We’ve previously mentioned that we are bringing Curve Finance’s AMM to our parachain on Polkadot, and now the first batch of code has been submitted for approval.
This is great news — it means we’ve achieved the first of two milestones for our Web3 Foundation Open Grant. This grant funds the development teams that are building the foundation of the emergent decentralized web.
We’ve implemented our initial pools and invariant calculations for Curve, satisfying the first requirement for the grant. Once this progress is approved by Web3, that only leaves the development of the asset exchange. Here’s what you need to know about what we’ve done so far:
- We completed a module design that will handle assets in a new way, using a new assets trait. We have implemented a pool storage structure for handling different asset pools with different parameters.
- We introduced customizable liquidity pools. When users create a pool, they can specify which assets should be in it.
- We implemented a method for invariant calculation. It iteratively calculates Curve’s invariant D and points on the bonding curve with non-overflow integer operations.
Bringing Curve to our parachain will be a boon to the Polkadot ecosystem. Curve’s unique stableswap invariant uses liquidity more efficiently than any other stablecoin DEX. It’s already pushing $4 billion in TVL (total value locked). Since initial liquidity on Polkadot isn’t going to be very large, this kind of efficiency will play an important role in seeing the ecosystem thrive.
Polkadot is Web3’s flagship project, so we’re exceedingly happy for them to be involved in our work. We’re convinced that there is a big, happy synergy waiting to be harnessed between Equilibrium, Curve, and Polkadot, and we can’t wait to show it to the public.