Challenges
Best new subgraph(s)
d
Launch Cross-chain apps & features with Swing’s API, SDK
d
Smart Contracts in Sway
we aggregate liquidity
Chainlink Functions
d
Open Aurora Bounty
d
Build on Base 🔵
d
Trading Competition on Mantle
for new defi deployment
Best Defi/NFT Project on Mantle
d
0x Labs: Build Token Swaps with 0x Swap API
d
Polygon DeFi UX Challenge
d
#BUIDLathon 2023 DeFi Track
Our goal is to bring the billion liquidity of CeFi quant firms to DeFi. We start with a DEX aggregator that minimizes the slippage of their trades, highlights the cheaper prices of DeFi than CeFi, and automates leverage trading to help them hedge.
Project details
The liquidity of CEX has drastically dropped 94% from its high in May 2021, causing crypto professional traders to seek out the DeFi market for more liquidity. According to our survey, 61% of professional traders are already investing or planning to invest in DeFi to avoid losses from price differences between CeFi and DeFi. However, the low liquidity of DeFi platforms and the cost of research and technical resource allocation make it difficult for professional traders to enter the DeFi market fully. This led us to the conclusion that removing the barriers of DeFi and assisting professional traders in accessing the liquidity of DeFi would have a great appeal to professional traders.
Our goal is to bring the billion liquidity of pro-traders in CeFi to DeFi.
We start with a professional DeFi trading tool that (1) minimizes the slippage of their trades in each chain, (2) enables cross-chain swaps (3) highlights the cheaper prices of DeFi than CeFi, (4) maximizes the liquidity of AAVE supplies by automating flashloan, and (5) automates leverage trading to help them hedge.
We have completed the first stage of our project in this hackathon, which is one of the five stages outlined earlier. When traders swap their assets, we capture potential arbitrage opportunities that are profitable, returning a portion of the profits to traders to offset their slippage loss. This helps traders to experience less slippage when using our platform compared to other aggregators.
We are planning to incorporate more chains that our aggregator works on. Additionally, we are considering implementing new features that would enable users to automatically leverage trade and view more cost-effective DeFi pricing compared to CeFi alternatives.
For liquidity sources, we integrated UniV2, UniV3, Dodo, Curve stable swap, Curve crypto swap, Balancer, and AAVE, and are trying to integrate 0x(Request for quote) system. From a multichain basis, we deployed 2 EVM main nets for now in live but will incorporate more than 8 chains(ETH, BNB, Polygon, Arbitrum, AVAX, OP, Mantle, Aurora, EVMOS, BASE, ...). We used the graph for fetching each pool information in the back-end to find out the optimal path in each chain.
For the cross-chain swap, we'll integrate swing for liquidity/token transfer to another chain.