Multichain DEX Aggregator from Ferrum Network

Secret Contracts and Secret Apps
1

Hey folks! Nick Odio here - Chief Growth Officer at Ferrum Network. I wanted to hop in here and let everyone know that Ferrum is quite keen on integrating our multichain DEX aggregator, MultiSwap, with Secret. I had a great conversation with @Patrick the other day and there seems to be a need for something like this in the ecosystem.

Just to provide a bit of a background on Ferrum, we’ve been around since 2018. Ferrum is one of those rare projects that has not only survived but thrived during multiple bear markets. The main reason for this is because we’ve continued to build products and services that people want, starting with our suite of Staking as a Service products to Iron Vest, a white label linear release and claiming portal. These Blockchain as a Service products have been utilized by over 200 projects across a multitude of EVM and non EVM ecosystems and have allowed us to scale the team to be able to focus on something a bit more ambitious which is ushering in the age of something we’re calling Interoperability 2.0.

Eventually this will include a multichain messaging engine built using Substrate called Quantum Portal that we hope to integrate with appchains in the Cosmos ecosystem such as Secret. However, in the meantime, we would like to kickstart our relationship with the Secret ecosystem by integrating MultiSwap. The objective here is to reduce the layers of friction that exist between users and the Secret ecosystem by providing a seamless way for folks to move assets from a multitude of networks to Secret.

To do this, we will tap into existing DEX liquidity from the likes of Shade and perhaps Secretswap v2 and Blizzard assuming they launch as planned. Since MultiSwap is an aggregator and does not host any of its own liquidity, it will have a positive impact on not only the ability for users to migrate capital to the network but also on pre-existing DeFi platforms, such as the ones mentioned above, by encouraging volume and TVL. So if anyone from those teams is reading this, please reach out to me on Telegram (@cryptodio). Lets talk!

To provide a bit of context regarding where we’re currently at with MultiSwap, we’ve already conducted swaps between Cosmos based appchain Cudos, whom we’ve had a longstanding relationship with, and EVM networks. Meaning altcoins on EVM networks have been successfully swapped from Metamask to Keplr wallets for CUDOS at transaction speed which is pretty exciting to watch! So as you can see, some of the work has already been done on the CosmWasm side so we’re looking to dive deeper into the Cosmos ecosystem and we’d love to pursue Secret next!

We’re planning on applying for a grant to support the development of this integration so we wanted to introduce ourselves and get the conversation started around it.

P.S. In the future, we have a lot more that we can bring to the network such as Iron Vest, our Staking as a Service solutions, and our incubation services for future projects building on the network. And again, the end goal is to integrate our multichain messaging engine, Quantum Portal, with the network… but lets kick off the discussion around MultiSwap to start! Be sure to check out the architecture doc here and feel free to peruse our Github here.

Looking forward to hearing everyone’s thoughts!

Best,
Nick Odio - CGO at Ferrum Network

2 Likes
2

I like what I see here. For the “grant”, do you plan to get funding from SCRT Labs or from the Community Pool?

3

Thats a great question @SecretSaturn! What would you suggest? Regardless of where we get the funding, the scope would be the same and the payment installments would be milestone based and contingent on the associated deliverables and acceptance criteria being met. I wonder if a combination of the two would make sense? Would love to get your insights here.

1 Like
4

The Community Pool stopped funding such projects on Secret Network. Combining Community pool and grants also doesn’t work. I would suggest to ask SCRT Labs for a grant. Can you tell me the rough cost of that proposal?

1 Like
5

Thanks for the info! Good to know. So because we’ve done some of the heavy lifting on the CosmWasm side already, its not going to require as much work as the non EVMs typically would require. For new non EVMs we would be looking at between 2-300k. But for this we’re thinking between 75-150k. I’m thinking it will be closer to the 75k figure than the 150k.

1 Like
6

@SecretSaturn @Patrick

Hey guys! Good news on this. We just had our dev team crunch the numbers on what this integration is actually going to cost us now that we have completed a substantial amount of the heavy lifting on the CosmWasm side of things. It actually came in way less than the figure I was expecting. We can complete the integration with Secret for $40k. Curious what you guys think and what you suggest next steps would be.

7

I’d recommend applying for a Grant here: Issues · scrtlabs/Grants · GitHub

2 Likes
8

@SecretSaturn @Patrick

Hey guys! Just a heads up that we have created the grant proposal which can be found here:

Looking forward to hopefully seeing things move forward! We’re ready to get to work over here.

9

What you did is created a grant request. It’s not an onchain proposal.

10

Thanks for the clarification @thenodefather! Correct. Sorry about the confusion.

1 Like