Polkaswap Ecosystem Updates #76, March 15, 2024
Fully Decentralised. On-Chain Order Book. Bridge to Liberland. New Asset Owner Controls. Kensetsu Rising.
Welcome to the latest installment of the Polkaswap Ecosystem Updates, marking the 76th edition. This time, we’re thrilled to share Polkaswap’s advancements and ongoing developments within the ecosystem.
From integrating a fully decentralized on-chain order book to constructing a seamless bridge with the recently formed country, Liberland, and introducing the Asset Owner Controls page, these updates signify our continuous effort to enhance user experience and interoperability in the decentralized finance (DeFi) landscape.
Fully Decentralized, On-Chain Order Book
Key highlights of this update include the public launch of a fully decentralized order book, which now allows Polkaswap to combine the efficiency of an Automated Market Maker (AMM) with the precision of a traditional order book, all operating on-chain for a decentralised, transparent and reliable trading experience. Try it on Polkaswap and share your experience.
We’re also nearing completion of the HASHI Substrate bridge with Liberland, which will enhance connectivity within our ecosystem and support a blockchain-based sovereign state. We’ve made significant progress in the asset management and issuance processes, providing token owners with greater control and insights into their assets.
Moreover, integrating the Kensetsu platform is underway, promising an innovative over-collateralized stablecoin system within Polkaswap. This development will diversify and stabilize the financial options available to our users.
The KEN token is a community-proposed initiative and is not officially endorsed by any centralized authority or organization. Engagement with the KEN token should be done with an understanding of its community-driven nature.
As always, we’re dedicated to improving and expanding the Polkaswap ecosystem. We invite our community to stay engaged, provide feedback, and join us on this exciting journey toward a more interconnected and efficient DeFi world.
Ongoing Developments
As we continue to push the boundaries of DeFi, several notable items are currently in progress:
HASHI Substrate Bridge with Liberland — 90% complete
We’re thrilled to introduce the latest technical advancement: the seamless integration of the HASHI Substrate Bridge with the Liberland blockchain. This integration represents a significant milestone in enhancing interoperability and scalability across the whole ecosystem of SORA and the Polkaswap DEX. By bridging these two ecosystems, we’re opening up new avenues for decentralised application development, enabling seamless interaction and asset exchange between Polkaswap and the Liberland blockchain.
Asset Owner Controls page — 87% complete
We’ve overhauled the asset creation process, prioritizing user-friendliness and intuitive functions. With just a few clicks, asset creators can seamlessly issue new tokens, streamlining the token launch process on Polkaswap and fostering innovation while boosting liquidity on the platform.
Introducing the new Asset Owner Controls page empowers token owners with direct minting and burning capabilities. This enhancement gives asset creators unparalleled control over their token supply, enabling dynamic adjustments to adapt effectively to changing market conditions.
Furthermore, we’ve introduced a comprehensive suite of statistics to offer users a deeper understanding of the performance of their created assets. These metrics cover essential indicators such as trading volume, liquidity, price history, and user engagement for each asset. Armed with these insights, users can make well-informed decisions about their asset strategy, although it’s important to note that this information does not constitute financial advice.
Kensetsu in Polkaswap — 50% complete
The Kensetsu platform introduces an innovative over-collateralized stablecoin system, prominently featuring the launch of KUSD (Kensetsu USD, ticker subject to change). This stablecoin, backed by a diverse array of collateral assets, operates under the governance of individual vaults. These vaults safeguard the assets while implementing stability fees to maintain the stablecoin’s peg to the US dollar.
Meanwhile, Polkaswap has embarked on integrating this groundbreaking initiative. Work has begun by delving into API, mockup preparation, and UI development and devising strategies for its seamless integration into Polkaswap. This proactive effort underscores our commitment to supporting the stability and functionality of the Kensetsu platform. Stay tuned for forthcoming updates as we continue pushing decentralized finance’s boundaries!
Help us Get Better
Read this article on the SORA / Polkaswap Bug Bounty Programme for more information and participation rules.
Bottom Line
A big thank you 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: 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.
