Overview
SushiSwap has created an amazing community, achieved significant market presence, and attracted a large amount of liquidity in a very short amount of time. We see SushiSwap as a testament to the power of blockchains to create and organize new kinds of grassroots-led communities. Moving forward the Sushi community needs to determine how to differentiate its offerings from UniSwap and other DEXes, and how to keep growing the liquidity and user base in an ever-competitive environment. We believe an important part of this strategy should be to expand to other blockchains outside of Ethereum. We already see the beginnings of this strategy in the Serum / Solana proposal. We believe that Polkadot should be a key part of a SushiSwap multi-chain deployment strategy…
Who Are we?
We have been working in the Polkadot ecosystem for well over a year now working on a project called Moonbeam (https://moonbeam.network/). Moonbeam is an Ethereum compatible smart contract platform built on Substrate, that will be deployed as a parachain on both the Kusama and Polkadot networks. Our goal is to enable Ethereum developers to easily deploy existing or new DApps and solidity based contracts with minimal change needed, realizing the benefit of lower gas fees while at the same time providing access to users and assets in the growing Polkadot ecosystem.
A Moonbeam-based Deployment
Moonbeam has a full Ethereum feature implementation including an integrated EVM, Web3 RPC, support for solidity based contracts as well as the Ethereum development toolchain (Truffle, Metamask, Remix) which all work out of the box. The team at Moonbeam is collaborating with Parity on these Ethereum compatibility features including work on the Frontier project. More technical information about Moonbeam can be found here (https://docs.moonbeam.network/) and information about the underlying Substrate framework that Moonbeam is built with can be found on the Substrate website. In addition to the Ethereum compatibility features on Moonbeam, there are multiple bridging efforts underway to bridge Ethereum mainnet to Polkadot which will allow for the movement of e.g. ERC20 tokens to/from Ethereum and Moonbeam.
As an example of how quickly a project can be ported to Moonbeam, the Uniswap V2 core contracts were deployed to the Moonbeam TestNet (Moonbase Alpha) with no changes whatsoever. Moreover, the deployment process was carried out with Truffle, both for the Factory and the Router set of contracts. The Uniswap Interface was successfully ported as well to connect to Moonbase Alpha (using a custom Chain ID).
SushiSwap can leverage Moonbeam’s Ethereum compatibility features to quickly port with minimal effort to Moonbeam, which will ultimately provide access to DOT, KSM, and the many other assets being created in the Polkadot ecosystem and by other teams building on the Moonbeam platform. We expect Moonbeam to be one of the places where assets and liquidity concentrate within the Polkadot ecosystem and we will be building integrations, using the cross-chain integration features on Polkadot, to bring assets from other Parachains in the Polkadot ecosystem to Moonbeam, which would make them accessible to SushiSwap.
Proposal and High-Level Timeline
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The community determines that extending to Polkadot via Moonbeam is a worthwhile endeavor.
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The community grants program agrees on a Sushi Grant to provide an individual or team incentive to port, test, and maintain SushiSwap deployed on Moonbeam.
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The Moonbeam team would provide technical and other support for these efforts.
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First goal would be to have a running deployment of SushiSwap on the Moonbeam Testnet (Moonbase Alpha) that is available now. We anticipate the effort being less around the deployment of SushiSwap and more around testing it to make sure it behaves as expected in all scenarios.
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Second goal would be to have a running deployment of SushiSwap on the Moonbeam KusamaNet. Kusama is a companion network to Polkadot and there will be a Moonbeam deployment on Kusama. The Moonbeam KusamaNet is expected to be live by the end of the year.
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Third goal is to have a running deployment of SushiSwap on Moonbeam MainNet connected to Polkadot. Our Polkadot deployment will follow our KusamaNet deployment after security audits and other reviews have been performed.
Milestone 1 - Deployment to Moonbeam TestNet
The first milestone is based on the deployment of the entire Sushi Swap system to the Moonbeam Testnet. As mentioned before, our Ethereum compatible solution should provide a straightforward porting of the Sushi Swap contract set.
Part of this milestone also includes testing Sushi Swap and all its features, such as:
- Creating pools
- Adding liquidity
- Trade tokens
- Trade tokens with no paired pools, using the Routing unit
- Removing liquidity
- Governance features
We believe that most of the effort will be spent on the testing side of things.
Milestone 2 - Deployment to Moonbeam Kusama
The second milestone is based on a live deployment of SushiSwap to Moonbeam on Kusama. In context, Kusama is a companion network to Polkadot that has the latest code. Code ships to Kusama first and after it has proven itself there, it ships to Polkadot. Kusama is a fully functional, live, and value bearing network.
The Kusama deployment of SushiSwap would be a fully functional live deployment that would get access to KSM and other assets that are on Kusama as the Polkadot-based interop features land there.
Milestone 3 - Deployment to Moonbeam Polkadot MainNet
The third milestone is based on the deployment to Moonbeam on Polkadot MainNet. Code running on the Moonbeam MainNet will generally have been vetted through one or more of the other networks listed before.
Rewards - All split equally between the 3 milestones below.
- For Milestone 1: Grant of 4,000 Sushi from the SushiSwap treasury
- For Milestone 2: Grant of 20,000 Sushi from the SushiSwap treasury. Grant of 25,000 Moonbeam KusamaNet tokens from the Moonbeam Foundation (0.25% of total genesis supply)
- For Milestone 3: Grant of 100,000 Sushi from the SushiSwap treasury. Grant of 25,000 GLMR tokens from the Moonbeam Foundation (0.25% of total genesis supply)
For milestones (2) and (3) we are setting aside an allocation of tokens from our genesis supply of both our KusamaNet and Polkadot MainNet tokens. We leave it up to the Sushi community to determine the best use for these tokens. Some possibilities include using them to compensate the implementation team (in addition to the proposed sushi grants), to reduce adoption friction (pay for end-user fees, via e.g. meta transactions or giving them out to end-users), or to supply bootstrapping liquidity into the initial pools. There is a vesting schedule for the GLMR tokens, 1/24 of the tokens vesting in a linear fashion monthly for 24 months from the launch of our Polkadot based deployment. The KusamaNet tokens will not have an associated vesting schedule.
The Moonbeam team looks forward to working with the SushiSwap community on this project.
- Yes - Deploy SushiSwap on Moonbeam
- No
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