OG Swap EVM&non-EVM to OEC

Inspiration

At this point of DeFi evolution, with a multitude of new competing blockchains, a wide adoption of cross-chain technologies is essential for the synergetic growth of the industry. It would also help to bootstrap the GameFi space by bringing more users, allowing them to easily migrate to new chains providing attractive gaming options, and more liquidity to the GameFi tokens. Users accustomed to using specific chains and having difficulties joining new ecosystems can now become more open to new emerging ecosystems looking into the GameFi area.

However the user experience when operating assets multichain is still extremely complicated. This becomes an insurmountable barrier when it comes to entering new ecosystems for the first time.

Such experience involves utilising different wallets, CEXs and/or DEXs, using bridges, purchasing the minimum necessary amount of tokens for covering fees. Although some steps can’t be avoided, the general flow can be significantly simplified.

In our work we were inspired by the idea of borderless multichain crypto space of the upcoming future and effortless asset management across ecosystems. We were inspired by the proliferation of different DeFi and GameFi apps and non-trivial and exiting gaming mechanics.

We’re motivated by the rapid growth of the OKEX chain blockchain and its ongoing expansion. We believe that the further competitive advantages can be achieved by onboarding users accustomed and loyal to other chains.

We were also inspired and motivated by the idea firstly suggested by Bancor several years ago when they first introduced the concept of the relay token. At the current stage of the crypto space evolution with its actively developing DeFi segment this model has more chances to be acknowledged and adopted.

What it does

OGSwap allows for swapping multiple native tokens to $OKT within a couple of clicks without using bridge infrastructure. It’s a new, alternative way to explore OKEX Chain for the first time to get acquainted with what it’s capable of.

It is pretty straightforward. Let’s use ETH as an example.

When a user from the Ethereum network makes a deposit converting ETH on Ethereum into OKT on Okex chain, a few operations take place:

ETH is sold for GTON on an AMM pool in the Ethereum network.
GTON is immediately locked on a smart contract of the Graviton system (a so-called mirror account).
The oracles notice this event and signal it to smart contracts on OKEx chain. There, in turn, an equivalent amount of GTON is unlocked and sold for OKT in an AMM pool on the OKEX chain.
The purchased native tokens of the Solana blockchain are transferred to the user’s account.

Challenges we ran into:

To create cross-chain oracles system was the biggest issue that we managed to solve.
Deployment of transactions onto the destination chain took more time than we expected.
The integration of the OKEx chain into the product’s envisioned design and architecture was also a challenge.

Accomplishments that we're proud of:

We managed to completely figure out how to deal with the Uniswap design, do the fork of it with 0 commissions.
We've developed the cross-chain oracles ourselves.
We’ve managed to increase the speed of the swaps to from EVM chains to OKEX chain, currently estimated as less than 30 sec.

What we learned:

We’ve learned how to create cross-chain oracles and how to perform cross-chain swaps.
We’ve mastered the design of Uniswap smart contracts , acknowledged their advantages and can extrapolate our experience onto other networks.

What’s next for OGSwap :

Our Roadmap is as follows:

Launch of BETA in Q4 2021
Issuance of the $OGS token in Q4
Advanced tokenomics at the start. Initially boosted liquidity - paired to GTON across all established chains and most popular DEXs
Integration of the fees option: $OGS will be used for paying swap fees
Multichain product at the very start- ported to 6 chains at launch (including Solana). ## What it does