Launching Combined Swap!
Turning Combined Offers up to 1️⃣1️⃣
Today we are launching Combined Swap, making dexie a liquidity aggregator beyond just combining offers.
Combined Swap not only combines offers, it also aggregates liquidity from additional sources (for example AMMs) from within the Chia DeFi ecosystem, which allows for the exchange of any amount, not bound by existing offers. By aggregating liquidity, dexie can often provide a better price with a reduced price impact compared to relying on a single source of liquidity, especially for larger swaps.
This makes users essentially arbitrageurs, and they can even profit from price differences across different liquidity sources. And it all happens automatically!
Based on Chia Offers
One great thing about Chia offers is that they give users an atomic guarantee, meaning their offered asset is only transferred if they receive the requested asset in return. As a result, user funds can't be lost even in case of interaction with an unsafe liquidity source.
This makes offers a perfect tool for such a service, as there is no trust required in the swap path dexie chooses; the worst outcome is that the offer is not being completed. In such rare instances, the user can easily cancel the offer and try again.
Our first integration, besides dexies offers, is TibetSwap, the first AMM on Chia. We plan to add more liquidity sources as the Chia DeFi ecosystem grows. Combined swap initially supports XCH trading pairs, but we plan to add token-to-token (CAT-CAT) swaps too.
Fees and Liquidity Sources
Combined Swap includes, at the moment, a 1% fee on the XCH amount. Depending on which route is being used, the fee is distributed as follows :
Combined Offers (1% dexie treasury fee)
TibetSwap AMM (1% total fee comprised of: 0.7% TibetSwap LP fee, 0.15% TibetSwap Dev Donation, 0.15% dexie treasury fee)
With the launch of Combined Swap, we are phasing out DBX rewards on combined offers to focus on DBX liquidity incentives, more on that soon.
Let us know in Discord or Twitter/X if you have any comments, suggestions or issues, we are always happy to chat!
That’s it for today, thanks for reading and we’ll see you soon.
