Frequently Asked Questions
I'm a builder: why should I have to create my pair on Woken Exchange ?
Timekeeper is a tool, an option, and is not obligatory. You enable it if you wish. Just as you can disable it and switch back to 24-7. We remain a classic AMM with this optional tool. From our point of view, we believe that in the life of every web3 project, there will always be a time when this option will be very useful and much appreciated.
I'm a builder: the Timekeeper prevents transfers on LP, but what about transfers off LP ?
Our timekeeper is designed to stop the swap, burn and mint functions (which are transfers) for a liquidity pair on the Woken Exchange according to its settings. If a pair is closed, its liquidity cannot move.
However, it's important to note that this does not prevent token transfers outside (e.g. wallet-to-wallet). Unless your own ERC-20 token is also protected.
This means that it is theoretically possible for someone to create a liquidity pair with your token on Woken or another DEX and not respect the trading hours you set, and therefore move at a different price.
It's important to understand that this use case already exists on all DEXes. For example, you can buy a token on a DEX and create a new liquidity pair at a different price.
In practice, such cases are rare, and when they do occur, they provide an opportunity for arbitrage. This would be the same with your token, as it would move at two different prices.
Furthermore, a majority of your holders would have to decide to act in this way for it to become a significant problem. However, if this situation ever occur on a large scale, it could be interpreted as a sign that your project is becoming very popular and could justify a re-evaluation of predefined trading hours by considering a switch back to 24-7.
If you don't yet have your ERC-20 token and plan to create your liquidity on Woken, we have provided an example of an ERC-20 that is protected by the Timekeeper on all transfers to make it scalable with its trading hours wherever it is.
I'm a builder: is my token and its trading hours scalable ?
If you have implemented our tradingMustBeOpen function when creating your ERC20 token, it is scalable with its hours.
Your ERC20 token can only be traded at its hours, no matter where it is (e.g. on another DEX), and you manage it from the Woken Exchange Timekeeper page.
We've provided an example of an ERC-20 protected by the Timekeeper if you want to protect it and make it scalable with its trading hours wherever it is.
I'm a builder: what settings do you recommend ?
It all depends on your business and your needs. However, we recommend to not set a too restrictive trading hours in order to keep your market sufficiently liquid.
I'm a builder: do I have to change my trading hours often ?
We don't advise you to change your trading hours too often, as this can destabilize your community.
There will always be an initial period when you're looking for your best settings, and you'll try different configurations before you find the times that suit you best.
Our advice is to stick with the settings that work best for you and always discuss them with your community before changing them.
I'm a builder: what if I want to close on a public holiday ?
Of course, you may decide to close your market because a certain day is a holiday in your area. Always discuss with your community before deciding to close your market.
I'm a builder: why becoming Certified Project ?
While we provide a bot that notifies in real time of changes to the settings for each pair on our DEX, some investors feel more comfortable investing in a project when they know that a builder can't change the trading hours without their consent.
By joining the DAO, you also become a Woken Certified Project, with all the benefits that brings.
It's important to note that it's generally not a good idea to change your trading hours too often, as it can be disruptive to your community. Opting for a community vote to change the settings only few times a year is not likely to be a significant hindrance.
I'm a Woken Certified Project : can I leave the DAO ?
Yes, you can switch from the PairAdminDao role back to the PairAdmin role.
Of course, this process will be voted on by your community. The reason you asked to join the DAO (and thus become a Woken Certified Project) is to assure your investors that you can't change your trading hours without notifying them. A vote on the DAO will then be required. If the proposal is approved by your community, you'll be able to switch back to PairAdmin.
function requestPairAdmin(address _pair) public isPairAdminDao(_pair) {I'm a WKN holder: why can't I submit trading hours settings proposals?
The submission of new trading hours for a project should be reserved for the Builder (PairAdminDao) of his pair. With his team, he is the best informed person about the specific needs of his project, which guarantees a more appropriate management of his trading hours. This approach also helps to prevent abuse. Let's imagine that a holder submits to close a pair because he wants to celebrate his birthday. Such a decision might not be appreciated by a project team. This underlines the importance of this feature which should be reserved for them.
But rest assured: you can suggest proposals to keep the protocol running smoothly.
What is the Woken Timekeeper Events Bot ?
We've set up a bot on our Discord server that will notify all pairs on the DEX of any Timekeeper changes in real time, in case a builder that is NOT Cerified Project fails to notify his community.
Before investing in a crypto project, it's important to do your due diligence and evaluate the credibility of the project and the team.
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