What to Expect on TokenSight V1
TokenSight is set to embark on an exciting journey with the onboarding of its first users in about one week.
This post is your exclusive guide to the array of features available from day one and a sneak peek into the innovative developments awaiting you in the coming weeks and months.
Here's a video before we go through the details.
1. TokenSight V1 Features
TokenSight V1 will go live by the end of November and introduce several features designed to streamline and enhance your DEX trading experience. Explore a world of precise alerts and effortless DEX trading through our web-based platform, fully optimised for both desktop and mobile.
1.1 — DEX Trading Features
Our DEX Trading Features are designed to make trading effortless and efficient, and it’s just the beginning. The initial features will be supported by our integrated EOA (Externally Owned Account — controlled by private keys) wallets, with more wallet types in the pipeline for the coming weeks, as outlined in the next section.
- Token Buy & Sell: Buy and sell any token directly from your integrated TokenSight wallet.
- Limit & Take Profit Order: Set automated orders to buy or sell a token when it hits a specific price.
- Copy Trading: Easily replicate the trades (Uniswap V2 & V3 swaps) of wallets that catch your interest.
- Token Sniping: Be among the first to buy a certain token when its information becomes available in the mempool.
How does Token Sniping work?
The TokenSight Token Sniper is designed to support sniping launches for two scenarios initially:
a) Tokens that are public (via the public mempool) — sniping in the same block.
b) Token launches conducted through a private transaction — sniping in the next block.
To snipe a token, users can specify a triggering function for the token launch. Sniping will be attempted during liquidity addition if the token has no launch restrictions and becomes tradeable after liquidity is added.
Token Sniping is carried out through Bundles, ensuring that the sniping transactions remain private, mitigating any frontrunning risks. Additionally, Token Sniping includes support for validator tipping.
Trade confidently with frontrunning protection and fail guards for your submitted orders.
However, it’s crucial to be mindful of the tradeoffs in transaction execution associated with these advanced features.
All the features will be initially supported by Uniswap V2 and V3 single-hop swaps. Aggregation features and smart order routing are scheduled for later in the pipeline.
1.2 — Alerts
A wide range of actionable alerts will be available for you to use right away. These alerts are specifically designed to help retail and sophisticated traders make smart trading decisions.
- Wallet: Stay in the loop by effortlessly following the trades of any wallet that picks your interest. From simple transfers to token swaps, we’ve got you covered.
- Price Change: Navigate the markets with precision by tracking the dynamic price movements of specific tokens across different time windows — real-time insights at your fingertips.
- Price Target: Get notified straight away when the price of a certain token reaches a target price. Capitalise on opportunities as they unfold.
- New Contracts: Be the first to know about new contract deployments from a preferred builder or any emerging player in the ecosystem. Stay ahead of the curve.
- Liquidity: While sniping adds an extra layer of excitement, our actionable alerts keep you informed when liquidity is injected into specific contracts. Maximise your trading potential with timely updates.
Initially, TokenSight Alerts will be delivered to your Telegram account via a separate Telegram Bot for every alert category and are specifically curated to provide high-signal information.
2. Upcoming Features
We have an exciting roadmap ahead, where our major focus is the security and enrichment of our DEX trading suite, which has all the tools a trader needs in one place. Below, we offer a glimpse of what’s to come in the weeks and months ahead.
At TokenSight, we pride ourselves on being a user-centric platform, valuing your input. Your feedback is pivotal in shaping our roadmap, and we encourage you to share your thoughts. We’re here to listen and ensure that our platform evolves in tandem with your needs and preferences.
2.1 — Account Abstraction Wallets (AA)
Our main long-term focus is security, where you are the sole custodian of your funds. The platform will offer multiple integrated wallets to achieve the smooth UX we have always aimed for, each with a different price-performance impact.
In the TokenSight V1 release, only Externally Owned Account wallets (EOA) will be available, which should be treated as hot wallets.
The private keys for those wallets are encrypted in our servers, and only you can authorise their decryption with valid login credentials. You should take backups of these keys and secure them properly. Regardless of the security measures taken by our team, working with private keys poses a known security risk.
We will include different types of non-custodial wallets in the coming weeks after the initial release. The technical details on these wallets will be included upon release; however, what is important for you to know is that there are no private keys associated with these types of wallets; we utilise Account Abstraction to provide a way for you to authorise transactions with simple methods already familiar to you where you are in full control, such as Touch ID, Face ID, your social media profile etc.
These different wallet types will give you full control over your funds, where only you can authorise TokenSight to perform specific actions on your behalf. However, even though the fees associated with transactions would be higher than the EOA wallets, this should be insignificant, given the level of security you get.
2.2 — DEX Trading Features
We plan to release various features to elevate your DEX automation experience in the coming months. Here’s a preview of what’s on the horizon:
- Support for multiple DEXes: Routing trades optimally through multiple DEXes, such as SushiSwap, Balancer, and Curve.
- Trade execution enhancements: More complex swap involving multiple tokens (multi-hop swaps), DEX aggregation features and Smart Order Routing.
- Token sniping enhancements: More granular sniping support, automated sniping, beyond block 0 sniping, etc.
- Copy trading frontrunning: Gain the ability to front-run the trades you’re copying, offering a unique advantage. It’s worth noting that this feature depends on the absence of frontrunning protection mechanisms employed by the trader you’re following — a strategy with its considerations.
- Multi-chain expansion: Explore trading opportunities across various exchanges and chains. Our upcoming updates will support popular L2 and L1 chains with enough volume, liquidity, and demand. Some chains we’ll be looking at are Arbitrum, Base, Polygon, BSC, and more, providing you with a diverse trading landscape.
- Trading strategies: Automate your trades with pre-defined trading strategies — simple & complex. We will include multiple trading strategy templates from which our users can create their own trading strategies. Each system comprises several simple and complex trading orders executed automatedly. For example, you can create a trading strategy that continuously buys a token under a certain price level and sells it at another price level — with a trailing stop loss and adjusted price levels.
- Execution Algorithms: We will provide different types of order execution algorithms. The goal is to enable the execution of a single trade in multiple steps, which should help you achieve a specific goal while executing the trade (ex., slowly accumulating certain tokens over time, optimally selling a large position, etc.). Some of the execution algorithms that will be included in the platform are TWAP and VWAP.
- Event-based execution: If you are developing an application which performs some on-chain actions based on the alert types that our platform supports, you can configure receiving those alerts via Webhooks in real-time.
2.3 — Other Improvements and Tools
Beyond the AA wallets and DEX Trading features, an enhanced UI/UX suitable for advanced traders is on the way, and it includes:
- Advanced Charts
- Rich dashboard with performance statistics
- Alert delivery to multiple mediums, such as Email, Discord, etc.
- Multi-criteria alerts: Receive alerts when multiple criteria align together (e.g. a group of whales accumulated token X)
- Mobile apps for Android & iOS
- UX usability features: sounds for notifications, keyboard shortcuts, background music, Multi-language support
- Internal Notification System
- App Customisation Features — Set preferences about the UI and various other features.
- Video Guides and App Onboarding Walkthrough
- In-App Release Notes — Discover what’s new
TokenSight goes live at the end of November 2023
We are excited that TokenSight will launch in just two weeks, and we can’t wait to welcome you all to our platform. As mentioned, we will invite users in batches to create their accounts and begin trading through our platform.
Your insights matter to us, and we encourage you to share your thoughts and preferences. At TokenSight, we’re committed to creating a platform that aligns with your needs and enhances your trading journey.
The future holds exciting possibilities, and we’re thrilled to have you on board as we continue to shape the evolution of decentralised trading. Happy trading!
About TokenSight
TokenSight is a decentralised exchange (DEX) trading platform that enables secure and efficient trading with features such as trade orders, copy trading, and alerts.
Learn about TokenSight on Gitbook, Twitter, Medium, Telegram, Discord, and more using our Linktree.
Sign up for the waitlist now at www.tokensight.io!
