Polkaswap Ecosystem Updates #66, July 28, 2023

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5 min readJul 28, 2023

It’s been an exhilarating month here at Polkaswap! This time we are delivering our updates in a monthly format, and we would like to hear what you think of this edition!

We’ve rolled out an array of enhancements, features, and breakthroughs to make Polkaswap the premier destination in the world of DeFI and the interoperable future within the Polkadot/Kusama ecosystem.

From introducing Price Alerts to working on pivotal developments around the SORA <-> Substrate Bridge, Polkaswap’s momentum is undeniable.

As we progress into 2023, rest assured it’s only gonna pick up!

🔥 This Month’s Hottest Highlights 🔥

The Polkaswap.io 1.17.0 release was delivered jam-packed with exciting new features and improvements for an enhanced user experience!

Price Alerts

Never miss a beat with the new price alert feature. Monitor the fluctuations of any token available on Polkaswap.io. Stay ahead of the game, always!

Bridge UI Enchantments 🪄

Sleek. Simplified. Stylish. The Hashi Bridge UI has been simplified & improved for better transaction management.

What’s more, it’s primed for upcoming EVM and Substrate bridges, delivering on Polkaswap’s vision of interoperability!

2X Rewards for the XOR-TBCD Pool

Heads up, liquidity providers! Strategic rewards for the XOR-TBCD pool have been DOUBLED!

Improved Network Fee Logic

The network fee logic has been improved based on runtime upgrades and the fee multiplier that adapts to the new features available soon on the SORA network. Polkaswap remains ahead of the curve to help you navigate the ecosystem easily and efficiently.

Here is the full changelog with details!

📚 Insights & Tutorials 📚

July has been a month rich in knowledge sharing. Dive deep into our latest articles, tailored to provide a detailed understanding of the Polkaswap ecosystem and the broader DeFi landscape.

Testing Substrate XCM on the SORA HASHI Bridge

Ahead of the full release of the HASHI bridge Substrate XCM upgrade, we’ve made it possible for enthusiasts and developers to test sending assets between Rococo (Polkadot’s Parachain Testnet) and the SORA testnet.

This hands-on experience utilizes the SORA Rococo parachain combined with the power of Substrate XCM (the cross-chain messaging protocol). Interested in participating in this test phase? Here’s a step-by-step tutorial to guide you through the process.

Unveiling Synthetic Assets: Revolutionizing Finance

The world of DeFi is a dynamic environment, constantly evolving and inventing innovative, new concepts. One is ‘synthetic assets,’ designed to redefine financial markets.

Built on the SORA network, the SORA Synthetics (XST) platform, currently available on the Polkaswap testnet, heralds a new era of technology to value assets. Additionally, it empowers the SORA community to propose and implement new asset types through a robust governance model unique to the Substrate ecosystem.

This article explores synthetic assets, their role in the broader economic context, and how they transform the financial landscape. You can read more about XSTUSD, the existing synthetic asset on the SORA network, here.

✨ Peek into the Future ✨

These are the major developments currently being worked on and soon to be released:

  • Address book & identities — 100% complete

Keep your contacts close with the new Address Book feature (currently on testnet) and make your transactions smooth and breezy! The recently completed Address Book feature will power up the account view, allowing you to name any accounts for easy identification.

  • Implementation of Subsquid service — 99% complete

To improve the accuracy of the data provided in Polkaswap, we have teamed up with Subsquid to bring even more metrics to the Statistics page. Preparing the feeds and ensuring compatibility is the first part of adding Subsquid data.

  • Integration of Subsquid service to Polkaswap — 75% complete

The second part of adding Subsquid data to Polkaswap is being worked on in tandem. Having a clear overview of all the token movements and network changes requires a lot of data. By integrating a Subsquid feed, we ensure you have a reliable and accurate source of information for all your needs.

  • Development of the SORA substrate bridge — 75% complete

We’re inching closer to perfection with the SORA<->Substrate bridge, already flexing its muscles on the public testnet: test.polkaswap.io. Now the focus turns to improving the history management for bridge transactions & history restoration.

  • Implementation of Order Book & limit orders — 10% complete

We’re crafting advanced interfaces to elevate your trading experience! The first versions of high-level mock-ups for order books & limit orders were prepared.

The dev team is concentrated on logic implementation & UI preparation in terms of different widgets like the order book itself, depth chart, trade history, place order UI, etc. The next step will be indexers integration for order book history.

  • XOR native staking UI — 10% complete

Native validator staking is making its grand debut, all within the chic confines of Polkaswap’s 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.

💡Help us Improve💡

The Polkaswap Bug Bounty Programme 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 Polkaswap Updates: July 4 / June 16 / 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.

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.