GNC Grant Proposal: SLP DEX
This is a grant request for $25,000 USD equivalent of eCash to fund the development of a decentralized exchange (DEX) for SLP tokens on the eCash blockchain (eTokens). Having a token exchange would increase the utility value of the eCash blockchain, and by leveraging token bridges, would make eCash users less dependent on centralized exchanges (CEX).
Development would be executed by the Permissionless Software Foundation. They have already recieved a $25,000 grant from Ava Labs to build a DEX on the Avalanche X-Chain. The PSF requests a matching grant from the eCash GNC to port the DEX over to eCash. Here is a video presentation given to ShapeShift DAO about the exchange being built. A proof-of-concept for a trustless, atomic token trade has already been developed, based on Vin Armani's SWaP protocol.
An AVAX investor previously funded the development of this AVAX-to-BCH token bridge, which can easily be adapted to eCash. Combining token bridges with a DEX would allow value to fluidly travel between eCash, BCH, and AVAX blockchains. It would liberate eCash users from dependence on centralized exchanges.
The timeline for this project would be one calendar year. The AVAX DEX started on October 15th, 2021 and completes on October 15th, 2022. The code developed could be ported to the eCash blockchain, with a proposed starting time of January 1st 2022, and expected to complete January 1st, 2023.
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