SpiritSwap allows network users to easily make liquidity pairs and use them in farms for rewards as well as fast swaps between different tokens.
About
SpiritSwap is a decentralized exchange (DEX) and is one of the main liquidity providers in the Fantom Opera Chain. It aims to be a mega-hub of DefF products including:
- Token swaps
- Bridges
- Liquidity Pools
- Lending/Borrowing
Project Objective:
We were approached to adapt, develop, and deploy the following:
- Stable Swap contracts are meant to create liquidity pools for stablecoins. This custom version would contain specific math functions to handle rewards and exchanges
- Balancer V2 smart contracts: a DeFi protocol for token exchange that focuses on security, flexibility, capital efficiency, and gas efficiency.
Conceptualization:
- Study of relevant documentation
- Planning of where to implement custom logic as set by the client
- Breakdown of minimum unit tests to cover
Technologies Used:
- Node.js
- Solidity
- Vyper
- Hardhat
- Truffle
- TypeScript
Features:
- Protocol Vault for all Balancer pool assets
- Gas efficiency
- Permissionless and customizable Automated Market Maker (AMM) logic
- Asset managers
- Low gas cost and resilient oracles
- Protocol fees that are community-governed
Project Challenges:
- With smart contracts, mistakes can result in tremendous losses to end users, so it was important to make sure the underlying logic was solid with a low probability of exploitability.
- Balancer V2 protocol was also different from other liquidity implementations at the time so a proper understanding of its structure was required.
Solutions we developed:
- Experimental contracts to create stable liquidity pairs for the project,
- After becoming knowledgeable on the functionality of Balancer V2 contracts, we worked on a modified version integrating business logic and helped with their deployment.
- Wrote extensive unit tests to test the logic of Factory, Pairs, Deposits, Vaults, and other functions so they would be ready for front-end integration.
