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Cosmos Ecosystem Interface + Sifchain DEX Connector 🔌

We have started this thread to discuss PRP-5658, the Cosmos ecosystem-wide interface (and Sifchain DEX connector), built with Gateway V2 by Pecunia.Finance. These contributions are linked, as we developed the interface to facilitate the Sifchain DEX connector, in the first place.

What is Sifchain?​

Sifchain is a decentralized exchange built with the Cosmos SDK, connecting blockchains together using an advanced bridging technology called ‘Peggy', which enables routing from Ethereum mainnet to Cosmos, then from Sifchain to the other Cosmos-based blockchains via the Inter-Blockchain Communication (IBC) protocol.

Sifchain is preparing to release Peggy 2.0, which improves the design by allowing the bridging of assets more easily across all Ethereum Virtual Machine (EVM), non-EVM, and Cosmos blockchains.

What is special about Cosmos?​

Because Cosmos-based chains are Application-Specific Blockchains, the blockchain and application are usually the same. This is in contrast to blockchains like Ethereum, where applications (such as all the DeFi smart contracts) are on-chain.

Due to the architecture of Hummingbot, Pull Requests must address both the blockchain and application connections. In Cosmos, the chain and the application usually share the same logic.

Improvement Proposal​

Having originally considered only two PR (Gateway+Client), consultation with Hummingbot developers has lead us to adjust to four, a separate PR for each component added:

1️ Cosmos-based Interface which is a scalable abstraction layer of the components used in every Cosmos-related protocol. This interface will facilitate building connectors in the Cosmos ecosystem in the future, for everyone. [Approved]

2️ Sifchain as a Chain, which establishes the Sifchain protocol within the Interface (protocol communication to the Sifchain RPC). [In Progress]

3️ Sifchain DEX as a Connector, to enable the Sifchain DEX Endpoints. [In Progress]

4️ Client Side update, to complete the API which consumes the Endpoints of the Gateway. [In Progress]

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Next Steps​

  • 💬 Monitor and apply community feedback on this post.
  • 📝 We submitted a Snapshot for the first PR on 16/10/22. [Passed]
  • 📝 We are preparing an HIP Snapshot to request funding for the Cosmos Ecosystem Interface.
  • PR 2,3,4 are dependent upon stability in the Sifchain SDK before proceeding.

Resources​

Sifchain DEX

Please note: Pecunia.Finance is available for questions and opportunities to build connectors and more, contact us in Discord (link above) or at pecuniafinancedao@protonmail.com.