Polkaswap Ecosystem Updates #78, June 5, 2024

Published in
6 min readJun 5, 2024

Major upgrades include burn XOR reserve KARMA, HASHI bridge, TON listing, Kensetsu platform, and upcoming governance feature.

Welcome to the latest Polkaswap Ecosystem Updates! In this issue, we explore the exciting developments surrounding Polkaswap v1.34.0 on Mainnet, featuring significant updates like introducing the Burn XOR — Reserve KARMA mechanism and enhancements to the HASHI bridge. Additionally, we’re thrilled to announce TON is listing on Polkaswap, opening new avenues for decentralized trading and interoperability.

Key Highlights

Polkaswap v1.37.0: Kensetsu Platform.

We’re excited to introduce the Kensetsu platform’s over-collateralized stablecoin system, which highlights the launch of KUSD, and later KGold, KXOR, and other stablecoins in the future. The KUSD stablecoin is backed by a diverse range of collateral assets within a borrowing positions framework, ensuring asset security and stability fees to maintain the peg to the imperialist US dollar.

Users can create and manage borrowing positions with real-time details. The platform also provides comprehensive statistical information, collateral details, position history, closed positions, and liquidation data.

The Kensetsu platform is live at https://polkaswap.io/#/kensetsu/

Polkaswap v1.34: Burn XOR — Reserve KARMA.

Key features:

  • Reserve KARMA by burning XOR Just as the initial KEN supply was determined by burning XOR for KEN, a burn-drop will also happen for KARMA tokens. Users can burn (permanently remove) SORA-native XOR to obtain good KARMA during the fair launch period. Burn here
  • HASHI bridge improvements for Ethereum and Substrate bridge Including fixes for TX account address issues, updated Ethereum API & fee requests, and adding new nodes for Liberland.
  • TX sign simplification Enhanced user experience with the improved ‘remember password’ feature, ‘hide confirm dialogues’, and more!

TON is now Listed on Polkaswap.

Toncoin (TON) is now available on Polkaswap.io! TON is the native currency of The Open Network, a Decentralized layer-1 blockchain.

What can you do with TON on Polkaswap?

  • You can bridge it from/to Ethereum via the HASHI bridge
  • You can swap it with style and freedom

Stay tuned for a TON of things coming up!

Soon, style and freedom might just be easily accessible from Telegram!

Polkaswap v1.35.0: HASHI Substrate Bridge to Liberland.

We’re thrilled to announce our latest technical achievement: the seamless integration of the HASHI Substrate Bridge with the Liberland blockchain. This development represents a major leap forward in enhancing interoperability and scalability within the SORA ecosystem and the Polkaswap DEX.

This integration opens up new possibilities for interaction and innovation between SORA and Liberland.

Polkaswap v1.33.0: HASHI Substrate Bridge with Acala network

What is Acala Network? Acala is a foundational decentralized finance DeFi player in the Polkadot ecosystem. We are working to open more bridges with Polkadot and Kusama Network parachains via HRMP channels for a truly interoperable experience.

Try it here!

Ongoing Developments

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

  • Asset Owner page — 90% complete.

We’re proud to present a groundbreaking innovation in the asset creation process on Polkaswap, designed with a focus on user-friendliness and intuitive functionality. This feature empowers asset creators to issue new tokens effortlessly with just a few clicks. This streamlined token launch process not only simplifies the creation of new assets but also fosters innovation and enhances liquidity on the Polkaswap platform.

By making token issuance more accessible, we’re opening the doors for diverse projects to join our ecosystem. Whether you’re a seasoned developer or a newcomer, Polkaswap’s enhanced asset creation tools ensure a seamless experience from start to finish.

  • Governance page — 10% complete.

We’re delighted to share exciting progress on developing the Governance page directly on Polkaswap! This feature represents a pivotal advancement in our mission to foster decentralized decision-making and community engagement within the SORA ecosystem.

The Governance page will be the central hub for all community-driven proposals and voting activities. Users will have the ability to:

Propose New Ideas: Submit proposals for new features, improvements, or changes within the SORA ecosystem. Participate in Voting: Engage in the decision-making process by casting votes on active proposals, ensuring that every voice in the community is heard and valued. Track Proposal Progress: Stay informed about the status of proposals, view detailed information, and monitor voting outcomes in real-time.

Our development team works diligently to ensure the Governance page is functional, user-friendly, and secure. We are incorporating feedback from our community to refine the interface and enhance the overall user experience.

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

As Polkaswap continues to evolve, we’re committed to pushing the boundaries of decentralized finance (DeFi) with innovations like the HASHI Substrate Bridge expansions and upcoming features such as the Governance page. Stay tuned for more updates, and join us in shaping the future of digital asset exchange within the SORA ecosystem. Don’t forget to participate in our ongoing Bug Bounty program to help us maintain the highest security standards. Together, we’re building a more accessible and vibrant DeFi landscape.

If you missed the previous ones: April 23 / 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.

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.