Polkaswap Ecosystem Updates #77, April 23, 2024
Unveiling new customizable features and substantial bridge improvements in Polkaswap Ecosystem Updates, enhancing user autonomy and expanding cross-chain connectivity in DeFi.
Welcome back to your go-to for all things Polkaswap! Diving into the 77th edition of the Polkaswap Ecosystem Updates. We’ve been busy at work and are excited to share the latest developments. This issue highlights significant updates designed to enhance your DeFi experience.
From customizable swap pages that put you in control, to bridge improvements that broaden Polkaswap’s connections, there’s plenty to catch up on. So, grab a refreshment, settle into your most comfortable spot, and let’s walk through what’s new, what’s improved, and what’s next for Polkaswap. Your feedback and passion drive us forward, so let’s continue exploring the possibilities of DeFi, together.
Hottest Highlights from April
Polkaswap v1.32.0 on Mainnet: Customize your Swap Page
The new version is loaded with features to customize your Polkaswap experience.
- Last Transactions Widget: Real-time updates on the latest transactions.
- Route Widget: See your swap path in real time.
- Volume Updates: Track volume for the selected token as it happens.
- Customizable Interface: Tailor a bespoke Swap page with widget display options.
HASHI Substrate Bridge Improvements
- The Liberland network bridge backbone has been added.
- Polkadot network upgrades are supported.
- Streamlined network management, allowing users to switch between nodes across different networks effortlessly. Automatic switching is also supported for predefined nodes.
- Introduction of explorer links on the completed Bridge TX dialog for improved transaction visibility and tracking
🔍 Check out the full changelog.
Polkaswap testnet: HASHI Substrate Bridge to Liberland
The Polkaswap testnet features the HASHI Substrate bridge connection to Liberland.
Through integration with the Liberland sovereign state’s blockchain, Liberland citizens will be able to utilize Polkaswap’s #DeFi services and connect with other blockchain networks such as #Ethereum, Kusama, Polkadot, and more (coming soon to Polkaswap), acting as a hub for interoperable transactions!
So, what’s Liberland?
Liberland is a based country that runs entirely on blockchain technology, a crypto-friendly sovereign state situated between Croatia and Serbia on the shores of the Danube River. This collaboration opens up a new realm of possibilities, not just for SORA but also for Liberland citizens, enabling seamless interaction and fluid access to decentralized finance.
HMX-XOR is now live on the Polkaswap Order Book!
We’re thrilled to introduce this new addition in collaboration with the Ceres and DAO Hermes teams.
And, did you know?
You can propose any new token pair listing on the order book from tokens available on Polkaswap.
Strategic Bonus Rewards Update is Being Voted on
To be eligible, you’ll need to provide a minimum of 3 million (3'000'000) XOR liquidity in any XOR-paired pool.
Plus, if you contribute to the XOR-VAL, XOR-PSWAP, XOR-DAI, XOR-ETH, or XOR-DOT pools, your rewards are doubled!
⏳ Wednesday 24th April — 11:10 CEST
This is an update to the LP program to reflect the originally designed idea to reward liquidity providers with extra bonuses, particularly those who contributed more to the liquidity pool (above certain threshold).
⚠️ Remember, it’s essential to keep an eye on your liquidity provision status.
If your pool falls below 3 million XOR, you’ll lose eligibility for strategic bonus PSWAP rewards, and your time coefficient will reset, although you won’t lose the bonus you earned.
ℹ️ Learn about $PSWAP strategic bonus rewards.
Ongoing Developments
As we continue to push the boundaries of DeFi, several notable items are currently in progress:
- HASHI Substrate Bridge to Liberland — 95% complete.
We’re excited to unveil the latest technical breakthrough: the seamless integration of the HASHI Substrate Bridge with the Liberland blockchain. This integration marks a significant stride forward in bolstering interoperability and scalability within the SORA ecosystem and the Polkaswap DEX. Now available on testnet test.polkaswap.io/#/bridge, this bridge connects two dynamic ecosystems, fostering decentralized application development and facilitating smooth interaction and asset exchange between Polkaswap and the Liberland blockchain.
- Asset Owner page — 90% complete.
We’ve revolutionized the asset creation process, placing a premium on user-friendliness and intuitive functionality. With just a few clicks, asset creators can effortlessly issue new tokens, streamlining the token launch process on Polkaswap and fostering innovation while enhancing liquidity on the platform.
Introducing the new Asset Owner page will empower token owners with direct minting and burning capabilities. This enhancement grants asset creators unprecedented control over their token supply, enabling dynamic adjustments to effectively adapt to changing market conditions.
Moreover, we’ve introduced a comprehensive suite of statistics to provide users with deeper insights into the performance of their created assets. These metrics encompass vital indicators such as trading volume, liquidity, price history, and user engagement for each asset. Armed with these insights, users can make informed decisions about their asset strategy, although it’s important to note that this information does not constitute financial advice.
- Kensetsu in Polkaswap — 60% complete.
The Kensetsu platform unveils a groundbreaking over-collateralized stablecoin system, spearheaded by the launch of KUSD (Kensetsu USD, ticker subject to change). This stablecoin will be underpinned by a diverse range of collateral assets operating within individual vaults' framework. These vaults safeguard the assets and levy stability fees to uphold the stablecoin’s peg to the US dollar.
In the meantime, the Polkaswap team is about to complete the MVP for this groundbreaking initiative. Users will gain the ability to create and manage vaults, with access to real-time details. The next milestone involves integrating statistical information, transaction history, closed vaults, and liquidation data.
Stay tuned for upcoming updates as we persist in pushing the boundaries of decentralized finance!
Help us Get Better
The Polkaswap Bug Bounty is ongoing! Submit your findings to the Immunefi platform!
Read this article on the SORA / Polkaswap Bug Bounty Programme for more information and participation rules.
Bottom Line
Thanks to our community for your ongoing support and engagement as we wrap up. Your feedback and contributions are invaluable as we continue to innovate and improve the Polkaswap platform. Stay tuned for future updates, keep exploring the new features, and don’t hesitate to share your experiences and suggestions with us. We’re building a more open, interoperable, and user-friendly DeFi ecosystem. Until next time, happy trading and innovating!
If you missed the previous ones: March 15 / February 29 / January 29 / 2023 Year in Review / December 15 / November 19 / October 26 / October 4 / September 18 / August 31 / August 18 / July 28 / July 4 / June 16.
About Polkaswap
Polkaswap is a next-generation, cross-chain liquidity aggregator and hybrid AMM and order book DEX on the Polkadot (and Kusama) network(s), parachains, and blockchains connected via bridges. Through the development of bridge technologies, Polkaswap enables Ethereum-based tokens to be traded. This is done seamlessly, at high speed and low fees, while exchanging assets in a non-custodial manner on the SORA network.
Polkaswap utilises liquidity aggregation technology to trade against multiple sources, promising to solve critical problems AMM DEXs face, such as impermanent loss and pair fragmentation. As an open-source project, it allows the community to add more liquidity sources, enhancing its potential. Polkaswap is the first cross-chain, fully decentralised exchange interoperable via bridges with Polkadot, Kusama, and Ethereum, with Bitcoin and various EVM-based ecosystems coming soon.
