Polkaswap Ecosystem Updates #64, June 16, 2023

Published in
5 min readJun 15, 2023

Polkaswap development status updates are released every two weeks, with development updates from across the community.

Moving forward, Ecosystem updates from SORA, Polkaswap, and Fearless Wallet will be presented separately, allowing each project to have a space to highlight their specific roadmaps and development.

In the rapidly evolving DeFi landscape, marked by innovation, development, and regulatory challenges, one can’t help but remain in awe of the resilience and tenacity of the crypto community. From Uniswap’s journey towards v4, promising user customization and fee optimization, to the unnerving security exploit of Sturdy Finance, we witness the dynamic nature of this space.

Amid these significant events, we also see the ripple effects of proposed regulatory changes by the U.S. Securities and Exchange Commission (SEC), aiming to redefine decentralized exchanges (DEXs) under the umbrella of conventional securities legislation.

This sweeping change, threatening the very existence of blockchains in the U.S., has sparked vehement objection from platforms like Polygon Labs.

Such turbulent context underscores the relevance of Polkaswap, a project that continually pushes the boundaries of DeFi technology with its relentless drive for innovation. Polkaswap continues to work to make the most advanced and cutting-edge technology also the easiest to use and most stylish. There should not be a compromise between decentralization and ease of use.

With Polkaswap, you can get the best of both worlds, along with the confidence that Polkaswap will remain stylish and free in spite of the regulatory uncertainty in both the U.S. and Europe.

As this new cycle begins, welcome to the standalone updates for Polkaswap as part of the overall SORA ecosystem updates.

Polkaswap aims to make DeFi stylish, fast, and easy to use for everyone.

Let’s dive into our bi-weekly updates and cover the most exciting developments from the last weeks.

The new release is currently being designed and will include several key features, explained below. We are also working on awesome and complex features for future releases. 👀 Here is the status for each task being worked on.

Polkaswap v1.17 Launches on Public Testnet

The much-anticipated Polkaswap v1.17.0 is now live on the public testnet, featuring a range of synthetic assets and more! Try it out at test.polkaswap.io

Support for Synthetic Assets

We have introduced the long-awaited XST synthetic assets platform, initially adding 30 new synthetic assets for user testing and exploration. These assets get data from oracles providing price feeds for an almost endless array of synthetic currencies.

As the first governance-based synthetics platform on a substrate-based chain, the SORA Synthetics platform enables users to propose the synthetic assets of their choice. Through governance and a democratic on-chain voting process, these proposed tokens can then be created from oracle data and added to Polkaswap.io.

Please remember that this is currently only available on our public testnet. All assets will need to pass an on-chain governance voting process by the community for integration into the mainnet when the platform is ready.

Price Alerts

Stay abreast of fluctuating token prices with our new price alerts feature. These alerts serve as helpful tools for traders, enabling them to respond promptly to market changes and set and adjust trading strategies based on real-time information.

To explore this feature, simply hover over the bell icon located in the top-right corner of the http://test.polkaswap.io website.

Google Login

With our Google Login feature, you can create or import a SORA account and execute transactions effortlessly in your browser, without needing an external wallet. As wallet extensions are typically confined to specific browser types, implementing Google Login considerably broadens the use of https://polkaswap.io across a more diverse array of devices and browsers.

It is important to mention that this feature is opt-in. If you prefer to use the mnemonic, feel free. This feature is aimed at inexperienced users who would find it easier to save their seed in a web2 service.

UI Preparation for Bridges

We’re also simplifying and enhancing our Bridge UI. This includes improved transaction management and a refreshed UI in preparation for upcoming bridges. In the end, the goal is for you to have all the bridges to all the networks through a seamless experience.

Ongoing Developments

As we continue to push the boundaries of the DeFi landscape, several notable items are currently in progress:

  • Development of Multi-bridges UI, featuring HASHI Bridge, EVM Bridge, and Substrate Bridge — 45% complete.
  • Implementation of Subsquid service — 95% complete.
  • Integration of Subsquid service to Polkaswap — 45% complete.
  • Address book & identities — 95% complete.
  • High-level mock-ups for order book & limit orders — 5% complete.

Bottom Line

Despite regulatory challenges and security concerns, the DeFi sector remains a hotbed of innovation. Platforms like Polkaswap are continually advancing, propelled by the crypto community’s unwavering commitment to security, transparency, and groundbreaking financial solutions.

As we navigate this largely uncharted territory, it’s crucial to stay fearless, adaptable, resilient, and united towards our shared vision: a more decentralized, equitable, and revolutionary financial future.

Trade on Polkaswap via Mises Browser

Trade on Polkaswap.io with even more style and freedom using the Web3-optimized Mises Browser! Mises is an open-source and user-friendly mobile browser compatible with most Chrome extensions 🌐 Learn more at mises.site

The Polkaswap Bug Bounty is ongoing! Submit your findings to the Immunefi platform!

Polkaswap Bug Bounty Programme

For more information and participation rules, read this article on the SORA / Polkaswap Bug Bounty Programme.

About Polkaswap

Polkaswap is a DeFi application on the SORA network, it is a non-custodial liquidity aggregating, cross-chain AMM DEX designed uniquely for the Polkadot ecosystem. It offers boundless liquidity through its one-of-a-kind Aggregate Liquidity Technology (ALT).

Polkaswap utilizes SORA network interoperability with the Polkadot and Kusama networks, as well as the capability to bridge external blockchains (like Ethereum) to the Polkadot ecosystem.

Connect With Us

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https://polkaswap.io is a non-custodial cross chain AMM DEX designed uniquely for the Polkadot and Kusama ecosystems and hosted on the SORA 2.0 network.