Our core team has been continuously working on fixing bugs and improving the OpenSwap Bridge to ensure that when the product is ready, it will be rolled out in its best possible state.
We cannot stress enough the importance of community members participating in our testnet events, as we found that this is the most effective way to help our developers identify issues. To those who had been helping us out by playing with our crosschain bridge on testnet, we thank you for being a productive part of the OpenSwap community.
In this week’s update, we wish to bring your attention to the upgrades we made to our bridge vaults and the OpenSwap DApp itself. We will also explain what community members can do to help us out, and what to expect in the near future.
What’s New and Why
We have recently deployed a new contract to replace the AVAX OSWAP Vault contract as this will help us better line up vault contracts on other chains. This transition will mean that the old vault will become deprecated, which also means that community members who staked $OSWAP token into the old vault are recommended to migrate their $OSWAP token to the new vault.
Please note that the address of the AVAX mainnet C-Chain Bridge Vault for OSWAP will be changed;
The newly deployed Bridge Vault contract includes enhancements such as the inclusion of a rate limiter to cap the capacity of swaps completed in a specific period, and a SwapPolicy contract to better protect the vault itself and the assets inside.
Additional changes were also made to the OpenSwap DApp and the crosschain bridge vault page to include both the old and new vaults so that users can handle the token migration at ease.
Our frontend team also took this opportunity to make some minor tweaks to the UI; for example, the change of display of vault token (e.g. vt OSWAP). All these changes are done in hopes of an overall improvement in user experience.
What to Expect
We understand that this migration may be a hassle for some community members as it will take a little bit of time, but we will make it up to you guys with more lucrative fixed staking opportunities in the very near future. If community members have any questions regarding the migration process, feel free to give our mods a shout in the OpenSwap community group.
For trolls of you who don’t want to miss out on the next OpenSwap reward opportunity, be sure to follow us closely on social media and stay tuned to our official announcements.
Thanks for now, we go back to buidling the big beautiful bridge.
OpenSwap is the world’s first DEX providing on-chain swaps at zero slippage with hybrid smart routing, and an ANY-to-ANY single asset cross-chain bridge. As the DeFi universe continues to expand, liquidity becomes increasingly scattered across multiple chains and the situation is poised to get worse as new chains emerge with individual DEXs on each chain. OpenSwap aims to become every crypto project’s BFF through a set of key offerings that will empower teams to establish funding and sustained token health, allowing teams to focus on what they do best — BUILD.