Dotswap.org: Asset Hub DEX UI v1+v2 2024 Development+Hosting by MVP Workshop+Colorful Notion

Asset Hub is a Polkadot system chain slated to hold major assets (including DOT, USDT and USDC) in Polkadot’s Minimal Relay Chain architecture, as well the potential developer friendly locus for contract-pallets and consumer-friendly "Plaza".

This proposal concerns dotswap.org, an Asset Hub DEX UI, developed by MVP Workshop with support from Colorful Notion:

MVP Workshop and Colorful Notion are 2 long-term Polkadot ecosystem teams who have worked together successfully this Spring and seek to work together for the rest of 2024. This proposal concerns retroactive funding for dotswap v1 for Q1/Q2 2024, and support for v2 development and hosting dotswap.org for Q3/Q4 2024.

dotswap.org aims to be a full-fledged interface for users to manage Asset Hub-related assets, with key functionality of swapping assets using a new assetConversion pallet on Asset Hub, as well as basic gateway between Asset Hub and the Relay Chain (v1) and major parachains (v2) and Ethereum (via Snowbridge). Following the Asset Hub Vision and the new Polkadot app, we envision dotswap.org to be accessible for everyone, from beginners to lightweight traders rather than just advanced traders and Polkadot experts.

Details

Using the working v1 implementation and v2 mockups, in June a usability testing session was conducted with 15+ members active in the Polkadot OpenGov community. Results are compiled here:

Based on the above user feedback, we have compiled the following roadmap and budget:

Dotswap v1 Feature Summary

The Dotswap.org v1 feature enables a basic asset swap dashboard centered around Asset Hub.

Dashboard

Enables users to see all their assets on Asset Hub and the Relay Chain.

Swap

Enables users to swap assets on assethub with the new “AssetConversion” pallet, and also add and remove liquidity to Uniswap v2 style liquidity pools

Cross-Chain Transfers

Enables users to move assets between Asset Hub and the Relay Chain

Dotswap v2 Feature Summary

The basic functionality is expanded upon in Dotswap v2, summarized below, with much of the functionality below demonstrated in the Dotswap.org V2 Video Overview (with voiceover)

Feature: Foreign Asset Support (WETH/WBTC/…, MYTHOS/…)

Through Snowbridges and standard parachain channels, Asset Hub will have assets from:

Ethereum eg WETH + WBTC + PEPE + SHIB (possible now, tested here)
Any parachain e.g. MYTHOS (possible soon, testing in progress as of July 2024)

The dashboard will simply show foreign assets and enable all the same operations:

Feature: DOT/X + X/USD Graph presentation

Recent swap activity for any assets (measured against DOT or USD) will be accessible from the Swap page and Dashboard page. A third-party API call be used to fetch the graph data, cached from BigQuery / Dune on a regular basis:

Feature: Pool Volume + APY presentation

While liquidity pool providers are a tiny portion of any DEXes user base, they are critical to its healthy functioning. In v2 we add standard functionality to show a liquidity pool provider their Asset Hub pool contributions, their USD value, the recent APR (based on 7d or 30d average activity), TVL, as well as easy access to add and remove liquidity to any pool.

Feature: Info Bubbles / Tutorial Bubbles

To give newbie/non-expert Polkadot users a walkthrough of Dotswap.org functionality, each major section will have a small tour. This is intended to provide users with comfort with Polkadot’s multi chain peculiarities:

Feature: Local Transfer features

To make it easy to send assets between addresses within Asset Hub, the basic transfer functionality of polkadot.js is encapsulated so that “everything can be done in one place”.

Feature: Cross-chain to/from HydraDX + Moonbeam + Mythos

In v2, dotswap will be extended to support cross chain transfers to and from top defi parachains (Hydration [Substrate] and Moonbeam [EVM] + Mythos). Initial viability testing has been conducted already for top assets for Hydration and Moonbeam and will be extended to support Mythos for the upcoming airdrop.

Feature: Asset Admin and Create Pool

Historically, creators/minters of assets on Asset Hub have had to use polkadot.js to create new assets and set up new pools. In v2, dotswap.org will be extended to support all major methods:

assets.create - a user can create a new assetID
assets.setMetadata - a user can set the name, symbol and decimals of an assetID
assets.setTeam - a user can set the issuer, freezer, admin an assetID
assets.mint - if an issuer, the user can mint some amount of an assetID to any beneficiary
assets.burn - if an admin, the user can burn some amount of an assetID
assetConversion.createPool - the user can create a pool for assets where there is no existing pool, and the user has at least some of that asset

For each of the above operations, a dedicated modal will be provided for seamless interaction. While this advanced feature is not for everyone, it is a significant feature of Asset Hub to be able to create new assets, pools and have them be fee-paying.

Requested Funding / Budget

We request 77,903 DOT (est $468.2K based on EMA7 $6.01) for Dotswap v1.x + v2.x through OpenGov with utility.batch in 3 payments: (see preimage)

26,672.21 DOT for dotswap.org for v1/v1.1 (delivered June/July 2024), upon enactment
25,199.67 DOT for dotswap.org v1.2/v2 (delivered Sept 2024), at block 22,773,146 around Oct 1, 2024
26,032.61 DOT for dotswap.org v2.1/v2.2 (delivered Nov/Dec 2024), at block 24,097,948 around Jan 1, 2025

Budget breakdown

Full proposal

Detailed Proposal Writeup.

Key Benefits of Dotswap.org

With OpenGov support of this development plan, Dotswap.org will:

Provide a place for everyone (non-advanced traders) to swap/transfer/create their assets across the ecosystem, starting with Asset Hub and the Relay Chain but to Ethereum (via Snowbridge) and major parachains and then others
Begin to set up a user-friendly destination for lightweight trading for major assets (DOT/USDT/USDC), parachain assets (e.g. MYTH), and user-generated assets

Asset Hub is a special part of the Polkadot system that will hold important digital money like DOT, USDT, and USDC.
Dotswap.org is a website to help people swap and manage their digital assets easily.
There are two versions of Dotswap: version 1 (v1) and version 2 (v2), with v2 having more features.
v1 allows users to see their assets and swap them, while v2 will let users show more asset types and provide helpful tips for beginners.
The creators of Dotswap are seeking $468,200 in funding for improvements and support through 2024.
Their goal is to make Dotswap user-friendly so everyone, even new users, can use it.
The plan includes adding more places for users to send their digital assets in the future.

Source

Asset Hub is a Polkadot system chain slated to hold major assets (including DOT, USDT and USDC) in Polkadot’s Minimal Relay Chain architecture, as well the potential developer friendly locus for contract-pallets and consumer-friendly "Plaza".

This proposal concerns dotswap.org, an Asset Hub DEX UI, developed by MVP Workshop with support from Colorful Notion:

MVP Workshop and Colorful Notion are 2 long-term Polkadot ecosystem teams who have worked together successfully this Spring and seek to work together for the rest of 2024. This proposal concerns retroactive funding for dotswap v1 for Q1/Q2 2024, and support for v2 development and hosting dotswap.org for Q3/Q4 2024.

dotswap.org aims to be a full-fledged interface for users to manage Asset Hub-related assets, with key functionality of swapping assets using a new assetConversion pallet on Asset Hub, as well as basic gateway between Asset Hub and the Relay Chain (v1) and major parachains (v2) and Ethereum (via Snowbridge). Following the Asset Hub Vision and the new Polkadot app, we envision dotswap.org to be accessible for everyone, from beginners to lightweight traders rather than just advanced traders and Polkadot experts.

Details

Using the working v1 implementation and v2 mockups, in June a usability testing session was conducted with 15+ members active in the Polkadot OpenGov community. Results are compiled here:

Based on the above user feedback, we have compiled the following roadmap and budget:

Dotswap v1 Feature Summary

The Dotswap.org v1 feature enables a basic asset swap dashboard centered around Asset Hub.

Dashboard

Enables users to see all their assets on Asset Hub and the Relay Chain.

Swap

Enables users to swap assets on assethub with the new “AssetConversion” pallet, and also add and remove liquidity to Uniswap v2 style liquidity pools

Cross-Chain Transfers

Enables users to move assets between Asset Hub and the Relay Chain

Dotswap v2 Feature Summary

The basic functionality is expanded upon in Dotswap v2, summarized below, with much of the functionality below demonstrated in the Dotswap.org V2 Video Overview (with voiceover)

Feature: Foreign Asset Support (WETH/WBTC/…, MYTHOS/…)

Through Snowbridges and standard parachain channels, Asset Hub will have assets from:

Ethereum eg WETH + WBTC + PEPE + SHIB (possible now, tested here)
Any parachain e.g. MYTHOS (possible soon, testing in progress as of July 2024)

The dashboard will simply show foreign assets and enable all the same operations:

Feature: DOT/X + X/USD Graph presentation

Recent swap activity for any assets (measured against DOT or USD) will be accessible from the Swap page and Dashboard page. A third-party API call be used to fetch the graph data, cached from BigQuery / Dune on a regular basis:

Feature: Pool Volume + APY presentation

While liquidity pool providers are a tiny portion of any DEXes user base, they are critical to its healthy functioning. In v2 we add standard functionality to show a liquidity pool provider their Asset Hub pool contributions, their USD value, the recent APR (based on 7d or 30d average activity), TVL, as well as easy access to add and remove liquidity to any pool.

Feature: Info Bubbles / Tutorial Bubbles

To give newbie/non-expert Polkadot users a walkthrough of Dotswap.org functionality, each major section will have a small tour. This is intended to provide users with comfort with Polkadot’s multi chain peculiarities:

Feature: Local Transfer features

To make it easy to send assets between addresses within Asset Hub, the basic transfer functionality of polkadot.js is encapsulated so that “everything can be done in one place”.

Feature: Cross-chain to/from HydraDX + Moonbeam + Mythos

In v2, dotswap will be extended to support cross chain transfers to and from top defi parachains (Hydration [Substrate] and Moonbeam [EVM] + Mythos). Initial viability testing has been conducted already for top assets for Hydration and Moonbeam and will be extended to support Mythos for the upcoming airdrop.

Feature: Asset Admin and Create Pool

Historically, creators/minters of assets on Asset Hub have had to use polkadot.js to create new assets and set up new pools. In v2, dotswap.org will be extended to support all major methods:

assets.create - a user can create a new assetID
assets.setMetadata - a user can set the name, symbol and decimals of an assetID
assets.setTeam - a user can set the issuer, freezer, admin an assetID
assets.mint - if an issuer, the user can mint some amount of an assetID to any beneficiary
assets.burn - if an admin, the user can burn some amount of an assetID
assetConversion.createPool - the user can create a pool for assets where there is no existing pool, and the user has at least some of that asset

For each of the above operations, a dedicated modal will be provided for seamless interaction. While this advanced feature is not for everyone, it is a significant feature of Asset Hub to be able to create new assets, pools and have them be fee-paying.

Requested Funding / Budget

We request 77,903 DOT (est $468.2K based on EMA7 $6.01) for Dotswap v1.x + v2.x through OpenGov with utility.batch in 3 payments: (see preimage)

26,672.21 DOT for dotswap.org for v1/v1.1 (delivered June/July 2024), upon enactment
25,199.67 DOT for dotswap.org v1.2/v2 (delivered Sept 2024), at block 22,773,146 around Oct 1, 2024
26,032.61 DOT for dotswap.org v2.1/v2.2 (delivered Nov/Dec 2024), at block 24,097,948 around Jan 1, 2025

Budget breakdown

Full proposal

Detailed Proposal Writeup.

Key Benefits of Dotswap.org

With OpenGov support of this development plan, Dotswap.org will:

Provide a place for everyone (non-advanced traders) to swap/transfer/create their assets across the ecosystem, starting with Asset Hub and the Relay Chain but to Ethereum (via Snowbridge) and major parachains and then others
Begin to set up a user-friendly destination for lightweight trading for major assets (DOT/USDT/USDC), parachain assets (e.g. MYTH), and user-generated assets