Swingby December 2021 Team Updates

Happy 2022, Swingby community! We hope you’ve had a good start to the year so far 🥳

As the last month to complete 2021, December has been an action-packed month for us. Despite the holiday season, we’ve been busy shipping things, both on the development and the community front.

SkyBridge BTC LP APR Boost 👨‍🌾

In December, we increased the rewards for Bitcoin liquidity providers on Skybridge by 25%, reaching around 17% APR at the time of writing. This is so that we can create optimal liquidity on SkyBridge and an optimal swapping experience on SkyPools when it launches.

With this APY Boost, you can now earn higher APYs on your Bitcoin in a trustless and secure manner on SkyBridge. If you’re a Bitcoin hodl-er, go ahead, stake your Bitcoin and earn those yeidlds today!

December Dev Updates 🛠

Despite December being a month of holidays, the development team has been busy building and shipping away.

On the SkyPools front, this is what we’ve worked on:

  • Release SkyPools on Ropsten Testnet
  • Released new SkyPools UI: https://skypools.swingby.network
  • Added limit on the number of loops to clean up SkyPools pending transactions & optimize gas costs
  • Added multiRecordSkyPoolsTX function and tests
  • Taproot branch is ready for merge

On the DAO front (which we’ll elaborate more below), we have been busy upgrading the platform to include Metanode staking.

  • Added Metanode staking on the DAO UI
  • Reduced current Metanode unbonding period temporarily from 30 days to 1 day via software update (This is to help Metanode move to ERC-20 and stake on the new UI. The unbonding period will be reverted to 30 days after the successful transition. More information will be shared shortly.)
  • Deployed DAO UI on Fleek (Dapp Hosting Service)

SkyPools Testnet Launch & Giveaway 🚀

Finally, after months of talking about SkyPools, we were so happy to finally launch the SkyPools Testnet on the Ropsten network. To celebrate this milestone, we put together a giveaway of a total of 100,000 $SWINGBY to our community.

Over the course of 2 weeks, we have received over 3,000 transactions to the SkyPools contract, and over 800 submissions for the giveaway. Thank you so much for your help testing SkyPools with us!

From these 800 submissions, we have also successfully drawn 20 winning entries. Congrats to the winners — we‘ve airdropped 5,000 $SWINGBY for each winning entry! If you received a DM from us but have not received your airdrop, do let us know and we’ll look into it.

Thanks to all your help, we managed to get high volumes of transactions interacting with SkyPools and there were no major security and smart contract issues. That said, we have identified a couple of issues and have been fixing them accordingly. Over the next week, we will be re-deploying the smart contracts with the fixes soon on Ropsten.

SkyPools: Road to Mainnet 🧱

Naturally, the next question is — wen mainnet?

As a team, we are happy with how successful the SkyPools Testnet went and we do not think we are far away from a Mainnet Deployment. Over the next couple of weeks, we will be running further tests and final checks before preparing for deployment on Mainnet.

If there are no further delays or mishaps, we should see a Mainnet deployment of SkyPools in February 2022.

Let’s DAO it together in 2022 🤝

In the first article of our article series, we talked about Swingby’s vision for the multi-chain future and the values we live by:

  1. Trustless 🗝
  2. Simple to use ✨
  3. Community-owned 💎

“If you want to go fast, go alone. If you want to go far, go together.” — African Proverb

As we look back on 2021, we went fast, but alone to ship our Product. Within a year, we launched SkyBridge and completed SkyPools (to launch in 2022). We lived by our values of creating something that is Trustless and Simple to use.

Looking forward at 2022, we want to go far, together with you. That’s why, we’re happy to share that Swingby will be evolving into a DAO in 2022, helping us double down on our last value (Community ownership).

It wasn’t easy keeping this under wraps (we’ve been dropping hints on Twitter & dev updates) as we’re really excited about involving the community to achieve our vision together. To kick off 2022, we will be setting up the DAO and announcing more details in the coming weeks. Do look out for an announcement post dedicated to Swingby’s DAO soon!

Once again, we’re really excited to DAO this with you & hope you join us on our journey in 2022.

LFG 2022! 🚀

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Swingby Protocol

Swingby Protocol

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The fastest protocol for cross-chain swaps, allowing DeFi users to move assets between blockchains without the need for a trusted party. https://swingby.network