Permaswap Client Goes Open-source To Drive Up User Confidence And Platform Growth

Originally posted here.
By: Adeola

Overview

Permaswap, commonly regarded as the first decentralised cross-chain exchange built on Arweave on Tuesday said it has open-sourced the original code behind the Permaswap Client to build users’ confidence and allow developers to contribute to the growth of the platform. With Permaswap client graphic market-making interface developed by Javascript, users can manage their liquidity share […]

The Post

Permaswap, commonly regarded as the first decentralised cross-chain exchange built on Arweave on Tuesday said it has open-sourced the original code behind the Permaswap Client to build users’ confidence and allow developers to contribute to the growth of the platform.

With Permaswap client graphic market-making interface developed by Javascript, users can manage their liquidity share of Permaswap. Liquidity which can be supplied either by downloading the client or by deploying a node, is managed using the self custody pattern. Some capital is required to be a liquidity provider.

Due to the self-custody pattern of managing liquidity, there is a requirement to import private key when using the client. This may raise asset safety concerns among some users. Permaswap was prompted to make open its client’s code for inspection by users in order to allay fears.

So we open-sourced the original code, you can check the code to see for yourself that this application is safe, we won’t upload or collect your private key. You can use it without having to worry about safety, Permaswap said .

Other reasons behind the open-source move by Permaswap is transparency in the algorithm-calculated order price. The platform expects that making its code public will encourage developers to come up with ideas to enhance and improve the platform.

1/ It’s been two months since the launch of the Permaswap beta version, and now we’ve has decided to open-source the Permaswap Client. As a community-driven project, we want to engage more people with the project.https://t.co/0C8s0ZGX5Y

— Permaswap (@Permaswap) February 14, 2023

According to Permaswap , the client pathway to providing liquidity is better for users without developer experience and it has created a tutorial to help with providing liquidity.

Permaswap said added benefits of Permaswap Client is access to robust data and real-time information which could help with decision making including where to add liquidity, liquidity provider cumulative fee and help track return on investment.

The client provides data visualization of the total liquidity pool and your shares and received fees. That is important for almost every user. It can be used by LP (liquidity provider) exploring advancements in managing liquidity, Permaswap stated.

The move to go open-source comes two months following the launch of the Beta version of Permaswap which was preceded by two testnets. The success stories recorded suggest that there is a huge need for the product. In a report, Permaswap stated that the response from the community to its testnets were “overwhelmingly positive” with user experience, overall product satisfaction and other metrics scoring more than 90 percent.

Encouraged by the feedback from the community, Permaswap said it is driven to proceed to Beta. The Beta version launched in December 2022.

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