MetalSwap Recap: June


Another historic month comes to an end for the MetalSwap project. The most significant news includes the official deployment of smart contracts on the Optimism Layer2blockchain and the participation in the on Galxe’s Linea Voyage Program on Galxe, plus the brand-new Campaign “Hedging Swap Journey” that is just started!.

This and much more will be summarized in this monthly recap. If you missed the previous one, I suggest you catch up on it now.

Today, we will follow this points:

  • Project Updates
  • Learning Articles
  • Development Preview
  • Community Activities

Project Updates

Official release on the Optimism blockchain

After the MIP-3 was proposed and accepted within the DAO, on June 26th, the team completed the work and released the smart contracts of the hedging swaps on the Optimism blockchain. Now it is possible to open hedging positions, paying significantly lower fees compared to those required on the main Ethereum blockchain. I would like to remind you that in this initial release phase, there will also be incentives in OP tokens, derived from the grant award. This makes opening swaps even more cost-effective! With the deployment on the Optimism blockchain, it is now possible to hedge against the volatility of the OP token, and as we will see later, two use cases for this token have already been released. For this occasion, a live stream was also broadcasted on the official YouTube channel, where part of our team explains the innovations resulting from this incredible milestone.

MetalSwap dApp dashboard - OP Layer2

Brand New MetalSwap - "Hedging Swap Journey" Galxe Campaign

Galxe Campaign: Hedging Swap Journey

Don't miss out on the opportunity to participate in this latest campaign! Although it didn't start in June, it builds upon the tremendous success and high volumes of Galxe's previous campaign. We'll discuss it in more detail in the next paragraph, but make sure to join the Hedging Swap journey before it ends on the 13th ;)

Participation in the Linea Voyage Program on Galxe.

Galxe is a platform that, through gamification processes, invites users to try out various solutions, such as dApps or blockchains, in exchange for different rewards. This week, within Galxe, the eighth week focused on Linea, a Zero Knowledge rollup blockchain, was launched. The theme of this eighth week is the world of DeFi, and among the many quests required to earn points, there are also some tasks to be completed on MetalSwap dApp. The smart contracts have been released on the Linea testnet blockchain, and already thousands of users are completing tasks in exchange for points. At the moment, we can celebrate the reached testnet milestone where over 100,000 hedging swap positions have been opened, and 38,000 liquidity NFTs have been created. This campaign is introducing thousands of people to the MetalSwap protocol for the first time and is proving to be an incredible success. We invite all users to complete the requested quests in the campaign, which, we remind you, is running on Linea, the most famous zk Layer2 testnet on Ethereum's landscape.

New XMT Smart Pool on ETH Mainchain

The month of June also saw the launch of a new staking pool on the Ethereum blockchain. This Smart Pool has a timing of 180 + 60 days and started on June 7th. As we know, smart pools have a locking period after which there is a gradual release of tokens over time. The foundation has made 200,000 XMT available as rewards for those who lock their tokens, and the buyback from the dApp premiums will also be distributed into this pool, bringing extra rewards. At the time of writing this article, the APY (Annual Percentage Yield) of the pool is 9%.

MetalSwap's newest Staking Pool

Learning Articles

This month has been on fire in terms of learning articles released, with a whopping 8 articles published in this category over the past 30 days.

Starting with the recurring articles, the June episode of Market Insight Volatility was released, a monthly column that analyzes markets of interest for MetalSwap. In this episode, we saw how the commodities market had a positive month after nine months of decline.

Since the smart contracts were deployed on the Optimism blockchain, the team decided to create an introductory guide to this blockchain in two articles. The first one is titled "Introduction to Optimism," and the second one is "How to Use Optimism". These articles summarize all the necessary knowledge to start operating within this Layer 2 solution.

The use cases are a series of articles that present real-world scenarios for MetalSwap's hedging swaps. Two of these were released this month: The first one examines the case of a DAO voter on Optimism who wants to participate in the DAO without being exposed to the asset's volatility. The second one proposes a coverage strategy related to liquidity providing on Uniswap V3, with the goal of reducing risks associated with the volatility of the staked asset.

Staying on the topic of Optimism, as you know, MetalSwap won a 30k OP grant to be distributed as an incentive for using the dApp. This article focuses on the distribution system.

Finally, two highly technical articles on Chainlink Oracles were published. The first one focuses on the implementation of oracles within solutions like hedging swaps, while the second one, derived from the Spaghetti ETH bootcamp held in Naples on May 26th, provides insights on the topic of Chainlink Automation.

Development Preview

In this section, we analyze the topics that are currently receiving the most attention and work by the team.

After the release of the smart contracts on the Optimism blockchain, the next major focus will be on the structure of the DAO. MetalSwap already has its own launched and functioning DAO, but there might be some updates in the coming months. All Swappers are invited to share their ideas for the MetalSwap DAO on the forum.

Other use cases will be released in the coming weeks. This category of articles is extremely important as they suggest strategies, sometimes even complex ones, that can provide an advantage to anyone using hedging swaps.

The team is monitoring all the metrics related to the Linea testnet, and given its tremendous success, they are working to search and apply in other similar campaigns.

Lastly, considering the two articles on Chainlink published last month, there may be coming solutions involving smart contract automation to improve and enhance the tool.

Community Activities

After participating in the Linea campaign on Galxe, MetalSwap's social media platforms have experienced a surge in followers. Twitter and Discord have seen a significant increase in new followers. Currently, Twitter is the primary social platform for MetalSwap, with over 32k followers.

An engaging discussion on use cases has started within the Governance forum, and we invite you to read it and share your thoughts.

The forum serves as the focal point for the MetalSwap community, and as mentioned earlier, one of the upcoming major topics will be the restructuring of the MetalSwap DAO. Anyone wishing to share their ideas regarding this topic should do so within it, allowing the entire community to read and comment on them.

In closing, MetalSwap continues to revolutionize the world of DeFi with its innovative solutions. As we say goodbye to volatility embracing the power of hedging swaps, the MetalSwap community can look forward to exciting updates and developments in the coming months. Remember, your ideas and contributions are crucial to shaping the future of the MetalSwap DAO, so don't hesitate to share your thoughts on the Governance forum. Together, we will create a more secure and profitable financial ecosystem. Join us on this journey to success!

Goodbye Volatility!


❗ 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?

MetalSwap is a decentralized platform that allows hedging swaps on financial markets with the aim of providing a coverage to those who work with commodities and an investment opportunity for those who contribute to increase the shared liquidity of the project. Allowing the protection for an increasing number of operators.


With MetalSwap we enable hedge swap transactions through the use of Smart Contracts, AMM style.