SaSi Protocol

Participant of protocol list
Liquidity list CBDC x RWA pool
Protocol Tokens
RWA Tokens list from Brazil to swap
CBDC list to swap
CDBC balance before the swap
Swap processing
Transaction success
CDBC balance after the swap
Transaction swap on explorer

Inspiration

We are inspired by the possibilities that the blockchain technology brings to transaction related products. We consider it as the next generation of payment and financial services globally.

What it does

SaSi protocol is a Dex to CBDC and RWA assets that enables swaps with Brazilian Government Bonds initially. It can bring use cases at a global scale to Ripple CBDC customers and provide even more liquidity to Brazilian Government Bonds. Bonds were elected as "the asset" initially due to local government interest in tokenized Bonds. Local Brazilian Government Bonds market size was U$ 900 Million in 2022 The protocol also enables traceability of such tokens in the secondary market, which is an important requirement for governments. Permissioned wallets were defined as the ones with access to such opportunity, it improves risk management and brings more transparency to the process.

How we built it

Observing market necessity towards CBDC usability and local Bonds distribution.
We used XRP ledger Side Chain and Uniswap fork to implement the contracts, performing the necessary changes to allow its main transactions. We have implemented ERC1155 tokens allowing Bonds tokenization and ERC20 tokens to allow the swaps between them. Even though we selected Bonds as the main asset to be swapped with CBDCs, our permissioned protocol allows swaps of any ERC20 tokens in the market.

Challenges we ran into

This implementation was a challenge when it came to allow swaps of tokens ERC1155 to ERC20, because this is not part of the Uniswap code environment it was definitely the biggest challenge.

Accomplishments that we're proud of

Our team's dedication to our product is a point of pride, particularly its Indian name 'SaSi,' ingeniously combining Moon (name meaning) with Satoshi's innovative legacy, embodying the blend of celestial inspiration and advanced technology.

What we learned

Work with Side Chain is faster and cheaper
We discovered that treasury bonds are strong assets for tokenization, addressing inefficiencies in the secondary market.
We know how Uniswap works

What's next for SaSi Swap

Connect the solution with bridge CBDC Solution on XRP Ledger
Offer the collateral feature, where the client can use RWA assets to loan CBDC globally.
Local connection with Drex Platform (Brazilian CBDC)