Equalizer V2 Upgrade: A Faster and More Reliable User Experience

We are excited to announce the upcoming upgrade to our DEX, with the release of our V2 upgrade. This upgrade will include a range of new features and improvements, including a swap UI update with improved routing, upgraded core smart contracts, and an upgraded API that will greatly enhance the user experience of our DApp.

Below, we will provide an in-depth overview of the upcoming changes:

Swap UI Update: (implemented)

• Our swap UI has been updated to use our pools with the Firebird system, selecting superior routes for users.
• We use an algorithm to supply users with excellent swap rates whilst still maximizing our own liquidity as a priority.
• The swap engine is now able to supply any asset on FTM, regardless of whether we have liquidity for it.
• We are able to further minimize slippage for larger trades using our new system.
• Our focus with this engine is to enhance the user experience and become the go-to DEX for swapping on the FTM network.

Upgraded Core Smart Contracts

• We removed inefficiencies & bottlenecks that caused inconveniences for voters while claiming trade fees.
• To address this, we have made an update to the way our bribe contracts operate.
• Previously, we had an internal bribe contract (VoterFees) and an external bribe contract (Protocol Bribes).
• Voter fees were distributed over a 7-day period but due to the checkpoint system, after certain actions, users could not claim their claimable amounts and were forced to wait till next epoch flip.
• To rectify this, we have moved to one bribe contract that utilizes the logic of the external bribe contract. Bribes + Fees are now paid out in a lump sum each week after voting.
• The good news is that the gauge contract is now based on Curve’s battle-tested contracts that secure hundreds of billions today. We are sunsetting the old voter, bribes and gauge contracts entirely, and replacing them with newer optimized iterations.
• Our new gauges come with in-built support for new “types” of liquidity pools including: 2pool/3pool/4pool Curve-style Stable & Crypto (non-correlated) pools, up to 8-token Balancer-style weighted, stable & metastable pools and wrapped Concentrated Liquidity Book NFTs.
• Tax token compatibility added to gauges.
• We have also made various upgrades to the voter contract, including limiting the creation of gauges to pairs containing at least one out of a specific set of tokens: FTM, ETH, BTC, USDC, USDT, DAI & EQUAL.
• Creation of gauges for Stable pools is limited to the multisig, to avoid creation of wrongly configured pools like 2 Volatile tokens in a “StablePool”, which are prone to getting mis-bribed accidentally by partners and protocols.
• We are introducing the ability to dynamically change fees on individual pools, along with an optional limited degree of automation to make these adaptations happen without manual intervention.
• We have upgraded our router to deal with dynamic fees on pairs.
• Our Bribes and Gauges now carry an on-chain rewards tracker which will fuel high-precision real-time analytics on an individual per-user basis. It involves integrations to share a user’s achievements across social media to invite more exposure to Equalizer’s offerings.
• Starting from v2, all the partners & protocols are directly incentivized to seed bribes early in the epoch, while the voters are incentivized to vote late in the epoch. The unpredictable nature of voter fees earned by a user after their vote was cast has been removed, and all voters will earn fees that have already been generated.
• Fees generated in the Epoch will be paid at-once at the end of the same Epoch. This aligns with the core philosophy of “incentivizing fees”, as the pairs that have generated the highest fees in the week will be awarded with the highest emissions in the following week.
• Live fee and bribe accumulation per pair starting starting and ending on each EPOCH.
• A streamlined “Claim Everything” button has been introduced that enables our users to claim everything in a single click! This will save our users a lot of time and energy spent while making so many transactions manually. All the Fees, all the emissions, all the bribes ― all of them sent to your wallet, altogether at once, in just one single transaction.

Newly Implemented Smart Contract Addresses

• Bribes: 0xc8b6fcb95429eb1bc70863adf9e795719f4b7d79
• Gauges: 0x02eb4ac6b4568c5d09722e82dc7fc4fc143378ba
• Voter: 0x14a0b746803ec563be405942259969f9af985c20

Migration to New Gauges

• To receive emissions for the EPOCH starting on from 6th of April 00:00 UTC, users will need to migrate their LP’s from the old gauges to the new gauges.
• Your votes will be reset on the EPOCH ending 30th of March and switched from the previous voter contract to our newly implemented contract.
• You will be voting on the newly created gauge in the lead up to the EPOCH flip between the 30th of March to the 6th of April.
• All this will occur on equalizer.exchange.
• legacy.equalizer.exchange will be in place for people to withdraw and claim any remaining rewards.

Protocols Bribing

• We are looking to impact your process as minimal as possible and appreciate your support to date.
• The DApp will be switched over to our v2 contract base on the 30th of March.
• You will be able to bribe into our new bribe contracts.
• It is suggested that you confirm that the updated contracts are in place on our DApp before making any bribes. We will communicate to you once this is confirmed and ready for interaction.

Upgraded API

• We have completely rewritten our API and it is in testing phase.
• We have reduced the reliance on RPC calls by over 80%
• User reliant RPC calls have been heavily reduced
• The revised API will allow you to perform actions in a faster and much more reliable way.

Also, adding minor front end changes and updating the staking function for liquidity providers.

We are committed to making Equalizer the go-to DEX for swapping on FTM, and we believe that our V2 upgrade will greatly improve our market position and let us focus on growing our community and volume.

We know the last few months have been plagued with usability issues. This was compounded by the fact that we grew at such a rapid pace. Deploying this change will take some effort and there will surely be areas to iron out. Though we are dedicated to bringing you the best DEX design paired with the best user experience in DEFI.