GLSwaps (Grandma Leveraged Swaps)
Users now have access to spot and perpetual markets from the Uniswap app (app.uniswap.org) using the GLS browser extension routing through GMX as well. This makes the on-chain trading experience as good as Binance unlock huge trading volumes with the slick UX for degens.
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Problem Statement
Leverage on UniswapFrom Uniswap, users can access on-chain perpetual markets. Injecting the smart contracts for derivatives by adding a leverage button and slider. For degens.ProblemIn CeFi there are spot and perp markets within the same platforms e.g. Binance (but not in DeFi)Futures volumes spot vs derivatives are 1-2%, in CeFi itโs 76.1%, there's a huge amount of expansion to go and that's because the futures perpetuals markets are fragmented and unknown.There arenโt integrated spot and derivatives trading in the same platformCrypto users are very sticky to their favourite tools and so we're bringing that experience to them.SolutionA browser extension that lets you swap on GMX perpetual platform from the Uniswap frontend.Set leverage settings fromapp.uniswap.organd execute the transaction which puts in a leveraged trade on the derivatives platform.Get up to 50X leverage going long and short for any tokens offered by both Uniswap and DYDXBy injecting the GMX smart contracts into the frontend of Uniswap, users can trade frictionlessly and get access to greater capital efficiency
Solution
A browser extension that lets you swap on a perpetual platform from the Uniswap frontend.Set leverage settings fromapp.uniswap.organd execute the transaction which puts in a leveraged trade on the derivatives platform.Got price data from 1inch API to swap trades on arbitrumAdded WalletConnect within a chrome pop up to sign into walletSign in through Metamask and accessing the window ethereum object to ensure trades work
Hackathon
ETHGlobal Paris
2024
Prizes
- ๐
๐ ETHGlobal Paris 2023 Finalist
Contributors
- happyhackerbird
13 contributions
- jaimindp
12 contributions
- aliutiev
6 contributions