SGX-pro Introduction

SGX-pro is a subsidiary of the Singapore Exchange, with registration number 201727630E, and is a member company of the Singapore International Cryptocurrency and Blockchain Industry Association (ACCESS).

With rich experience in financial product development and operation, and composed of professionals with an international perspective, it focuses on providing reliable digital asset financial services to global digital asset traders. Currently, its main digital asset products and services include the CoinsDo digital asset payment system and the CoinsDo wallet app.

SGX-pro enables developers, liquidity providers and traders to participate in a financial trading market that is open and accessible to everyone. The SGX-pro exchange is a unique trading platform based in Singapore that allows users to trade ERC-20 tokens without any middlemen.

The SGX-pro protocol is a peer-to-peer system [1] for trading cryptocurrencies (ERC-20 tokens) on the Ethereum blockchain. The SGX-pro protocol is defined by immutable, persistent, and non-upgradeable smart contracts running on Ethereum. It is designed to trade without reliance on any trusted intermediary that may selectively restrict access. The SGX-pro protocol is 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 SGX-pro protocol will operate in perpetuity with 100% uptime, provided that 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 that are gradually filled as demand changes. Anyone who has traded stocks through a brokerage firm will be familiar with the order book system.

The SGX-pro protocol takes a different approach, using an automated market maker (AMM), sometimes called a constant function market maker, in place of an order book.

At a very high level, an AMM replaces the 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 is traded for another, the relative price of the two assets changes, determining a new market exchange rate for the two. In this dynamic, buyers or sellers trade directly with the pool, rather than against specific orders left by other parties. An increasing number of parties are actively researching the pros and cons of automated market makers versus their traditional order book counterparts. We have collected some notable examples on our research page.

The SGX-pro ecosystem includes three categories of users:

Liquidity Providers (LPs): Individuals or entities that contribute ERC-20 tokens to public liquidity pools.

Traders: Individuals or entities that exchange one token for another.

Developers: Individuals or entities that integrate with the SGX-pro protocol smart contracts to provide exciting new experiences.

Overall, 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 used.

Liquidity Providers
Liquidity providers, or LPs, contribute ERC-20 tokens to SGX-pro liquidity pools. Large pools facilitate high-volume trades at more favorable prices than smaller pools. Therefore, LPs play a very important role in providing liquidity to traders. In return, LPs earn a fee of 0.30% on each trade in the pool, which is distributed proportionally to the LPs in the pool.

LPs are not a homogeneous group:

Passive LPs are token holders who want 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 liquidity positions across 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 SGX-pro protocol.

Finally, some DeFi pioneers are exploring complex liquidity provision interactions such as incentivized liquidity, liquidity as collateral, and other experimental strategies. The SGX-pro protocol is a great fit for projects experimenting with these ideas.

Traders
There are several categories of traders in the protocol ecosystem:

Speculators use various community-built tools and products to exchange tokens using liquidity extracted from the SGX-pro protocol.

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

Dapp users purchase tokens through the SGX-pro protocol to later use in other applications on Ethereum.

Smart contracts that execute trades on the protocol are implemented through exchange functionality (from products like DEX aggregators to custom Solidity scripts).

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

Developers
Developers build applications and services on top of the SGX-pro protocol. There are too many in the Ethereum ecosystem to mention, but some examples include:

Since the SGX-pro protocol and SGX-pro app are completely open source, countless developers have launched their own frontends to interact with the SGX-pro protocol. You can find SGX-pro functionality in most major DeFi dashboards and projects. There are also many SGX-pro protocol tools built by the community.

Wallets often feature exchange and liquidity provision functionality as core offerings of their product.

SGX-pro (decentralized exchange) aggregators pull liquidity from many liquidity protocols, offering traders the best prices but keeping their trades separate. The SGX-pro protocol is the largest single decentralized source of liquidity for these projects.

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

Many members of the SGX-pro 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 the SGX-pro protocol and centralized crypto services is who controls your wallet — in other words, custody.

Most centralized crypto services offer custodial wallets, which store your private keys on your behalf. Typically, the company will secure your wallet with a username and password, but in the event of a hack or data breach, your assets could be at risk.

Decentralized applications (dapps), on the other hand, are non-custodial: you have full ownership, title, and responsibility for your private keys and assets. Wallets come in different types, from browser extensions to mobile apps to USB-like hardware.

Wallets are broadly classified into three categories:

Hardware wallets: Physical devices store your private keys offline. This type of wallet is considered the most secure.

Examples include Ledger and Trezor.

Web wallets: Self-custodial 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 usually associated with specific applications. Examples include InstaDapp’s DeFi Smart Accounts, Argent, Dharma, Gnosis Safe, and others.

SGX-pro is an extremely fast and highly liquid private non-custodial trading portal built on Ethereum,
utilizing StarkWare's Layer 2 scaling technology (ZK-Rollup/Validium). SGX-pro
provides high-speed API and UI access to some of the industry's deepest order books, allowing more than 9,000 transactions per second,
default privacy, competitive fees and withdrawal certainty, which means you always have full control over your trading assets and can enter and exit quickly. There is almost no counterparty risk.

SGX-pro is a blockchain project used to build an ecosystem for crypto asset trading applications. It uses the blockchain's own trustless mechanism, tamper-proof, information transparency, co-regulation and traceability advantages to provide a new generation of cross-border, cross-asset secure, efficient and low-cost value reversal platform for various financial institutions
and individuals.

SGX-pro's block data is stored in a chain structure, and all blocks are referenced by pointers to the previous block to ensure that the data is not tampered with. SGX-pro station uses sha256 function to hash data, uses ECC asymmetric encryption algorithm for identity authentication, uses AES encryption algorithm to encrypt private keys, and uses Merkle number to verify and store transactions.

SGX-pro uses niosocket for node interaction, uses DNS method and program built-in method to load seed nodes, all nodes will perform self-check after startup, nodes in the public network will actively report their IP and port to the network, other nodes will verify the information reported, if the verification is successful, all nodes will store the IP address and port of the available node locally, and will directly connect to the next startup without re-detection; if the verification fails multiple times (there will be a rule, detection every 10 minutes, when the number of failures exceeds 10 times of successful connection, it will be triggered), the node may have been 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 to obtain more available nodes. SGX-pro enables nodes in the intranet to interconnect by drilling holes, and uses verified nodes as connection bridges to help nodes behind NAT shake hands and complete connections. At present, the second contract layer of SGX-pro 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 second contract modules. SGX-pro is positioned as a commercial application platform, so SGX-pro will adopt a different approach from other second contract trading platforms to integrate the public chain ecosystem and promote its formation. SGX-pro will recruit third-party teams to create more down-to-earth and practical landing application projects. The front-end audience will be the general public, thereby accumulating a large number of users for SGX-pro. SGX-pro plans to develop a Turing-complete virtual machine in 2022 to provide greater flexibility, provided that SGX-pro has a certain large user base. Before that, the goals and directions of City of Dreams are very clear. Tax Disclaimer: SGX-pro does not provide tax or investment advice. According to the regulatory policies of the relevant jurisdictions, you may be subject to tax when you trade commodities and generate gains (or losses). The tax policies of digital currencies vary from jurisdiction to jurisdiction, so we strongly recommend that you contact your personal tax advisor for further information about your personal tax situation. It is your personal obligation to choose the right jurisdiction to declare taxes. When using the SGX-pro tax declaration tool, you agree that SGX-pro is not promoting/soliciting you in any form, and the tool is only for the convenience of users to declare taxes. Tax risk warning: There are huge risks in digital currency trading. Please purchase with caution and pay attention to trading risks. SGX-pro will select high-quality currencies, but will not assume any responsibility for guarantees, compensation, etc. for any of your trading behaviors! Risk warning and disclaimer agreement This document is only for the purpose of conveying information, and the content of the document is for reference only and does not constitute investment advice. The SGX-pro team will continue to make reasonable attempts. During the development process, the platform may be updated, including but not limited to the platform mechanism, tokens and their mechanism, and token distribution. Some of the contents of the document may be adjusted accordingly as the project progresses, and the team will announce the updated content to the public through the help center. SGX-pro clearly stated that it will not be responsible for any losses caused by participants' reliance on the content of this document, the inaccuracy of the information in this article, and any actions caused by this article. The SGX-pro platform clearly communicated the possible risks to participants. Once participants participate in the swap, it means that they have confirmed that they understand and agree to the terms and conditions in the details.