TLDR:

1. The Multi-chain DEX: DackieSwap will become Multi-chain DEX

2. The Cross-chain Tokens: DACKIE and QUACK will cross-chain to new chains via Axelar’s Interchain Token Service

3. The Aggregator Integration: DackieSwap will integrate ODOS aggregator as default swap option on target chains to reduce slippage

The Multi-chain DEX

DackieSwap started as a homegrown DEX and Launchpad on the Base blockchain. In just 10 months, we've gone from testing to running fully on Base's main network. Now, we're ready to grow even more by becoming a Multi-chain DEX.

Things have changed. Different blockchains are now closer to each other thanks to bridges that let us move tokens and assets easily and cheaply from one chain to another. We're sure that going multi-chain is the right move for DackieSwap to grow our community and our liquidity.

In simple terms, DackieSwap is ready to grow and connect with more blockchains, and we want our community to come along for the ride. This is a big step for us to become even better in the world of decentralized finance.

The Cross-chain Tokens

One of the challenges of going multi-chain is managing our tokens, DACKIE and QUACK, which are currently emitted on the Base Chain. We won't issue new tokens on the new chains we're launching on. Doing that would break the price connection between chains and wouldn't be fair to those who trusted and held our tokens on Base.

So, we've decided to enable cross-chain movement for DACKIE and QUACK. After researching various cross-chain solutions, we're going to use Axelar's Interchain Token Service (ITS) to move DACKIE and QUACK across different chains.

The original chain where our tokens DACKIE and QUACK are created is the BASE chain. With the Interchain Token Service (ITS), DACKIE and QUACK will be replicated on the target chains. When a user wants to move tokens from BASE to another chain like OP, ITS will lock the tokens in a contract on BASE and then "mint" the same amount of tokens on OP. If someone wants to move their tokens back from OP to BASE, ITS will "burn" the tokens on OP and unlock the tokens that were held on BASE.

We will have a community guide on using the ITS portal, and in the future, it will be integrated with the Axelar SquidRouter bridge to be more user-friendly.

Cross-chain solution will keep our token prices the same on all chains because they can be traded to balance out the prices. For example, if DACKIE's price goes up on the OP chain, users can buy DACKIE on the BASE chain at a lower price and then use the bridge to sell it on the OP chain for a profit.

The Aggregator Integration

Liquidity is our next big challenge as we go multi-chain. Alongside boosting liquidity activities, partnering with new allies to open liquidity pools, and adding rewards to boost liquidity, we will also make aggregators the default option for users swapping on DackieSwap. This improves the user experience by reducing price slippage, ensuring that users get the best possible rates when swapping. Our partner, ODOS, is one of the leading multi-chain aggregators available on many chains today, and we will continue to integrate with them.

THE END

-- DackieLabs --