6th Development Update

TeddySwap

Feb 9, 2023 • 2 min read

We are excited to release our 6th development update. TeddySwap is an open-source decentralized exchange protocol on Cardano focusing on stablecoins.

Introduction

Up to this point, we’ve released 5 development updates, our litepaper, tokenomics, launched our FISO, and released the 1st details of our Initial NFT Offering (INO).

The FISO has been an overwhelming success with over 110 million ADA staked. We recently announced we released the new version of our dashboard, which can be found here.

Additionally, we have released the 1st details of the Teddy Bears Club, which is our version of an Initial NFT Offering. If successful, these funds will ensure the long term development of the TeddySwap protocol and ensure we can hire the best audit firms for our open-source decentralized exchange protocol for stablecoins. Yesterday, we released the 1st sneak peek of the Teddy Bears NFT collection.

While these different events are taking place, our development team is hard at work preparing to launch our public testnet, and we are planning to soon announce the official launch date of our public testnet.

Technical Progress

Frontend

The frontend is largely complete and can be played around with here. This isn’t connected to any smart contracts but you can continue to get a feel for the site.

Backend

[Complete] — Liquidity Pools and Tokens for public testnet have been tested and finalized.
[Work-In-Progress] — Off chain token registry is being finalized (this will provide the data to display the token icons and decimal places on the UI).
[Work-In-Progress] — Integrating the updated TeddySwap UI to Spectrum interface codebase.
[Work-In-Progress] — Backend API needs to depreciate the reported_datum table.
[Deployed] — FISO Dashboard, which adds dApp staking functionality, supports all CIP30 compatible cardano wallets, and adds live stats.

V2 Contracts

This week, we began testing the initial V2 contracts.

The data collected will be fundamental to analyze and optimize the efficiency of the contracts (and hence lower the fees) on top of searching for unspotted flaws in the implementation.

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

Final Remarks

Thank you for reading our 6th development update. We look forward to continuing our FISO, launching our Initial NFT Offering, and soon after launching our public testnet.

Thank you to our community for your support. We are on a mission to create a secure and seamless 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.