MetaDex

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Inspiration

Inspired by the power of meta-transactions

What it does

This project aims to create a gas-less meta transaction DEX that allows for swapping stable coins on the same chain and paying gas fees with stable coins. The platform will estimate gas fees using Chainlink and provide real-time price data. Additionally, users will be able to transfer stable coin tokens to another wallet and pay with a stable coin. The platform will also offer a bridge across chains and an explorer to show all transactions.

How we built it

Frontend apps are the user-facing frontend applications Metadex frontend is the main app for users allowing them to contruct and submit cross-chain swaps on Metadex. Users can also track progress of recent swaps. Metadex explorer is Meson's explorer outlining details of swaps submitted to Metadex protocol, including swap information and step details with reference to transactions on each respective chain. The Metadex explorer is maintained with persistent data storage of all submitted swaps and display them through the explorer user interface.

Users can also search for swaps through the explorer. Relayer is a distributed messaging API service sitting between Metadex app and LP services. Relayer receives initial swap request and following swap release data, performs basic checks and broadcasts to LP services for further processing. It behaves in the similar way to P2P network of Bitcoin or Ethereum blockchains.

LP services are executables that process and issue swap transactions on behalf of LPs. They receive swap data from the relayer, verify checks, process it and post to the respective blockchains. Since LP services are posting the actual on-chain transactions, they will pay gas fees for users. LP services cannot tamper or modify swap data as it has been signed by the user. This service is like the miner program of a public chain. Smart contracts are the implemenatation of Metadex protocol on each blockchain. They will receive swap data, check signatures, and orchestrates the whole Metadex swap process on respective chains.

Challenges we ran into

Planning the whole architecture. This is a really complex project an idea that was materialized from the need to own native currency to pay for gas. Currently I haven't been able to finalize this project, but it has been challenging and interesting so far working on this.

Accomplishments that we're proud of

What we learned

The power of meta transactions.

What's next for MetaDex

I intend to fully develop this idea into a product that will be useful to the blockchain and crypto community at large. This is also a way for me to show my skills as a budding blockchain developer.