GC Development Update — SpicySwap
We’re fully focused on SpicySwap at Genius Contracts!
If you missed the deep dive on SpicySwap, you can find it here.
Hello friends, it has been a few weeks since the Spice Token pre-sale wrapped up, so it’s a good time for a short development update.
In the previous FounderJabba series article, the target was set at 6–8 weeks to get the following done: Roulette, Slots, indexer upgrade, batch functionality, general speed improvements, and SpicySwap Granada deployment. We’ve finished the vast majority of these goals in about 3 weeks. Due to this, we are able to re-prioritize and move some of our milestones up.
Our focus is fully on SpicySwap development until release. We’d like to break down the different facets of SpicySwap that are being worked on. Our major upcoming milestones are the SpicySwap Alpha and Beta. The feature list for each release is summarized at the end of this article.
Recently, SpicySwap has been redeployed on Granadanet to test gas savings. Gas costs for all contract actions are down 70-80%, making Granada a necessity for the release of SpicySwap. Further optimizations will be implemented closer to release, taking gas costs down even more. Additionally, the TWAP price oracle has been implemented base swap contract.
The SpicySwap router contract has been deployed and tested on Granadanet with the base swaps contract. The router is what enables slippage control, complex trades with multiple paths, and further integration with DeFi applications. The core functionality of the router includes:
- Swap Exact A for B
- Swap Exact B for A
- Swap A for Exact B
- Swap B for Exact A
- Add Liquidity
- Remove Liquidity
The Spice Farm contract has also been designed and developed, but more data is needed to thoroughly test it.
We’re aiming for the router and farm systems to be available for use in the Alpha release. The last contract necessary will be the pool deployer, which will be implemented in the Beta release.
Over the past few weeks we’ve been testing our new DipDup powered indexers with great success. The next step is to containerize and deploy the indexers to our cloud infrastructure for high-availability and better monitoring. This will be important for the stability and scalability of SpicySwap and all SalsaDAO-affiliated applications.
In addition to indexers, we plan to host a Tezos Node and better-call.dev instance in the cloud as well. These deployments will provide faster data retrieval on all SalsaDAO applications, including SpicySwap.
The target for the full completion of our cloud migration is the SpicySwap Beta.
On release, we aim to have a full-featured API and statistics page. The API is not under development yet, but the timeline has been moved up. Once the core contracts and infrastructure are up, we can start designing custom indexers to show analytics on swapping, liquidity providing, and Spice farming.
We will strive to have some set of analytics available by the Alpha, but expect a larger release of the API during the Beta. Work on the API will be on-going with regular upgrades post-release.
The SpicySwap UI is extremely important to the success of our DEX. We’ve engaged a UI designer to help us create a great swapping experience for SpicySwap. The plan is to implement a sample UI during the Alpha release and request community feedback. During the Beta release, the full user interface will be unveiled.
We will be providing incentive to help test SpicySwap in the form of an arbitrage game. The reward will be a bonus farm that rewards $sDAO. The aim of the game will be to keep the pools as close to real-life prices as possible.
At the end of the game, we will analyze historical data and see how close the price tracked the true price. Genius Contracts will be playing defense by using our bot army to try and destabilize the price. The bonus farm rewards will decrease by the square of the overall average difference between prices.
Example: if the SpicySwap price was 3% away from true price, rewards will decay by 9%.
The game is set to begin upon the Alpha release.
The next two milestones are the SpicySwap Alpha and Beta. List of targeted features below:
- Router + Spice Farming
- Sample Analytics
- Sample UI
- Testing Game Begins
- Deployer + All Core Contracts
- Full Analytics + API
- Cloud Migration Complete
- Full UI Interface
- Flash Swaps Enabled
Thanks for reading and look forward to the Alpha release of SpicySwap!
Note: The snapshot for the second $SPI airdrop (15k+ $sDAO) has been taken, first and second airdrops to go out this week!