Technical details: TestNet Phase2

Published in

MetalSwap

3 min readFeb 21, 2022

Hey there!
Would you like some nerdy alphas?
This is an in-depth look at our mythical main feature, in TestNet on Kovan, in order to figure out what kind of improvements will be applied to the upcoming Phase2.

As mentioned before, we are extremely grateful to all those who have participated with their feedback in our very first testnet phase. Tomorrow a snapshot will be taken of XMTt holders and a 1:10 reward of real $XMT tokens will be airdropped to them through BSC, and today we’ll learn about what is coming next!

⚡So devs! Let’s tear-down our Phase2 TestNet!

Back-end

1) Updated the algorithm for balancing open swaps in both directions to include some borderline cases identified during the first phase.

2) Modified the “pay profit” algorithm for calculating the output from the closure of currency/asset swaps in order to remedy some borderline cases identified during the first that led to the reversal of some tx.

3) Increased the amount of data attached to the events issued by the swap contract in order to facilitate the job of liquidation of swaps in a margin call position.

4) Improved swap settlement algorithms based on events produced by the contract to lower the computational load of interactions with the blockchain.

Front-end

1) Improved the graphical interface of the webapp according to the suggestions of the users collected during the first phase of beta testnet.

2) Introduced a graphical swap balance tool to point out the current market sentiment resulting from currently open swaps.

3) Introduction of an information panel for the use of swaps, with some tips and explanations about the use of swaps in testnet.

4) Improvement of the day picker for better control of the expiry day of swaps being created.

Moreover: listening to our audience across our socials, the Polygon topic is very hot. We always listen to the community, which from the beginning pointed out the high costs of the ETH network. Hence the first proposal of the DAO and the landing on BSC, to allow anyone to become an $XMT holder.

And more, for the actual functionality of the swaps we have always put the security of Ethereum ahead of everything else. Polygon is making huge progress day by day and our team is taking that into account, even if this brings us to little delays in scheduled development.

You know, we always aim to the best efficiency&security!

Stay tuned, we can’t wait for the upcoming next news!!

What a time to be in DeFi!

Warning⚠️

❗ METALSWAP ‘s admins or moderators will NEVER contact you directly on any social under any kind of circumstances.

❗ Everything concerning $XMT ‘s smart contracts and addresses is shared by our official channels (list below), do not trust any different info from any different source.

To the MetalSwap!

… and beyond!

✎ What is MetalSwap?

MetalSwap is a decentralized platform that allows hedging swaps on financial markets with the aim of providing a coverage to those who work with commodities and an investment opportunity for those who contribute to increase the shared liquidity of the project. Allowing the protection for an increasing number of operators.
With MetalSwap we enable hedge swap transactions through the use of Smart Contracts, AMM style.