Hello, I am reaching out to see if there was any community interest in listing Badger/Digg on Moonswap? Moonswap is an AMM DEX running on the Conflux Network and is regarded as a layer 2 solution to Ethereum. Moonswap provides high-speed and 0 GAS TRADING FEES. This by itself is a huge win for Badger community. Furthermore, Moonswap is launching Kepler protocol which allows users to utilize assets on Layer 2 via Conflux while the Layer 1 assets on ETH can be reinvested into projects like Yearn/Harvest/Compound/etc or lets say Badger’s SETT vault. You can read in depth about how Moonswap, Kepler and Conflux will work together to utilize 100% of ETH assets here:
In short, users could use Moonswap to buy cBadger and cBTC with 0 GAS fees, swap for mBadger/mBTC, stake these assets in a LP on Moonswap Layer 2, Kepler protocol will then bridge these into Layer 1 assets Badger/BTC and restake them into the Sett vaults/Badger staking etc which will earn additional interest. Moonswap is already a fully functioning DEX with a great community and solves part of your high gas fee issue while Kepler allows us to earn more interest on our original assets = more $$$. Moonswap is already very interested in partnering up we just need Badger on board.
I can go into very specific detail on how this would work and break everything down but I think you can get the picture from the article. Please ask questions!
Layer 2 is something that I think Badger needs to think about now. Other major defi apps are already close to implementing various forms of it and soon I would imagine users will flock to the protocols with cheap gas fees and take their liquidity with them.
Some questions I have are how difficult would this be to implement?
Would it work with all out current pools?
How secure is it?
What’s the user experience like? Does it add more steps?
To answer your questions,
I believe it would be fairly simple to integrate Badger/Digg on Moonswap. It would be just as Uniswap was listing a new token or creating a new pool. We would need to make sure that all the assets are properly wrapped so that Moonswaps Kepler Protocol would bridge them successfully. I will have my developer team comment on here to provide additional detail on the specifics i.e how long this process would take, additional resources required if any etc.
The nature of Kepler is to bridge our Layer 2 pools with Layer 1 pools so this should be successful. Again, we would just need to confirm how we wrap/list our Assets on Moonswap to avoid any confusion
MoonSwap has open sourced the contract code and passed the security audit of SlowMist and KnownSec.
MOON Contract (Ethereum): 0x68a3637bA6E75c0f66B61A42639c4e9fCD3D4824
cMOON Contract (Conflux): 0x8e28460074f2ff545053e502e774dddc97125110
MoonSwap Contract (Conflux): 0x882c4ddb1d3210b5ae778360729c04cd3242df70
Our Code: moon-migration · GitHub
- The user experience is fantastic. We have positive support from our community in how easy it is to transfer, buy and sell tokens on Moonswap. There is a slight learning curve only because users need to download a new “ConfluxPortal Wallet”. Works exactly like metamask but is designed to work with our layer two assets. Using our Shuttleflow technology, users can transfer assets like ETH to our ConfluxPortal wallet and it automatically gets wrapped into our Conflux asset cETH on a 1:1 ratio. This is when you can the benefits of layer 2 like the 0 gas fee trading. The same when transferring out.
In short, this will add 3 extra steps. “Downloading a ConfluxPortal Wallet”, “Transferring assets into Moonswap” “Transferring assets out”. You can check out the wallet here:
We also have a functioning mobile app on android and IOS is in the beta testing phase now to fix any bugs. You can learn more about the app and download it here: MoonSwap