Product Feature

Frequently Asked Questions (FAQ)

Are assets safe in DeGate?

There is no way to embezzle assets as all asset-related operations require each user account's authorization. The DeGate smart contract does not have an admin key and the node operator have no means to steal the users' assets.

Why is there a need to deposit?

As DeGate is a decentralized exchange that uses ZK-Rollup technology. Performing a deposit and withdrawal is equivalent to utilizing an L2 bridge.

What are the costs of using DeGate to trade?

  1. 1.
    The gas fee is paid from the L1 wallet to perform an asset deposit.
  2. 2.
    The pre-authorization gas fee during order placement. However, this fee is only deducted to pay for the gas fee and trading fee. This only applies to taker orders.
  3. 3.
    Gas fees are required for operations such as deposit, transfer, resetting the asset private key, permissionless listing, and adding trading pairs.

Why does DeGate charge gas fees?

DeGate is an L2 trading protocol that requires the submission of-chain transaction data to the smart contract which is an on-chain transaction that requires gas fees. Thus, gas fees are charged to users.

How is DeGate able to offer a fast and low trading fees experience?

The key difference is typically, a DEX performs order placement and trades on the chain and for DeGate, the key differentiating factor is that orders and trades are done off-chain and the finalized information is batched and undergoes zero-knowledge proof generation for on-chain submission. This saves a significant amount of gas fees and does not rely on block confirmation time.

What assets can be traded on DeGate?

ERC20 assets that are deployed on the same network as DeGate. Essentially assets on the Ethereum network.

Will DeGate support more quote tokens other than ETH, USDC, and USDT?

In the future, quote tokens can be adjusted to cater to market demand.

What is the use case of DG tokens?

DG is a governance token that is used to participate in proposal voting. All features of DeGate can be used without holding DG.