Today for the first time, the SmartMesh ecosystem cross-chain decentralized exchange DEX project plan was publicly released, together with announcement of VISwap, the Value Internet Swap with official website at https://viswap.io/. VISwap supports exchange, liquidity mining staking and cashing out redemption of respective trading pairs on Ethereum, Huobi ECO Chain (HECO), Binance Smart Chain (BSC), and Spectrum. VISwap plans to aggregate the liquidity of different public chains through cross-chain exchange pool link, so that users can execute transactions for cross-chain assets and realize liquidity for assets across different blockchains.
Henry Wang, founder of SmartMesh, used a new term Token-Switching to describe the exchange model for Value Internet in 2017 and believes that Cross-chain Swap is an indispensable function for the Value Internet.
Recently, the Atmosphere project team has collaborated with JEDTrade to complete the NFT cross-chain function and received an award grant from the Singapore government.
The following are tasks accomplished in the past two weeks:
Specific works as followed:
Announced VISwap, the SmartMesh ecosystem cross-chain swap DEX project (official website address: https://viswap.io/):
- Completed the swap contract code; auditing is expected to be completed soon ; .
- The first phase of HECO swap is expected to be launched and available for beta test by the community in a week.
- The VISwap contract code is released – https://github.com/SmartMeshFoundation/VISwap-Contacts
- The VISwap official website source code is released – https://github.com/SmartMeshFoundation/VISwap
- The original open-source cross-chain distributed notary source code is released –
https://github.com/SmartMeshFoundation/distributed-notary
Specific works as followed:
1.1 Discussed token-economy model for SmartMesh ecosystem IoT initiative. Conducted feasibility study and confirmation on two layer incentives for (1) on-chain IoT data smart-contract transaction and (2) off-chain Photon data transaction in the on-chain and off-chain model, with economic incentive for NFT De-Fi.
1.2 For Photon optimization and layer2 De-Fi initiatives, assessed Layer 2 basic protocols and ecosystem development including pledge retraction game mechanism, multi-sequence and multi-virtual machine design, Layer2 DAO architecture design, etc.
Specific works as followed:
- Atmosphere interoperability and VISwap preparation.
1.1 Updated NFT cross-chain code and analysed related smart-contract architecture. Updated code for NFT cross-chain notary in collaboration with JEDTrade. For cross-chain NFT infrastructure project, analysed blockchain functionality for the NFT protocol framework, including cross-chain NFT asset creation, decentralized transaction and auction, NFT recovery mechanism and DAO governance, etc.
1.2 Conducted preliminary feasibility study for the decentralized cross-chain transaction protocol; analysed the creation of decentralized cross-chain swap and liquidity for multi-public chain assets through Atmosphere, laying foundation for the decentralized transaction implementation.
1.3 For the IoT and edge computing initiative, discussed the main criteria for edge computing application on IoT project; determined use-case scenarios, service models, deployment methods and key technologies for blockchain + edge computing application scenarios, service models, deployment methods and key technologies.
Specific works as followed:
Organized and managed the ecosystem product plan and worked with various departments to execute the plan.
The marketing and business development activities are carried out in a busy but orderly manner as follow:
- Today for the first time, the SmartMesh ecosystem cross-chain decentralized exchange DEX project plan was publicly released, together with announcement of VISwap, the Value Internet Swap with official website at https://viswap.io/. VISwap supports exchange, liquidity mining staking and cashing out redemption of respective trading pairs on Ethereum, Huobi ECO Chain (HECO), Binance Smart Chain (BSC), and Spectrum. VISwap plans to aggregate the liquidity of different public chains through cross-chain exchange pool link, so that users can execute transactions for cross-chain assets and realize liquidity for assets across different blockchains.
Henry, founder of SmartMesh, used a new term Token-Switching to describe the exchange model for Value Internet in 2017 and believes that Cross-chain Swap is an indispensable function for the Value Internet.
Recently, the Atmosphere project team has collaborated with JEDTrade to complete the NFT cross-chain function and received an award grant from the Singapore government.
Next week, VISwap project team plans to launch the first phase of HECO swap and initiate beta testing by the community. VISwap is committed to realizing cross-chain transactions of assets across different public chains by creating a barrier-free exchange and simplifying the processes for transferring users’ assets across different public chains.
The ultimate goal, and the biggest difference from existing DEXs like O3, is that VISwap will support offline trading in the future, allowing exchanges to be truly distributed and integrated with the Internet of Everything. A typical scenario to be supported is what happens when the satellite Internet communication for islands is interrupted, intra-island and potentially inter-island (for nearby islands) transactions can still be carried out within the mesh network. This model needs to be supported by MeshBox’s TEE, which is currently under research.
- After assessing the demonstration of SmartMesh solution in the Singapore Blockchain Living-Labs, a logistics partner of the SmartMesh Ecosystem has proposed a collaboration initiative for implementing a token economy for an island in Southeast Asia. The proposed plan involves issuance of stable coins on the Spectrum blockchain, Space-Ground Integration-Networks (SGIN), supply chain finance, inclusive finance, and IoT. The VISwap decentralized exchange is also in the blueprint of the proposal. The islands represent challenging, but realistic POC sites through which the SmartMesh ecosystem partners will take lead in realizing the Value Internet and Internet of Everything.
