Description

In this brand new project, Swaplace is a P2P Ownerless, Open-source and feeeless environment for swaps between ERC20 or ERC721 standards.

Think about ENS domains, you can choose a ENS or a bunch of them in a friend or target wallet, propose a swap between your assets (can be a combination of ERC20 and 721) and the target wallet accept or reject.

We will use ENS domains for improve the UX of the platform, you only need to put the ENS domain from the target wallet and it will show all the assets for trade.

How does it work?

This project started with the pain that we had while transferring assets in a bunch or needing to buy them in a marketplace with platform fees. In the first one, I did need to transfer one-by-one asset, and in the second one, I could not only exchange or buy an asset without paying fees for the platform.

With Swaplace we are resolving relevant pains in the ecosystem:

1. High fees from marketplaces;
2. Intermediaries in transactions;
3. The necessity of doing different transactions to transfer different tokens;
4. Need to pay for tokens with a different combination of assets;

The goal of the project is to create an infrastructure capable of being modular and easy to create new approaches above it. As an open-source and brand-new model for swapping, we want to the community foster new solutions and discover new utilities for it, as facilitates exchanges of tokens between players from the ecosystem.

Summarized:

A) Users propose a Swap of any asset. B) Users accept available Swaps.

Detailed:

A) User calls public pure function composeSwap. B) User provides allowances for the biding assets. C) Returned Swap struct is used to call createSwap. D) Swap acceptee provides allowances for asked assets. E) swapId is used to accept the Swap. F) Assets are swapped and the Swap becomes unavailable.

How does it support public goods?

Swaplace as an Open-source first project is designed for Public Goods application. It was born with the idea of being a community-driven construction, as the contracts cannot be upgraded, have no ownership, don't charge fees, their complex mechanics should be built by the community using the interface of Swaplace, there are no external contract dependencies and the protocol itself operates using allowances.

Use cases

Token Trading: The primary use case is for trading tokens within the same blockchain. Users can swap various digital assets, including cryptocurrencies and NFTs, without relying on centralized exchanges, reducing counterparty risk and fees.

Education and Experimentation: Developers and enthusiasts can use Swaplace to experiment with blockchain technology and learn about smart contract development, token creation, and decentralized exchange operations.

Future Possibilities of Swaplace, for Community Improvements

Multiple swap contracts indexed in a global contract, where every swap is focused on a single task aiming at gas optimization. For instance, one swap where there is no time limit. Swaps where the target for the swap is a fixed or a few addresses instead of open. A swap where swaps can have chained bids to keep letting the trade more interesting. A swap with communication on the side, so you can have a conversation during the negotiation. A swap where you swap executions on the blockchain instead of regular transferFrom methods.

Eventually, the combination of all swaps will result in the biggest execution marketplace ever created, allowing atomic matching using AI and flash loans to wipe out good trade opportunities.

Progress and what step are we?

Right now we delivered 95% of the smart contracts necessary for running the protocol, as you can see on our GitHub in the links below.

We are in this right moment creating the design for the application being used with a great UX. As we have the first draws we will share them with the community.

Side-by-side to this we are building and planning a community-driven protocol, we are setting up the discord servers and forums, as twitter accounts, to receive feedback from the community and to share news about the development itself.

Why is this different?

The great difference of this protocol is that now you can choose what token you want to swap with another wallet. When you put the wallet that you to trade tokens, the UI will show what type of tokens it has. That way, you choose those where you want to swap and put an order for being accepted.

OpenSea created a similar approach months later we started this application (we started on January/23) and we were a bit slow in launching it. Anyway, we still differentiate from them, as we can swap different types of tokens, and is an open-source project with the objective of deploying in different chains, and fostering the community around it.

Team

Guilherme Neves (https://www.linkedin.com/in/0xneves/) - Blockchain and Smart Contract Engineer → Contributor for the blockchain ecosystem, built different applications in blockchain → Github: https://github.com/0xneves

Alex T Netto (https://www.linkedin.com/in/alextnetto/) - Blockchain and Smart Contract Engineer → Delegate from ENS Protocol | Chainling Advocate and Contributor for the blockchain ecosystem → GitHub: https://github.com/Alextnetto

Gabriel Novak (https://www.linkedin.com/in/gabriel-novak/) - Product Manager and Growth

Franco Aguzzi (https://www.linkedin.com/in/franco-aguzzi-546506184/) - Front-end Engineer - > GitHub: https://github.com/FrancoAguzzi

Isadora Botelho (https://www.linkedin.com/in/isa-botelho/) - Sr Designer

What the Funds Are For

We are seeking community funds for building this application for all. It will be necessary to finish the Design of the application, as the Front-end, and therefore the deployment in the Ethereum ecosystem and L2 EVMs.

We see a great opportunity for brand use for the ENS ecosystem as a whole, with new possibilities for swapping different assets including ENS Domains.

Milestones/roadmap

1 - Deliver the Design Wireframe of the platform - 3 weeks 2 - Build community, social media and communication channels - 2 weeks 3 - Development of the Front-end - 2 months 4 - Improvements on the smart contract and deployment - 2 months

Additional resources, links, portfolio

How´s behind the project?

Blockful (https://blockful.io/) provides DeFi infrastructure and smart contract creation services for protocols, DAOs, financial institutions, fintechs, and entrepreneurs with blockchain projects.

Twitter Blockful: https://twitter.com/Blockful_io

Swaplace Github: https://github.com/blockful-io/swaplace-contracts Swaplace Article: https://medium.com/blockful/swaplace-f9fd222d5636