Development Update #2

Written by Tulio Braga (CTO at Swapy Network)

After going towards full decentralization in Swapy Exchange (see Development Update #1) and implementing a prototype of Swapy Financial ID using uPort, here at Swapy we have been working on two major features for Swapy Exchange: (1) The ability to add SWAPY tokens as collateral for the fundraising offers; (2) the marketplace in which investors can exchange the fundraising assets they have invested in to provide liquidity. In this text we will discuss this two major implementations as well as other improvements we made throughout the path.

See below a pic of marketplace’s very first version ( and try our alpha )

Our main implementations for the Swapy Exchange v0.0.3 are:

1. Implemented an action to add SWAPY tokens to the fundraising assets as a collateral for the investment/loans;
2. Way to redeem SWAPY tokens if the asset payback is overdue;
3. Auto-redeem SWAPY tokens when the payback is made under the expected time limit;
4. Option to re-sell fundraising assets for liquidity;
5. Investors select and set their assets on sale;
6. Marketplace listing assets on sale for other investors;
7. Investors can buy assets on sale;
8. Seller confirm the sale;
9. A docker containers’ repository with our first container being a Swapy Exchange development environment;

Marketplace

As our first effort to allow credit companies to raise low-cost money and to provide international investors with the opportunity of higher returns by lending money in those companies, we implemented our very first version of Swapy Exchange in which the companies were able to start a fundraising offer composed by valued assets. Now, we are providing a way to these investors to exchange their assets among themselves for liquidity on the investments/loans. This is the first version of this feature and an improvement on the user experience is on its way, although it is already fully functional.

SWAPY tokens as collateral

One of the utilities of SWAPY tokens at Swapy Exchange is to serve as collateral for the fundraising/loans. By adding SWAPY to their assets, credit companies increase the trust in their fundraising. Although in some cases the collateral will not cover completely the investment if a default happens, it can also be used as a mean to lower the interest rate on the assets when dealing with investors.

We implemented a test net faucet for you to simulate the usage of SWAPYs. Pay attention, these are Standard ERC20 tokens and do not represent real SWAPYs. You can find out more in our Github repository.

Docker containers

We are starting to configure containers with minimum requirements to run our D’apps locally, either for development and testing or use. Later, we will write about those containers and explain how to use them to ease the collaboration of our community. This is also an effort to make the Bug Bounty possible to anyone with a minimum technical knowledge (see our bounty announcement for further information).

Next steps

1. We are integrating the desktop version of Swapy Exchange (an Electron app) with Metamask. As far as we know, two projects have already done this before (see Aragon post and Brave repository). Later on, we disclose the approach we followed on our integration as well as compare with other alternatives. Keep tuned!
2. We are enhancing Swapy Exchange’s user interface and user experience. We received a lot of encouraging feedback on how users are interacting with our current version of Swapy (Alpha 0.0.2). Our team is already working to make our D’App as easier as possible to use.
3. After implementing a prototype with uPort, we started the development of Swapy Financial ID (D’App using React Native and smart contracts in Solidity).

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