Name of project : (DataX) Support multi network Datatoken swaps/stakes for any ERC20 token - Part1
Website : https://www.datax.fi/
Proposal in One Sentence
Create adapters (smart contracts) to popular crypto DEXs in each supported chain to allow non-OCEAN holders participate in trading and staking their tokens (USDT, USDC, ETH, BNB, MOVR etc.) natively in Ocean’s datapools using DataX
Proposal Wallet Address :
Check out our progress updates from last proposal of Round 10 here
Staging version of Dapp is live here and it works in all mainnet networks as well (Ethereum, Polygon, Moonriver, EnergyWeb, BSC)
We have docs user can refer to for usage instructions - https://docs.datax.fi
We also have demos of what we have built -
- TradeX : Datatoken to Datatoken Swap Video
- StakeX : Staking OCEAN into DataPool
Which category best describes your project? Pick one or more.
Build / improve applications or integrations to Ocean.
Project Description :
Currently, all Trading/Staking dapps on Ocean (incl DataX) only support OCEAN <> DT swaps and stakes. This limits the participation from non-OCEAN holders into Ocean ecosystem. This is a trillion dollar opportunity that we as Ocean ecosystem are missing out on. But what if we could provide a way to onboard these new participants by natively building seamless integrations and bridging non-OCEAN tokens to Ocean ecosystem. This unlocks a new potential especially when we know that Data Farming will open flood gates and create FOMO effect.
DataX is inclined to built and integrate this tooling natively into our platform.
Current architecture of OCEAN< >DT & DT< >DT Swaps on DataX
New Architecture that this proposal is trying to introduce to allow ETH <> DT swaps (and other non-OCEAN tokens)
As part of this proposal -
DataX will create smart-contracts (called adapters) to various DEXs (like Uniswap, Quickswap, Carbonswap, PancakeSwap etc.) for each supported network which Ocean Protocol supports. At the time of writing, the supported networks are -
These contracts are necessary to be able to swap/stake any ERC20 token (ETH, USDT, BNB, MATIC etc.) with OCEAN token to facilitate Datatoken trade.
What problem is your project solving?
DataX 's vision is a one-stop shop for all Data DeFi needs. We are helping to make data a liquid asset.
With TradeX, we are creating platform for buying, selling and trading datasets using any token (roadmap). With TradeX nearing launch, we want to create a detailed documentation on usage of this platform especially around how one can swap datatokens <> datatokens. And how one can switch between networks and use datapools published in other networks. We are also looking to provide multinetwork support (including Ethereum, Polygon and BSC).
With StakeX, we will create a unified staking, unstaking solution with added signals that allows users to stake/unstake ocean tokens in data pools. This product will play a significant role when data farming initiative is launched. Currently, Ocean Market and ocean.js puts restriction on % that you can stake and unstake on data pools. We dont have any such restrictions on StakeX, so users can freely stake/unstake tokens.
There are many more DataFi products that is planned in our roadmap.
Follow us to find out more -
What is the final product?
Web based Platform + APIs + Documentation
How does this project drive value to the Ocean ecosystem?
Explained in detail above in Problem being Solved section. But tl;dr this project will help with -
- Increase no. of daily active users on Ocean Protocol (via clear docs for TradeX)
- Increase TVL (via intuitive staking using StakeX)
- Vastly improve user experience for buying, selling, stacking and trading datasets (TradeX)
- Increase daily trading volume (TradeX)
- Generate revenue for Ocean community (by % cut that Ocean Protocol charges for consumes)
Project Deliverable - Build / Integrate
Using this grant, we will build following features and artifacts -
DEX Adapters (Solidity Smart Contracts) are created
These adapters support 5 networks (as mentioned above) that Ocean Protocol supports
These adapters smart contracts are deployed in all 5 networks supported by Ocean Protocol
Thoroughly test these smart contracts to rule out bugs and avoid hacks
Manan Patel, Founder + Project Lead at DataX Finance
Keith Frazier, Lead Developer at DataX Finance
- Github - https://github.com/keithfrazier98
Alexey Orlov, Blockchain Lead at DataX Finance
- Github - https://github.com/0xMageX
Akanksha Trambadia, Project Manager at DataX Finance
Abhijeet Singh, Marketing & Community Lead at DataX Finance