WingRiders AMA Session. 11.01.2022.

These are the written minutes of the 2nd WingRiders AMA Session.

The main topic covered in this AMA session did focus on our latest blog post about Speed on Decentralized Exchanges.

The below is taken from the AMA Channel of the WingRiders Discord. No changes have been made, unless they were for clarity.

Moderator: Welcome, Riders, to our Discord AMA session

By now it will be a text-only format. Feel free to text your question in that channel. Main topic from our side for today (based on your FAQ): Speed of DEX.

Audience Question #1:

I heard you guys going to be faster than the competition. How are you going to do it?

Moderator: Thanks for the question!

I’d like to introduce one of our core developer team.

Answer — Developer Team Member:

Hi, as we discussed in our blogpost we all share the same blockchain and we the same limitations. Still, there are multiple steps we can take to maximize the speed to fulfill requests. The blocks have a maximum size, so the more we optimize the size of our contracts the more transactions we can fit inside one block. The other limitation is resource usage of the contracts. Especially memory consumption seems to be limiting the number of smart-contract transactions inside one block. These are all things we have been focusing on since the beginning.

Follow Up Question:

Ok so does it matter if I have another wallet or use Nufi for connection and speed? Or do I need to use Nufi?

Answer — Developer Team Member:

You don’t need to use NuFi to have a different experience in speed. All wallets in theory should have the same “speed” for submitting transactions. The question is if they explicitly show the process to you while the transaction is being confirmed or they hide it.

Audience Question #2:

Are Speed and scale interchangeably used in the current iteration of AMM dexes on cardano?

Answer — Developer Team Member:

Could you explain what do you mean by scale? Everybody has a different interpretation for speed. Some consider the speed being the elapsed time between creating an order and fulfillment, others view speed as the number of possible orders fulfilled within one block🙂

Follow Up Question:

By scale I mean the second one which impacts the first one, right? Or is there another design feature that solves time lapses for order fulfillment?

Answer — Developer Team Member:

If you mean scale as the raw number of requests you can fulfill within one block, then yes, this is what we mean by speed. But the speed of fulfillment would also be impacted by other design decisions, like how much do you want to “spam” the blockchain.

Follow Up Question:

Quiet storm. I can dig it. Based on testnet about how many transactions per block are you all running? Also thanks for the opportunity

Answer — Developer Team Member:

With our testnet version of the contracts we were able to consistently fit in roughly 20 orders per block during the load test. You can check the load test results in our blogpost. But this is an ideal scenario. We are both adding features and improving our resource usage in preparation for the mainnet release.

I heard people commenting on speed in seconds it takes for a transaction to go through. You are talking about block sizes and memory units. I am confused, what is the speed of a DEX?

Answer — Developer Team Member:

In simple words, the speed of a dex is how many orders you are able to fulfill inside one block. Memory usage, script size all have an impact. The speed in time is dependent on the overall speed of the particular blockchain.

Audience Question #4:

So are you going to support other wallets as well apart from NuFi?

Answer — Developer Team Member:

Yes, many😉

Audience Question #5:

And does an execution layer on a side chain impact the speed of a DEX? I understand it there are projects that want to execute the swap outside of Cardano mainnet on the second layer…

Answer — Developer Team Member:

We don’t want to comment on other projects. Technically it presents many challenges, since you are adding an additional dependency and an additional integration layer that can go wrong.

Audience Question #6:

Is there a significant number of orders that are not fulfilled bc of price slippage but that were included in blocks? not sure if that’s possible. But curious what users should know about price slippage on context of speed. What are the optimal slippage ranges based on minted tokens?

Answer — Developer Team Member:

“Is there a significant number of orders that are not fulfilled bc of price slippage but that were included in blocks?”

Slippage is tightly related to the amount of liquidity in the pools. The actual orders are small in size, so they don’t present a large overhead for the blockchain.

“What are the optimal slippage ranges based on minted tokens?”

The optimal slippage ranges will differ from pool-to-pool. We are looking into providing support for users to avoid non-fulfillment due to slippage.

Moderator: Riders, we’ll now stop accepting questions.

Thanks very much for participating! We will write up this AMA and publish via our Medium.

END of AMA

The WingRiders team will be hosting regular AMA’s on their Discord to introduce the project and its features and benefits over the coming months. The dates and times will vary to better reach the whole WingRiders community worldwide — stay tuned to us on Twitter for upcoming AMA announcements.