2024.10 PizzaSwap — UniSat’s first open production experiment

UniSat
4 min readOct 26, 2024

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An Open Production Model

We have made several improvements to PizzaSwap since its launch earlier this month, including:

  • More comprehensive pool statistics, including TVL & Volume
  • Enabled withdrawals through collaboration with partners
  • Enabled FB for swap operations and to pay for gas fees

Last week, we sought community feedback and received a lot of valuable suggestions for improvements to PizzaSwap. Some of which have already been added to our development roadmap and others will be gradually implemented in future updates. Through better communication with the community, we have the opportunity to make UniSat’s development more collaborative and adaptive.

Here’s how we plan to open up our development process:

  • Share product goals and roadmaps more proactively with the community
  • Continue to organize community events to gather constructive feedback and ideas
  • Engage the community for feedback on optimizations of specific features where possible.

Over time, we aim to create a new kind of development model. Under this model, the community are invited to be more involved in UniSat’s product development process, and those who make meaningful contributions can share the value of platform growth.

The First Post-Launch Milestone — LPfest!

We will deliver PizzaSwap’s first milestone — LPfest on November 06, 2024, which includes the first major version update (v1.1) to PizzaSwap since its launch. As the name suggests, this milestone primarily focuses on bringing sustainable rewards to liquidity providers.

In this update,

  • PizzaSwap will open up to all brc-20 tickers on Fractal and allow users to create any trading pair.
  • FB rewards will be generated regularly to specific liquidity pools of FB trading pairs in 14-day epochs.
  • FB rewards is distributed from bc1pd…2pqx3, which is the address of Community Grants (check out the documentation here for more details)
  • In Epoch 1, FB rewards will be distributed to the LP holders of the following two trading pairs: sFB <> sBTC, and sFB <> sSATS.

Future updates will allow users to add rewards for the specific LP pairs, enabling the community to customize incentive models for their favorite assets.

We will also provide improved visualization of LP earnings, giving users an intuitive, real-time view of their rewards from staking LP tokens and from trading fees. (PizzaSwap charges a 0.3% fee per swap, of which 1/6 goes to the maintaining the platform, and 5/6 is distributed to LP token holders)

Stay tuned for LPfest and exciting rewards!

Mid-term and Long-term Goals

In addition to the upcoming LPfest milestone, we’ve also set some medium and long-term goals for PizzaSwap. We’d like to share them and look forward to your constructive feedback.

(Mid-term Goal) Micro-modules: Removing Deposits/Withdrawal Operations

Following PizzaSwap’s launch, we received extensive user feedback noting that the deposit and withdrawal experience felt cumbersome. We’re addressing this with an upcoming version, Swap-v2.

In Swap-v2, deposits and withdrawals will no longer be necessary, user operations will be reduced to the most streamlined, atomic and seamless version. By simplifying the system on a fundamental level, swap users will no longer need to be aware that swap operations occur within a specific module, and more importantly, this update does not change underlying structure of the BRC-20 protocol- all swap operations remain extension command to brc-20, consistent with brc-20 core.

(Mid-term Goal) BRC-20 Swap Module Upgrade on Bitcoin Mainnet

Following PizzaSwap’s launch on Fractal, we aim to take further steps on brc-20 swap module upgrade on Bitcoin mainnet, providing brc-20 protocol with more flexible and robust extension capabilities. We will engage in more in-depth communication and collaboration with partners, including L1F, to ensure that the Bitcoin mainnet swap module operates as safely and reliably as PizzaSwap on Fractal.

It’s worth noting that on the Fractal mainnet, through technical cooperation between UniSat and OKX, the swap module has been running securely across multiple indexing services, effectively maintaining state consistency. The fact that the swap module is operating across various real-world indexing implementations is a strong testament to its stability and reliability. With access to the swap specification documentation and open-source code, developers can independently create swap implementations that are compatible with both UniSat and OKX.

(Long-term Goal) Faster Bridges to More Blockchains

We aim to further enhance the implementation of SimpleBridge by improving its interaction efficiency with the Bitcoin mainnet, reducing asset bridging wait times, and optimizing the user experience. Additionally, we hope to achieve interoperability with various architectures, including EVM, by leveraging third-party bridges like Bool Bridge. We are actively collaborating with experienced teams to integrate their solutions, ensuring that Fractal assets can be transferred across different architectures safely and quickly.

An Innovative Road to the Future

We believe that with continuous product iterations, PizzaSwap can demonstrate its significant value as as an effective, low-cost option to decentralized trading for bitcoin protocols. Following the deployment of more instances to Fractal network, PizzaSwap can become the traffic hub connecting various Fractal instances. With expanded bridging solutions and support for diverse asset protocols and blockchain architectures, PizzaSwap has immense potential to serve as the connector for all Bitcoin and non-Bitcoin architectures, laying a solid foundation for a great variety of future innovations.

UniSat Team

2024.10

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