OmniTrade
The Premium Cross-Chain Swap for Omni Coins.
Created on 31st May 2024
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OmniTrade
The Premium Cross-Chain Swap for Omni Coins.
The problem OmniTrade solves
1.Unified Universal Liquidity Pool For Omni Coins: Even though LayerZero tokens have always had the ability to exist on multiple blockchains, yet having a liquidity pool on every chain has made it extremelly challenging for all builders to adapt the tech for their project, with OmniTrade this is no longer an issue.
2. Arbitrage! Who doesn't hate arbitrage? It has ruined countless of projects and charts, but now with only 1 LP on Base for all 15+ supporting chains, this issue is part of the past.
3. Bridging: Traders no longer have to bridge and wait 15-30mins to bridge their assets in order to trade tokens on other chains, through OmniTrade cross-chain trades can happen under 42 seconds, saving traders over 1200+ seconds and protecting them from third party bridges.
Challenges I ran into
1. UI Bugs: It's definitly been a hastle to link the backend with the front end where the user/trader does not feel the slightest change from the regular DEXs on chain they're used to, some bugs still exist on the UI that we are constantly fixing and improving.
2. Insuffiant axlUSDC Pools: Some chains that are supported by LayerZero are still not supported by Axelar, since we're using their axlUSDC pools to conduct our fast bridging, therefore we are limited at the current moment to Axelar's cross-chain pools.
3. Transaction Speed: When we first started we were trying to make this work using Stargate, but ended up with transactions taking up to 5 minutes sometimes, which obviously no trader would ever be ok with, we had to modify and experiment with multiple protocols until we found Axelar and cut down the speed to 30-60 seconds per transaction.
Note: The Github is currently set to a private link for security purposes related to our Axelar credentials, kindly provide me with an account to invite to it.
Tracks Applied (4)
Coinbase Smart Wallet
Paymaster and Bundler
OnchainKit
Payments Track
PAYMENTS with Stripe
Technologies used
Cheer Project
Cheering for a project means supporting a project you like with as little as 0.0025 ETH. Right now, you can Cheer using ETH on Arbitrum, Optimism and Base.