GitcoinzksyncSep 20, 2022

goldmining.eth donated 3.00 USDT on Gitcoin

JediSwap: First AMM on StarkNet enabling instantaneous swapping of assets with almost 0 gas fee , 100% driven by community

Note: Donations for this grant are for development only. Do not expect anything in return.

There is not a single person on any kind of contract in JediSwap. Everything is done by the community and 300+ contributors.
JediSwap is one of the first protocols to receive a grant from Starkware.

What is JediSwap?
JediSwap is a fully composable and permissionless AMM that enables users to swap assets and earn yields on their assets instantly with almost 0 gas fees. Builders can build more advanced applications on top of JediSwap without asking anyone's permission. JediSwap is completely open source for anyone else to use in any way they want.
JediSwap is built on StarkNet - a Validity Rollup on Ethereum enabling unlimited scalability to web3 while relying on the security of Ethereum.

JediSwap is an entirely community-driven project. Independent open source contributors do everything, including development, design and marketing. Anyone can come and start contributing by joining JediSwap Discord.

Who is behind it?

Mesh Finance community is leading the development of JediSwap, which has been building in DeFi for the last 18 months. Mesh has been deploying and experimenting with multiple blockchains, including Ethereum, Polygon, Arbitrum and almost all top DeFi protocols.
Mesh community is bottom-up; anyone can start contributing and become a leader as they contribute. There is no power concentration. Mesh has developed a system to measure all kinds of contributions, including development, design, community management, growth etc. Compared to most DAOs, Mesh is not just decentralising governance but enabling operations and execution in a community-driven way.

What is different?
Mesh community believes that billions of people will come to crypto-only if it is cheap, secure and easy to use.
Cheap - JediSwap will be one of the 1st gasless dapp on StarkNet.
Secure - Thanks to StarkNet, JediSwap leverages the security of Ethereum. Users never rely on multisig bridges to leverage a cheaper and scalable ecosystem.
Simplicity - JediSwap believes in simplicity both for users and builders. Users can swap or earn by adding liquidity in one single click. By keeping the simplicity rule on the smart contracts level, JediSwap also enables devs to build many different kinds of applications, which was impossible on L1s before. There are already 25+ teams building on top of JediSwap. These applications include creating on-chain games, metaverse projects, cross-chain apps, aggregators and furucombo style dapps.

Why Validity Rollups (aka ZKRollups) and StarkNet?
The next wave of crypto will come for various non-financial applications like gaming. As a result, there will be a 100x number of tokens launching on scalable L2s instead of L1s. These users will prefer the cheapest tx and the most uncomplicated applications that are easy to understand and use. Mesh community believes StarkNet is a front runner in the Validity Rollup (also known as ZKRollup) ecosystem. Mesh community has been building on StarkNet since October 2021 and, since then, seen a 20x increase in the number of builders building on StarkNet.

What else is special?
While building JediSwap, the Mesh community will publish many public goods. Some of the published public goods include
StarkNet React library - it saves hours of work for any builder building a frontend app on StarkNet
Base64 encoding in Cairo - a primitive which can make generative art possible on Starknet
DeFi Pooling(coming soon) - Enabling access to L1 apps by batching txs on StarkNet
DAO tools and frameworks

Testnet - JediSwap launched a testnet in Jan 2022, and 20000+ users have used the testnet since then.
Next 3 months:
Mainnet - JediSwap will be launched on mainet in Sept 2022.
Integrations - focus on building integrations with 50+ dapps
Launch DeFi Pooling as a public good
Onchain contributor profile

From Address
From Handle
To Address
To Handle
zksynczksync's icon
Sep 20, 2022 04:41 AM