Grant Application: Swapr <> CoW Protocol Support, Integration and Alignment

CoW Grants Program Funded Grants
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1

Grant Title:
Swapr <> CoW Protocol Support, Integration and Alignment

Author:
DXdao & Swapr (& Stackly)
Swapr’s github: GitHub - SwaprHQ/swapr-dapp: DEX meta agregator
Contact: Sky - DXdao contributor

About You:
Swapr is a fully decentralized, permissionless and immutable AMM and is home to the Eco Router. Swapr is a product of DXdao that owns its own front ends, and is therefore able to provide traders with one of the safest front ends in the web3 environment.

Towards the end of last year, Swapr set-up to become the primary decentralized front end for the CoW Protocol on Gnosis Chain and Mainnet. You can find more details here: Full MEV Protection from CoW Protocol within Swapr’s Eco Router. Though there are a few additional parts of CoW that might have centralized dependencies, having a front-end that is owned by a decentralized entity is quite valuable. Both CoW and Gnosis understand well the importance of decentrally owned front-ends, and the benefits that this brings to your protocol and community.

So far, DXdao and Swapr have been building support for CoW Protocol based on relationship, but better alignment would potentially lead to a stronger partnership. Although this grant proposal is focused on adding new features and future collaboration, it is important to note the alignment of Swapr with the CoW ecosystem during the last year which included integration of CoW Protocol into Swapr’s eco router. Swapr would also be interested in exploring a token swap when appropriate.

Via a COW grant, DXdao and Swapr could strengthen alignment via gaining a voice in CowDAO’s governance in addition to having financial incentive to continue to invest resources into strengthening the CoW ecosystem.

The value that Swapr is adding to the CoW ecosystem can be tied to three of the Grant categories: CoWmunity Growth, User interface and User experience (UI/UX) and Decentralization

Swapr has already integrated CoW Protocol into Swapr’s eco-routing and has been promoting CoW Protocol integration to its wider community.

An additional highlight, DXdao recently altered its DXD buyback program to leverage CoW Protocol driving more DXD order flow to CoW.

DXdao is also a large user of Liquidity Orders on CoW. As a DAO, DXdao has been leading the way in its uses of CoW.

Grant Category:

  • CoWmunity Growth
  • User interface and User experience (UI/UX)
  • Decentralization

Grant Description:
The proposed COW grant helps to position Swapr to continue to be a strong partner to CoW Protocol and would consist of the following actions:

  • Deeper and continued integration of CoW Protocol into Swapr
  • Implementing the native ETH flow on Swapr’s front end
  • Building and launching a front-end experience for basic Limit Orders based on CoW Protocol
  • Building and launching a front-end experience for TWAP Orders based on CoW Protocol (This will be done using Stackly which is a sub-product of Swapr)
  • Additional promotion of integrations and new features to its communities

Grant Goals and impact:
The goal of this grant would be to add important additional features on Swapr related to CoW Protocol and to drive more awareness and order flow to CoW Protocol.

Grant Timeline:

  • Expected by Q1 of 2023
  • TWAP Orders in Stackly are in line with similar timing
  • Native ETH flow is also dependent on the timing of functionality

Funding Request:

Breakdown for each:
Native ETH flow (50k COW)
Limit orders based on CoW (50k COW)
TWAP Orders based on CoW (Stackly) (100k COW)

Swapr (& Stackly) is also interested in incentive-based volume milestones and is happy to continue working with the CoW team on this.

If appropriate, we could add some one-off volume milestones to this proposal:

Additional Volume Milestones:
First $15M volume: 60k COW
Additional $50M volume: 120k COW
Additional $250M volume: 250k COW
*Volume milestones must be surpassed by December 31, 2023 to be eligible for the additional volume grants.

Budget Breakdown:
The expected plan would be for DXdao to hold COW tokens for governance in CowDAO for the short to medium term. An alternative idea would be to use COW in a liquidity pool on Swapr. Further discussions with the COW team would help define this.

Gnosis Chain Address (to receive the grant):
DXdao Base on Gnosis Chain: 0xe716EC63C5673B3a4732D22909b38d779fa47c3F

Terms and conditions:
By applying for this grant, I agree to be bound by the CowDAO Participation Agreement and the CowDAO Grant Terms and Conditions .

3 Likes
2

I support this application. Swapr will be a strong partner to Cow Protocol.

3 Likes
3

Supporting this application, there has been a good partnership and synergy in the past between Cow Protocol and DXdao, I’m happy to see that going forward with your proposal.

4 Likes
4

We made a post in the DXdao’s community forum around what the next steps for Stackly is.

We have also made the code open source and would love for the community to contribute to the product: GitHub - ImpeccableHQ/stackly: Stackly DCA using COW

A short note on what the next steps are for Stackly for the coming 3 months.

  • Have the contracts audited.
  • Release Stackly 0.1 that will let the user create a stack, view his stacks, manage and cancel.
  • Work on the branding and communications.
  • Review the current UX and spend some time redesigning.
  • Work on the socials and marketing.
  • Reach out to DAOs and treasury managers that are constantly rebalancing their treasury and doing buybacks.
  • Release it as a SAFE app.
  • Integrate with DAVI and build a tight integration to Stackly from Swapr.
  • Fiat on ramp

We would greatly appreciate the community’s feedback to aid our growth and utilize these grants to moo :cow: the product forward.

5 Likes
5

Thanks @0xVenky this is awesome!

I propose to modify this milestone

To include also 5k xDAI reward and make it conditional upon release of functional TWAP safe app with code being open source.
Let me know if that makes sense.

Other than that, would like to indicate my support of this grant!

2 Likes
6

Thanks for all the feedback.

UPDATED VERSION:

Grant Title:
Swapr <> CoW Protocol Support, Integration and Alignment

Author:
DXdao & Swapr (& Stackly)
Swapr’s github: GitHub - ImpeccableHQ/swapr-dapp: Decentralized Application for DXswap
Contact: Sky - DXdao contributor

About You:
Swapr is a fully decentralized, permissionless and immutable AMM and is home to the Eco Router. Swapr is a product of DXdao that owns its own front ends, and is therefore able to provide traders with one of the safest front ends in the web3 environment.

Towards the end of last year, Swapr set-up to become the primary decentralized front end for the CoW Protocol on Gnosis Chain and Mainnet. You can find more details here: Full MEV Protection from CoW Protocol within Swapr’s Eco Router . Though there are a few additional parts of CoW that might have centralized dependencies, having a front-end that is owned by a decentralized entity is quite valuable. Both CoW and Gnosis understand well the importance of decentrally owned front-ends, and the benefits that this brings to your protocol and community.

So far, DXdao and Swapr have been building support for CoW Protocol based on relationship, but better alignment would potentially lead to a stronger partnership. Although this grant proposal is focused on adding new features and future collaboration, it is important to note the alignment of Swapr with the CoW ecosystem during the last year which included integration of CoW Protocol into Swapr’s eco router. Swapr would also be interested in exploring a token swap when appropriate.

Via a COW grant, DXdao and Swapr could strengthen alignment via gaining a voice in CowDAO’s governance in addition to having financial incentive to continue to invest resources into strengthening the CoW ecosystem.

The value that Swapr is adding to the CoW ecosystem can be tied to three of the Grant categories: CoWmunity Growth, User interface and User experience (UI/UX) and Decentralization

Swapr has already integrated CoW Protocol into Swapr’s eco-routing and has been promoting CoW Protocol integration to its wider community.

An additional highlight, DXdao recently altered its DXD buyback program to leverage CoW Protocol driving more DXD order flow to CoW.

DXdao is also a large user of Liquidity Orders on CoW. As a DAO, DXdao has been leading the way in its uses of CoW.

Grant Category:

  • CoWmunity Growth
  • User interface and User experience (UI/UX)
  • Decentralization

Grant Description:
The proposed COW grant helps to position Swapr to continue to be a strong partner to CoW Protocol and would consist of the following actions:

  • Deeper and continued integration of CoW Protocol into Swapr
  • Implementing the native ETH flow on Swapr’s front end
  • Building and launching a front-end experience for basic Limit Orders based on CoW Protocol
  • Building and launching a front-end experience for TWAP Orders based on CoW Protocol (This will be done using Stackly which is a sub-product of Swapr)
  • Additional promotion of integrations and new features to its communities

Grant Goals and impact:
The goal of this grant would be to add important additional features on Swapr related to CoW Protocol and to drive more awareness and order flow to CoW Protocol.

Grant Timeline:

  • Expected by Q1 of 2023
  • TWAP Orders in Stackly are in line with similar timing
  • Native ETH flow is also dependent on the timing of functionality

Funding Request:

Breakdown for each:

  • Native ETH flow (50k COW)
  • Limit orders based on CoW (50k COW)
  • TWAP Orders based on CoW (Stackly) - conditional upon release of functional TWAP safe app with code being open source. (5k xDAI + 100k COW)

Swapr (& Stackly) is also interested in incentive-based volume milestones and is happy to continue working with the CoW team on this.

If appropriate, we could add some one-off volume milestones to this proposal:

Additional Volume Milestones:
First $15M volume: 60k COW
Additional $50M volume: 120k COW
Additional $250M volume: 250k COW
*Volume milestones must be surpassed by December 31, 2023 to be eligible for the additional volume grants.

Budget Breakdown:
The expected plan would be for DXdao to hold COW tokens for governance in CowDAO for the short to medium term. An alternative idea would be to use COW in a liquidity pool on Swapr. Further discussions with the COW team would help define this.

Gnosis Chain Address (to receive the grant):
DXdao Base on Gnosis Chain: 0xe716EC63C5673B3a4732D22909b38d779fa47c3F

Terms and conditions:
By applying for this grant, I agree to be bound by the CowDAO Participation Agreement and the CowDAO Grant Terms and Conditions .

5 Likes
7

In reviewing this, I’m generally in favor of simplifying the use of DCA / TWAP products and integrations here.

I would strongly encourage DXDao to consider using the TWAP contracts that have already been created, audited, and are in production (refer: GitHub - rndlabs/cowswap-twap-orders: 🐄🐮 Time-weighted average price orders for CoW Protocol).

Advantages of using the above contracts include, but are not limited to:

  1. Highly gas-efficient.
  2. Using your stacks, would enable TWAPs such as “trade only on weekdays” (using the span parameter).
  3. Use with Safe as a first-class citizen (with tooling already done and ready for implementation in a dapp, easing the development for the $5K xDAI dapp).
2 Likes
8

Thanks @mfw78 I will pass feedback on to Swapr dev team.

2 Likes
9

also the Snapshot is up here:

https://snapshot.org/#/cowgrants.eth/proposal/0x2b140fefd10b016af4b14bfb7e9be189fd7cb1d598cddfb47d00aa37f4fc564f

Thanks

3 Likes
10

Hey @mfw78

Thank you for suggesting the use of the TWAP contracts. While we appreciate your recommendation, we have determined that it is not benefitial for us to adopt them for the following reasons:

-Our current implementation utilizes EIP-1167, which has resulted in a highly cost-effective solution in terms of gas usage.
-The contracts are already capable of handling “trade only on weekdays” kind of orders.
-Stackly dapp has already been set up to work seamlessly with our contracts.
-Regardless of which contracts we utilize, we will need to audit them even if they already are to ensure the safety and security of our users.

Having said that, we acknowledge the importance of simplifying the use of DCA / TWAP products and integrations. Therefore, we are open to adapting the current TWAP CLI to support our orders, which will enable users to easily use it within a Safe.

Thank you for your understanding and for bringing this to our attention.

@middleway.eth
On another note, due to DXdao restructuring, Swapr is spinning out into its own product line and would love the grants to be sent to this address instead: https://app.safe.global/gno:0x76a48beCaD072b90761859bd2C517A7395775103. Hope it will be okay.

Thanks

2 Likes
11

Just to be absolutely clear, the Safe address Venky posted it’s on Gnosis Chain!

1 Like