GC Update — SpicySwap Mainnet
We’re gearing up for mainnet release!
Hello friends, here at Genius Contracts we’re officially back in the lab. We’d like to present the final SpicySwap development update before mainnet.
We’re happy to announce that an agreement has been reached with a Tezos-focused development company for the SpicySwap audit, with the code review to be started as soon as possible. This is the final step that is needed to set a mainnet date. We will be releasing SpicySwap on mainnet in the first week of October, with the complete audit report and incentive farms.
The journey to mainnet is almost complete. Our goal is still to create the best DEX on Tezos for users and for builders, so having the audit complete is critical to mainnet stability. We’ve also released a minor UI update on the SpicySwap interface, implementing user feedback that has been received over the past month of testing. Work on the analytics and user dashboard will be ongoing. As we get better data from mainnet, we will be able to display deeper metrics on the SpicySwap interface.
Otherwise, we will be gearing up for release by fortifying our cloud infrastructure, making more UI/UX edits, and continually testing the SpicySwap core protocol. We appreciate the continued support for Genius Contracts and SpicySwap.
SpicySwap Incentives
Upon release, we will be deploying a number of incentive farms with the aim of bootstrapping a base layer of liquidity on SpicySwap. All farms will use Spicy LP.
Main farms: sDAO/WTZ ->SPI and SPI/WTZ -> sDAO
The sDAO/WTZ farm will emit a total of 20m SPI, as promised at pre-sale time. In addition to that, we will be putting up a portion of the remaining GC sDAO for a long running SPI/WTZ farm.
SalsaDAO Ecosystem farms: RSAL/WTZ, GSAL/WTZ, wTACO/WTZ
These SalsaDAO utility tokens will each get a smaller farm that emits SPI, using SPI left over from the pre-sale.
Tezos Ecosystem farms: hDAO/WTZ, QUIPU/WTZ, PLENTY/WTZ, FLAME/WTZ, and ???/WTZ
SpicySwap is not a DEX built for trading just SalsaDAO-affiliated tokens, and to that end we will be setting up farms for popular tokens from around the Tezos ecosystem. These farms will emit SPI left over from the pre-sale. This list is not locked down yet, but will give a good example of what we’re aiming for. This will help make SpicySwap a great place to trade many different tokens.
Going further, in the future we will be holding an sDAO vote to decide what currency to use for a special bonus farm (???/WTZ -> SPI).
FounderJabba Note
Hi. As this is the final development update for SpicySwap, I’d like to add a personal note to wrap things up.
First, I want to say thank you to all who have supported SpicySwap’s development. To the SalsaDAO community, SPI investors, beta testers, tooling teams, I’d like to take this time to just say thanks. I can’t do everything by myself, so having backing and support goes a long way. A special shout-out, once again, to Baking Bad team for creating DipDup. This tool helped create a large backbone of SpicySwap, and development would be much farther behind without it.
While creating this DEX, there were many complexities under the surface that I could have never anticipated, many long nights, and many early mornings. It’s probably the toughest development challenge I’ve ever taken on in my career. And it’s only made me hungrier for more.
With that, I’d like to announce that I’ll be going full-time SalsaDAO on October 1st. Now for some targeted call-outs:
To the SalsaDAO Community, I want to reiterate my appreciation.
I haven’t been able to work on core SalsaDAO apps for a couple months during SpicySwap development, but that ends in October. In the background I’ve been scheming, planning, and designing new apps and features that will solidify SalsaDAO in the Tezos ecosystem. The things I’ve learned from building SpicySwap will turn SalsaDAO into a heavy hitter. Upgraded interfaces, better infrastructure, better tokenomics, increased governance, and more.
Going full time SalsaDAO means I’ll be scaling up community development as well. I’m hoping to have an AMA or livestream of some sort after SpicySwap releases so we can interact better. In short, the era of the shadowy coder is coming to a close. Lets have some fun.
To the builders/toolers, I need your help.
My main focus for SpicySwap post-launch will be integrations. We have an incredibly deep set of metrics for SpicySwap, and I need to know what endpoints and aggregations are needed for better external data integrations. I predict that our fully-functional GraphQL API will help legitimize SpicySwap data at much higher levels, so I’d like to get suggestions as soon as possible.
Contract-level integrations will be a major focus as well, and I’ll be releasing sample contracts which will show how builders can use the SpicySwap core architecture to implement interesting features like programmatic buyback-and-burns and automated conversions.
Bakers, I’ll be working on a proof-of-concept for a “DEXBaker” system that will offer a new way to participate in DeFi and baking at the same time via automated DEX interactions.
As always, thanks for reading. Use the SalsaDAO Wiki to find relevant information and links to our socials.
GC
