Why contributing to Jelly Swap in Gitcoin Grants
What we’ve done and what’s in progress
Gitcoin Grants Round 5 is now live and Jelly has joined. You can fund our project here.
Every single DAI will be highly appreciated.
If you still wonder why to contribute to our project, you can read below some updates of what we’ve done so far and what are our next steps.
The concept
● Jelly is a DeFi product built to achieve interoperability across chains by enabling value transfer between the different networks.
● Jelly enables cross-chain atomic swaps between coins from heterogenous blockchains.
● Jelly is a decentralized, non-custodial and permissionless app powered by Hash Time Locked Contracts.
Jelly allows cross-chain atomic swaps between the Bitcoin, Ethereum and Aeternity blockchains. More networks such as TRON, EOS, NEO and Bitcoin Cash will be added in future. Additionally, there are separate trading pairs between coins (like BTC) and tokens (ERC-20 like DAI) which we believe will be crucial for the Decentralized Finance (DAI-BTC, DAI-AE, DAI-TRX, etc.). It will help DeFi to go beyond Ethereum and spread across other blockchains and thus expand its market.
Apart from swapping coins, Jelly also offers the opportunity to provide liquidity and earn profit. Market Makers can gain profit from price spreads with no restrictions and the ability to get out of the protocol at any time. This is possible due to the instant OTC (Over-The-Counter) market making software developed by our team and called Buttler.
More info about Butler will be available soon.
Road map
What we’ve done so far:
- launched on the mainnet on January with swaps available for BTC<>ETH
- added BTC<>DAI pair to help BTC holders use DeFi products
- integrated Aeternity blockchain and BTC<>AE, BTC<>ETH pairs
- integrated BTC<>WBTC
- integrated Dai Savings Rate (DSR) — users are able to swap BTC/ETH for DAI and deposit it directly into the DSR to start earning interest immediately
- integrated two fiat ramp-ups — RampNetwork and PayTrie
- have our Ethereum contracts audited — https://github.com/jelly-swap/jelly-eth-htlc/blob/master/HashTimeLock.%20Audit.pdf
- released an additional Stats Website where we update constantly all the volume and liquidity data of our dApp — https://stats.jelly.market/
- provided multi-language support — English, German, Russian, Bulgarian and Chinese
Next steps:
- our OTC Market Maker software called Butler is coming in a few weeks — all users interested in becoming liquidity providers will be able to use it in order to gain profit
- mobile view as our major priority- Jelly will be available on mobile soon
- integration of other blockchains — Tron, BCH, LTC, EOS, Tezos, Cardano
- stablecoin on Aeternity — we were asked by the Aeternity community to develop a stablecoin called AES and backed by DAI
- landing page redesign :)
For more information about Jelly:
Landing page: https://jelly.market/
App: https://app.jelly.market/swap
Whitepaper: https://jelly.market/documents/Jelly-Swap-Ecosystem.pdf
Github: https://github.com/jelly-swap
Twitter: https://twitter.com/jelly_swap
Telegram: https://t.me/jelly_swap
