2nd Development Update

Following the release of our litepaper, we are excited to present our 2nd development update. TeddySwap is an open-source decentralized exchange protocol on Cardano.

Introduction

Up to this point, we’ve launched our litepaper, our 1st development update, released some sneak peeks of our UI, and began our first giveaways.

We are looking forward to the next weeks of TeddySwap where we’ll release the 1st details of our tokenomics, continue our giveaways, and announce our 1st strategic partnerships.

Technical Progress

We are happy to report we’ve successfully completed the first swaps on the DEX UI.

From here, we are rewriting those contracts in plu-ts (the original Spectrum contracts are written in Plutarch). The liquidity pool smart contracts are almost complete, and we are now integrating the formula to check for deposit and withdrawals. Additionally, for the contracts, we further examined the implementation of the fees to be shared by liquidity providers.

Our other updates include:

• [Work-In-Progress] Infrastructure Setup for CI / CD and Hosting for DEX User Interface.
• [Work-In-Progress] Infrastructure Setup for CI / CD and Hosting for Backend API.
• [Work-In-Progress] Establish how Spectrum Pool, Swap, Deposit and Redeem Validators/Contract interact in more detail and the mathematical calculations involved in each validator.
• [Work-In-Progress] Tweaking fee system at the contract level.
• [Work-In-Progress] Setting up Liquidity Pool Staking.
• [Work-In-Progress] Spin up Custom Cardano Test Network to speed up testing.

For the frontend, we added more details to the swap experience and enhanced the overall feel of the site. Our progress can be seen here.

Currently, the site is only optimized for desktop, so it doesn’t look perfect on mobile.

We are working hard to release our public testnet as soon as possible and will continue to update the community on our progress each week.

Final Remarks

Thank you to our community for all your support thus far. We will reward our early supporters and contributors with airdrops following the token generation event. This will take place when the protocol launches on mainnet, which is scheduled for Q1 2023.

Within the next weeks, we will continue to provide all details on our technical progress as we look to launch our tokenomics, first strategic partnerships, and more.

For more information on TeddySwap:

Website | Twitter | Telegram | Discord | Docs | Github

TeddySwap is an open-source decentralized exchange AMM protocol focusing on stablecoins in the Cardano ecosystem. Our protocol is developed by former Cardano Foundation developers and the creators of plu-ts, a smart contract framework built to efficiently deploy Cardano dApps.