the time required for transfer and transaction is reduced.
B. Maker's reward system and referral program.
It is planned to implement a full-fledged maker remuneration program, which depends on the volume of transactions during the billing period, and a system of invitation links, which implies reward for the trading volume by invited
registered customers.
D. Separation of markets for the specifics of the exchange and transaction volumes.
D. A large number of names of cryptoactive assets on one trading platform. Using the Swap protocol allows you to start trading on several hundreds of cryptoactive assets.
This concludes the review. In the next issues, we will examine the token and tokenization of the project in more detail. In conclusion, I would like to say that such a project has every chance of success in a crypto-community and bring profit to its investors in the near future.
Saturn Protocol
Saturn protocol is an evolution of ideas developed in Radex that takes the concept of shared infrastructure ownership even further.
As Bitcoin and Ethereum have demonstrated, even the best decentralized projects have a group of people that possess more power over the project than any other participant - the developers. In case of Bitcoin, the developers of the blockchain were the main reason for the Bitcoin Cash hard fork. In case of Ethereum, the developers chose to abandon their Code is Law principle and this led to creation of the Ethereum Classic blockchain.
In case of Radex, we have manifested the power imbalance in two ways. Firstly, we arbitrarily chose that takers pay 0.1% fee that goes to the market maker who provided liquidity as a rebate. Secondly, because most of the tokens on Ethereum blockchain follow the outdated ERC20 standard, we have to follow the ERC223 upgrade procedure[4] and manually list the upgraded token on the exchange. Thus, we the developers control what tokens get listed on the exchange and when.
The solution to such power imbalance would be to create a DAO that governs the protocol instead.
DAO fund
As stated above, the DAO will be able to vote for introducing fees for all or some tokens. All proceeds from the introduced fees will be automatically transferred to the DAO smart contract, and the DAO can decide what to do with those funds through a vote.
The only way for the funds to leave the DAO smart contract is through a successful vote. The funds can be transferred to any Ethereum address, both an account address, such as someone's wallet, or a smart contract address. The use cases for handling the funds include, but are not limited to these:
Pay for bug bounties. It is common for big software projects, such as Google, Facebook, Uber, to establish a fund for bug bounties. These bounties attract white-hat hackers[7] to research the protocol, the apps and contribute security fixes.
Reward projects that contribute to the ecosystem. Any modern software project is judged not by its existing features, but by its potential for growth. Growth requires both marketing and development work. The DAO can decide to support projects that make the overall ecosystem grow and thus contribute to the value of SATURN tokens.
Pay out dividends. One can design a smart contract that will take in funds and allow people to withdraw a portion of the funds proportional to their SATURN ownership snapshotted at a particular block. The DAO can then vote to transfer the funds to this smart contract to financially reward its members.
Invest in ICOs. If the DAO decides to not withdraw the funds, it can either let them sit idly in the smart contract, or the DAO can invest these funds into an ICO and receive the new tokens. These tokens can later be distributed to the DAO members as dividends or traded into ETH through Saturn protocol.
Trade on Saturn protocol. As described in the section about trading bots, the DAO can allocate funds for a secure fund management smart contract provided by Rados or another third party. This has a synergetic effect with the protocol itself, as active bot trading contributes to increased liquidity and trading volume on Saturn protocol. Or, to give you another example, the DAO can use the collected fees to buyback[8] SATURN tokens like big companies do on the stock market.
Benefits of Saturn Black
Investors are possible to participate in the fair and reliable market where there is no market manipulators and market maker because Saturn platform adopts Swap protocol for assets exchanges. Swap protocol will perform the atomic exchange, means that assets will be transfer directly from wallet to wallet, even those crypto assets are in different chains. Thereby, investors do not need to deposit into exchange platforms to trade their assets.
o First, investors will avoid the risk of exchange hacking as well as pay for exchange fees.
o Second, investors are free to trade their cryptocurrency without the manipulation, all transactions are based on the consensus of both parties.
o Final, investors have ability to trade the cryptocurrencies which are yet listed on exchanges or have a low liquidity.
Companies who take part in Saturn Black token sale will acquire the incentives from Saturn team as well as be able to contribute to solve their token liquidity. In addition, the startup companies may obtain the complete evaluation of liquidity of their own cryptocurrency in future when it is listed on exchanges.
Bounty hunter can trade their bounty rewards after receiving it. No longer to wait the token issuers list their tokens on exchanges. With the high liquidity brought by Saturn Black platform, bounty hunters are able to gain immediately their money.
Saturn Black token
XSAT will be the main quotation for every asset in Saturn platform as well as a medium of exchange with the high liquidity. There will be multiple XSAT-cryptocurrency pairs to increase the liquidity of these cryptocurrencies. Saturn Black team also intends to make XSAT become the trustworthy crypto asset as Bitcoin, even become a collateral.
The purpose of issuing Saturn token (symbol: XSAT) is to use it as a liquidity asset as well as a quotation asset in Saturn platform. In addition, Saturn team also plans to make XSAT token become a collateral asset but this decision will be considered later.
XSAT token is based on standard ERC-20, Ethereum blockchain. The information of XSAT token and token sale are following:
XSAT Contract address: 0x0d9e614937a308438337a2999acf64fc86bf098a (Do not send anything to this address! This is not a smart contract.)
Total supply: 1,000,000,000 XSAT
For sale: 750,000,000 XSAT
Price per token: $ 0.125
Private sale: November-December 2018
Pre-sale: Announcement in December 2018
Public sale: 1Q 2019
For more information about token sale, please visit Saturn website, Saturn Whitepaper or write to them sale@saturn.black
Token distribution
Saturn services
Escrow: Allow users trade their crypto assets with the aid of reliable third-party.
OTC cross-chain trading: Allow users trade their cryptocurrencies through Swap protocol.
OTC auction: Allow users acquire the large amount of crypto assets with the best price and low commission.
Direct exchange with fiat currency: Allow users exchange crypto – fiat in all services of Saturn platform.
Saturn Black official media channels
Website: https://saturn.black
Bitcointalk thread: https://bitcointalk.org/index.php?topic=5075635.0
Whitepaper: https://saturn.black/wp-content/uploads/2018/11/saturn-white-paper-eng-1.0.1.pdf
Facebook: https://www.facebook.com/Saturn-Black-200220127527617
Twitter: https://twitter.com/saturn_twitt
Instagram: https://www.instagram.com/saturn_xsat/
Blog: https://saturn.black/blog/
Telegram:
Saturn Official Group: https://t.me/saturn_ENGchat
Saturn Official Channel: https://t.me/saturnblack
Saturn Official Bounty: https://t.me/joinchat/JdHS-FjKRv21ihGR2y8ZyQ
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HellenXaveria
BITCOINTALK: https://bitcointalk.org/index.php?action=profile;u=980199
ETH: 0xD6AF7435Fd7c6DB12B00E92752c03A7d466A52e8