Polkaswap Ecosystem Updates #65, July 4, 2023
Polkaswap development status updates are released every two weeks, with development updates from across the community.
The dynamic nature of the DeFi industry and the recent significant events illustrate how essential our continuous innovation (改善) is. Based on a De.Fi Rekt report, over $204 million was lost to DeFi scams and hacks in the second quarter of 2023 alone. This dramatic increase in incidents underscores the importance of robust, secure DeFi platforms like Polkaswap, which are equipped with advanced security measures and are dedicated to the protection of users’ funds.
Adding to this, an insightful article from Cointelegraph recently shed light on the fact that while CeFi’s perceived security and strength may attract customers. The user expectations set by innovative DeFi technologies and protocols are increasingly significant. If CeFi entities can’t keep up with these expectations, their benefits may become less appealing, especially to younger demographics and markets, and could eventually lose their relevance.
As the liquidity hub of the SORA network and the interface of amazing technologies like the Token Bonding Curve, the HASHI Bridge, and the upcoming XST platform, Polkaswap is constantly innovating and pushing the boundaries of powerful features with an easy yet intuitive user interface. New features are constantly under development, and improvements are being made to ensure that your experience is always the best. You can help test Polkaswap to get a first-hand preview of the game-changing improvements that are constantly being added to the DEX for the interoperable future.
Let’s dive into our bi-weekly updates and cover the most exciting developments from the last weeks.
The new Polkaswap 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.
Ongoing Developments
As we continue to push the boundaries of the DeFi landscape, several notable items are currently in progress:
- Development of the SORA Substrate Bridge — 50% complete
The SORA to Substrate end of the bridge is complete. Currently, work is ongoing on the Substrate to SORA side, which should be ready in early July. Once that is ready, the focus will turn to improving the history management for bridge transactions. - Implementation of Subsquid service — 97% complete
- Integration of Subsquid service to Polkaswap — 50% complete
- Address book & identities — 97% complete
- High-level mock-ups for order book & limit orders — 25% complete
- $XOR native staking UI — 5% complete
- A very exciting update for Polkaswap is that native validator staking, not one-sided liquidity provision, will soon be available within the interface! This means that instead of nominating your favourite validator from the Dotapps.io interface, you will be able to choose and fund your favourite node with style and freedom! Development for this feature has just begun, so more details on this feature will be available as work progresses
Bottom Line
As emphasized in the 2023 Polkadot Decoded event, the focus on innovative apps in the Dotsama ecosystem will be crucial to improve network adoption and user growth. Polkaswap, as the DEX for the interoperable future, is fully aligned with this focus and constantly improved with features to increase token availability and liquidity within the ecosystem while striving to maintain a user interface that is both friendly and intuitive as proof that even the most technologically advanced features can be accessible to anyone.
One of DeFi’s main goals is to democratize access to finance so that everyone can have full control over their assets, with the highest standards of privacy, which harnesses the advantages of ground-breaking technology.
Drop the middleman and take charge of your financial future with style and freedom!
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
Polkaswap Bug Bounty Programme
The Polkaswap Bug Bounty is ongoing! Submit your findings to the Immunefi platform!
For more information and participation rules, read this article on the SORA / Polkaswap Bug Bounty Programme.
If you missed the previous ones: May 31 / May 15 / April 21 / April 10 / March 23 / February 27 /February 9 / January 23 / older Ecosystem Updates are archived here, and Dev Updates are archived here.
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.
