exoSwap Development Update
Time for an update on exoSwap.
By now, most of you are probably familiar with the exoSwap collaboration between Mandala Exchange and EXO, but for anyone who may have missed the updates, exoSwap is a hybrid swapping/bridging utility that allows traders to access Mandala’s/Binances order books by connecting their own wallet to the exoSwap DApp, much in the same way they would a DEX.
This hybrid CeDeFi architecture allows true cross-network swapping with the convenience of simply connecting a source wallet and specifying a destination address/network, while also benefiting from the depth of Mandala’s shared Binance order books and security.
exoSwap development has been progressing extremely well, and the aforementioned off-chain component is now complete. This is the ‘meat and bones’ of the application that interacts with Mandala’s infrastructure, handles receipt of user funds, executes trades, and forwards the swapped tokens to the specified destination wallet/chain. In this sense, exoSwap is functionally complete and we’re essentially already in the alpha testing phase – some of you will have seen screenshots of test transactions in either EXO or Mandala’s communities.
Additionally we have also completed the necessary UI components for launch. Take a look at the super clean mock-ups below. Shoutout to our design team!
The only remaining component under development is the smart contracts to allow users to connect and trade on the bridge/swap.
exoSwap’s development timeline was extended somewhat, owing to the decision to make the service available as a whitelabel product to other projects.
The original roadmap for this specific utility was that we would go live on a single chain (BSC) with an incremental addition of the other networks available on Mandala. After receiving interest from several projects on integrating the whitelabel exoSwap, it became apparent that there was potential for significant trading volume to be pushed through from these partners early on, which is of course great for everyone involved.
In response, we opted to upgrade and optimize the off-chain component for scalability purposes, and additionally build in compatibility with all networks supported by Mandala. exoSwap now scales much more efficiently in terms of its ability to handle large transaction volumes, and integration of additional chains is simplified to deploying a compatible smart contract to interact with the bridge/swap. We estimate that the first contracts will be delivered for full end-to-end testing in a few weeks, at which point we’ll be looking to involve beta testers from both communities in the feedback/polishing process before full release.
Please keep in mind that this is an approximate timeline and we’ll be carrying out a short round of internal testing before opening up the beta. Given that the previously discussed off-chain component is complete and is where the heavy lifting is done as far as functionality goes, we’re not anticipating this to be a long process, but in the unlikely event of a bug we’d rather pick up on it before we have our community members trading their hard earned cash on our utilities!
For those less familiar with EXO as a whole, our ecosystem is geared towards generating revenue by providing value that users are willing to pay for in the form of our utilities, and then using a portion of that external income to reward holders in a sustainable way. The same model will apply to our exoSwap and any whitelabel partners – a portion of exoSwap transaction fees will be distributed to our EXO holders, even before the launch of our token.
This allows EXO token holders to directly benefit from the success/popularity of the exchange service itself, and thus aligns the interests of project developers and token investors more closely than has generally been the case with existing CEX/DEX reward models.
-The Exo Team