New month and new MetalSwap Recap.
Just to remind you, the purpose of these series of articles is to give a brief overview of all the past and ongoing developments of MetalSwap. In addition, we will provide some insights into what we can expect from the protocol in the future. In today's article, we will be summarizing the progress made during the month of April.
If you missed the previous recap, you can find it here.
Today we will follow the same road through:
- Project Updates
- Development Preview
- Community Activities
In the last 4 weeks, there have been three very important updates for the protocol. The first one is the release of the Governance forum, which is the place where all the Swappers can meet and discuss the future of MetalSwap. The second update concerns the arrival of the XMT token within the Celer Bridge and the last, and more important, is the news that MetalSwap won Optimism "Growth Experiment - Cycle 11" Grant!
As said before, the purpose of the forum is to provide a meeting point for everyone who wants to discuss the future of this project. It is divided into seven categories, and within it, some very interesting conversations are already emerging, which we will analyze in the final part of this article in the section dedicated to community activities. If you want to spread your idea about the project go to the MetalSwap Forum and write it down!
MetalSwap X Celer - New Bridge
The addition of XMT to this bridge increases the overall security of the protocol, as it relies on one of the most authoritative bridges in the entire crypto industry. Furthermore, it was chosen for its inter-chain message framework feature, which opens up many possibilities, especially for our DAO. We will delve deeper into this aspect in the final part of this article. Check out the dedicated blog post to learn more about it.
MetalSwap X Optimism - Growth Experiment Grant!
The team is proud to communicate that MetalSwap was selected as a suitable dApp to receive this incentive in OP token. Especially MetalSwap was selected inside the "Growth Experiment - Cycle 11" Grant!.
In essence, we've been awarded a grant that allows us to offer a total of 30,000 OP tokens as a reward to users of MetalSwap's dApp, specifically for trying out the Hedging Swap tool.
Just like last month, the team is proposing additional use cases to promote and incentivize the use of MetalSwap's Hedging Swap. This month, two use cases have been released that are related to the Shanghai upgrade of Ethereum. They analyze partial and total withdrawal, demonstrating how a tool like MetalSwap can reduce volatility in these very unstable situations.
Another category of articles that the team consistently proposes are the "Learning Articles". These cover topics that may interest all dApp users. Let's take a look at the ones released this month, with a brief summary for each.
Market insight Volatility: Analysis of markets of interest to MetalSwap such as crypto and commodity markets.
Bridge Security - XMT Liquidity Migration: Focus on bridge technology.
Markets Knowledge - Financial Derivatives: Introduction to the world of derivatives.
Volumes of crypto derivatives in DeFi: Deep dive on the best derivative protocols in DeFi
Development Conceptual Map: Presentation of a concept map summarizing all the topics the team is working on.
On April 12th, the "Top 10" Swap Competition came to an end. Congratulations to all the winners!
Now the Swap competition is having a break, stay tuned on our official channels for more updates.
Thanks to obtaining this grant from Optimism, the goal now is to bring MetalSwap's Hedging Swap to this blockchain. In the coming days, a MIP will be posted on the Official Governance forum, followed by a vote within the DAO where all XMT holders will express their preference on whether to bring the Hedging Swap to this blockchain or not.
Within the Governance forum, the main topics of discussion were the scalability of Hedging Swaps, with an ongoing debate on which blockchain to use to implement them. The community seems to be leaning towards the Optimism option and with the news from Grants, it is very likely that we will join this blockchain. Another discussion was launched after the announcement of the partnership with Celer Bridge, in which the community is discussing how this new implementation can improve the protocol.
As you have seen, this has been a very productive month for MetalSwap. To summarize everything that has been accomplished, we secured a partnership with Celer, obtained a grant from Optimism and launched the project's forum. Additionally, we published seven articles in the “Learning Articles” and “Use Cases” categories.
The future will hold even bigger surprises, so get ready dear Swappers!
❗ METALSWAP ‘s admins or moderators will NEVER contact you directly on any social under any kind of circumstances.
❗ Everything concerning $XMT ‘s smart contracts and addresses is shared by our official channels (list below), do not trust any different info from any different source.
To the MetalSwap!
… and beyond!
-The DeFi Foundation
✎ What is MetalSwap?
With MetalSwap we enable hedge swap transactions through the use of Smart Contracts, AMM style.