Swush : DEX Aggregator on Polkadot Asset Hub

[muddlebee]

Project Abstract

Swush is a DEX aggregator built on Polkadot Asset Hub, specifically to meet the needs of Polkadot’s cross-chain DeFi users. By leveraging cross-chain messaging (XCM), and aggregating assets from multiple parachains, Swush allows users to swap assets seamlessly across the ecosystem with minimal friction.

Full proposal can be found here

Grant level

• Level 1: Up to $10,000, 2 approvals
• Level 2: Up to $30,000, 3 approvals
• Level 3: Unlimited, 5 approvals (for >$100k: Web3 Foundation Council approval)

Application Checklist

• The application template has been copied and aptly renamed (project_name.md).
• I have read the application guidelines.
• Payment details have been provided (Polkadot AssetHub (USDC & DOT) address in the application and bank details via email, if applicable).
• I understand that an agreed upon percentage of each milestone will be paid in vested DOT, to the Polkadot address listed in the application.
• I am aware that, in order to receive a grant, I (and the entity I represent) have to successfully complete a KYC/KYB check.
• The software delivered for this grant will be released under an open-source license specified in the application.
• The initial PR contains only one commit (squash and force-push if needed).
• The grant will only be announced once the first milestone has been accepted (see the announcement guidelines).
• I prefer the discussion of this application to take place in a private Element/Matrix channel. My username is: @_______:matrix.org (change the homeserver if you use a different one)

[muddlebee]

@keeganquigley like we discussed earlier :)
apologies for the delay, can you please review? thank you

[muddlebee]

We plan to store all the assets including all the parachain assets like HDX,GLMR as foreign assets at Polkadot Asset Hub.

https://wiki.polkadot.network/docs/build-integrate-assets#foreign-assets

Foreign assets are those assets in Asset Hub whose native blockchain is not Asset Hub. These are mainly native tokens from other parachains or bridged tokens from other consensus systems (such as Ethereum). Once a foreign asset has been registered in Asset Hub (by its root origin), users are enabled to send this token from its native blockchain to Asset Hub and operate with it as if it were any other asset.

I will update the proposal with above info for better clarification. Proposal updated with above info

[muddlebee]

I have added some more architecture diagrams in Project Details -> Core Components section and some other clarifications in the proposal.
Please let me know if any further clarficiation required, more than happy to explain or add anything :)

[keeganquigley]

Thanks for the application @muddlebee I think the biggest point of contention when discussing this internally with the other committee members was whether this should be funded by a DeFi protocol or DeFi grants program instead of W3F. But seeing that it will be fully integrated with Asset Hub, and have a focus on Plaza, makes me believe that perhaps this could help to jumpstart a solution for what might become an urgent need once smart contracts are live on AH.

One thing I'm not seeing in the application is a comparison to the other mentioned projects. Could you perhaps make a brief comparison to Chain Flip and Squid Router, and how these projects differ? EDIT: I do see that you compare to the other aggregators.

Also, do you foresee any uncertainties related to Plaza's ongoing development? Anything that might need to change along the way?

[muddlebee]

@keeganquigley thank you for your response.

Could you perhaps make a brief comparison to Chain Flip and Squid Router, and how these projects differ?

Hey these are cross chain DEX's which help swap across blockchain networks like MoonBeam <-> Ethereum and other Ethereum L2s outside of Polkadot. I mentioned it as an example to highlight the importance of cross chain solutions.
I will clarify this in the proposal.

Also, do you foresee any uncertainties related to Plaza's ongoing development? Anything that might need to change along the way?

Currently I dont think so. In our development scope we have added only for Polkadot Asset Hub DEX and Hydration DEX which doesn't involve any smart contracts yet. But down the road we have to figure out on how to integrate smart contracts, which is beyond the scope of development roadmap proposed.

[muddlebee]

also some updates on our current Development Status

Latest UI : https://swush-labs.github.io/swush-me-app/

UI features enabled

• Asset Swap/Conversion
• Confirmation screen after clicking "Swap"
• Responsive UI for mobile/tablet view
• Asset Conversion Details/Route

UI demo

Recording.2024-11-18.135554.mp4

Still in development, we plan to iterate it further :)

[keeganquigley]

Thanks @muddlebee looks good. I am willing to give it a shot to help jumpstart the initial PoC, but in my opinion after this it would be great if you could hopefully apply for treasury funding or some other source. I will mark as ready for review so the rest of the committee can comment.

[muddlebee]

I recently made a huge swap on Hydration and ended up paying high fees. A similar transaction on StellaSwap (Moonbeam) would have cost much less in fees. This highlights how a DEX aggregator can simplify the process by fetching the best rates across the ecosystem. :)