5th Development Update

TeddySwap

Jan 31, 2023 • 2 min read

We are excited to release our 5th development update. TeddySwap is an open-source decentralized exchange protocol on Cardano focusing on stablecoins.

Introduction

Welcome to our 5th development update. TeddySwap was born just over a month ago, and it’s been an eventful journey thus far.

Up to this point, we’ve released 4 development updates, our litepaper, tokenomics, and just yesterday, began selecting the stake pools that will represent the TeddySwap FISO.

The active 10 pools have already been selected. They active stake pools are RABIT, FUNGI, ADAR, PIADA, ADAHS, LSS, ARM1, CBH, AAATO, and VROOM.

The FISO officially begins February 4th, but you can start delegating to these pools now. There is already over 15 million ADA staked to these pools.

Shortly after the launch of our FISO, we’ll release the first details of our Initial NFT Offering (INO) as we prepare to launch our protocol on mainnet Q1 2023.

Technical Progress

Frontend

This week, our frontend team completed the farming and orders section. These were the last main components on our frontend, which means our user interface is close to completion. Next, we are working on adding the charts section. Our new updates have been deployed to our frontend site and our community can play around with the site here.

Backend

[Work-In-Progress] — Finalizing Liquidity Pools for public testnet.
[Work-In-Progress] — Finalizing tTokens (test tokens) for public testnet.
[Work-In-Progress] — Finalizing Testnet token off-chain metadata registry API.
[Work-In-Progress] — Backend API refactor and depreciating the usage of reported_datum custom table from Spectrum Finance base code.
Develop & Deployed FISO Randomizer website.

V2 Contracts

As mentioned in our last development update, this week we focused on integrating all the logic regarding minting and burning liquidity tokens;

With these, all the contracts needed for the swaps are complete and we are now setting up the environment for testing.

As always, our code can be found here on Github.

Final Remarks

Thank you for reading our 5th development update. Our FISO begins this Saturday, February 4th, 2023 at the start of epoch 392. We’ll soon release the first details of our Initial NFT Offering (INO) following the start of our FISO.

Thank you to our community for your support. We are on a mission to create the best stablecoin DEX on Cardano, built on the foundations of open-source code, community, and transparency.

For more information on TeddySwap:

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.