Hey CoWMoonity,
Thank you for the opportunity to let us contribute to the CoWswap ecosystem through this grant. Snapshot It’s been rewarding and challenging to bring our project components to completion. We didn’t complete all the milestones that we set out for as we see that we were too ambitious with the volume goals.
We are also delayed by almost 3 months in posting this report on the integration.
To the status of what we achieved during this period:
Native ETH Flow: We have successfully integrated native ETH transactions, where the users will WRAP them to WETH (XDAI to WXDAI) and then use Swapr to place a swap. There is a lot of possibility to make this UX flow better which we are working on, and will be better when Swapr UI 2.0 will be out.
Limit Orders Flow: This feature has been implemented early 2023 and has been part of Swapr for a long time. It’s a simple interface where a user can come in, choose the price to place the Limit order and confirm.
Once its placed, it also gives a summary about the order for the user to confirm. Only drawback, there is no Mooo with Swapr
Building and Deploying Stackly: We’ve developed Stackly, a new dApp aimed at simplifying DCA and programmatic orders. Although the SAFE app has not been officially approved due to not meeting volume milestones, Stackly can be added as a custom SAFE app, allowing users to integrate and utilize it within their workflows. We first had this deployed in Gnosis chain before moving to Mainnet.
The data for Stackly is here at Dune: https://dune.com/stackly/app
Stackly is meant to be an extremely simple way to perform DCA. In the future releases of Stackly, there are conditions that we are bringing in where it will take network and market conditions before every order that is placed. For instance, run DCA on GNO using WXDAI only if the price of GNO is less than 300 XDAI/GNO or run DCA only when the gas is lower than 30 gwei. But before these, we will migrate our contracts from the current version to Composable CoW.
We acknowledge that we did not meet the expected volume milestones set out in the original proposal. We understand the significance of these metrics and are committed to reflecting on our strategies and improving our approaches. We are not asking for any payout for volume based milestones as we didn’t meet any.
In light of the work completed and acknowledging the areas where we fell short, we would like to request partial compensation for the milestones we achieved:
30,000 COW for completing the native ETH flow. We are reducing 20000 COW for the challenges we had with the price discovery and showing CoW as a route with better price and a fair comparison against other aggregators and dexes.
50,000 COW for implementing the limit orders flow.
5,000 xDAI and 100,000 COW for the development and deployment of Stackly.
We are grateful for the opportunity to contribute to the COWswap ecosystem and remain dedicated to its growth and success. We acknowledge our shortcomings in meeting all the proposed milestones, particularly in volume metrics, where we achieved only around 80,000 until the end of last year. However, we are committed to learning from this experience and contributing more effectively in the future.
We will continue to be building products on top of CoWswap as we have some exciting plans for Stackly in the near future.
Some improvements that we have noticed can be done in the native ETH flow, price discovery where its a bit nonoptimal for CoWswap and we acknowledge these and we will fix in the new Swapr 2.0 that we are building (early H2 2024 release)
Thank you for your understanding and support.