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BEPSwap Statechain

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Swap any two coins (BEP2 Assets) on Binance Chain using a statechain built with CosmosSDK.

The BEPSwap statechain comes to consensus about events observed on Binance Chain, and then applies logic to these finalised events. Each event causes a state change in the statechain, and some events also result in an output transaction which require assets to be moved. These output transactions are then batched, signed by a threshold signature scheme protocol and broadcast back to Binance Chain.

The BEPSwap statechain can be thought of an elaborate multi-signature wallet on Binance Chain, which has joint custody of assets and strict, deterministic caveats on how to spend. All BEPSwap validators have a co-located Observer and Signer, which together mean they can all agree on what assets they control, what requests for spending are made by users, and how to perform these spends.

Transactions

The BEPSwap Statechain facilitates the following transactions, which are made on Binance Chain, and replayed into the statechain via the Observers:

• CREATE POOL: Anyone can create a new BEP2 Pool
• STAKE: Anyone can stake assets in those pools
• WITHDRAW: Anyone who is staking can withdraw their claim on the pool
• SWAP: Anyone can send in assets and swap to another, including sending to a destination address, and including optional price protection.
• ADD: Anyone can add assets into the pool, which can be claimed by stakers
• GAS: Anyone can add BNB gas to ensure transactions can be processed
• ADMIN: Whitelisted admins can request to change global and pool-based parameters, but majority consensus is required.

The Staking, Withdrawing and Swapping logic is based on the XYK continuous liquidity pool concept.

Setup

Ensure you have a recent version of go (ie `1.121) and enabled go modules

export GO111MODULE=on

And have GOBIN in your PATH

export GOBIN=$GOPATH/bin

Automated Install

To install easily, run the following command...

make setup

Manual Install

Install via this make command.

make install

Once you've installed thorcli and thord, check that they are there.

thorcli help
thord help

Configuration

Next configure your chain.

# Initialize configuration files and genesis file
# moniker is the name of your node
thord init <moniker> --chain-id sschain

# Copy the Address output here and save it for later use
# [optional] add "--ledger" at the end to use a Ledger Nano S
thorcli keys add jack

# Copy the Address output here and save it for later use
thorcli keys add alice

# Add both accounts, with coins to the genesis file
thord add-genesis-account $(thorcli keys show jack -a) 1000rune,100000000stake
rune add-genesis-account $(thorcli keys show alice -a) 1000rune,100000000stake

# Configure your CLI to eliminate need for chain-id flag
thorcli config chain-id sschain
thorcli config output json
thorcli config indent true
thorcli config trust-node true

thord gentx --name jack

Start

There are three services you may want to start.

Daemon

This runs the backend

make start

REST API Service

Starts an HTTP service to service requests to the backend.

make start-rest

CORS Proxy

For making requests in a browser to the API backend, you'll need to start a proxy in front of the API service to give proper CORS headers. This is because CORS support in Cosmos was removed. In the meantime, use cors.io as a proxy.

BEPSwap Observe

Observe events that take place on Binance.

Environment

Please create a config.json file

{
  "chain_id": "statechain",
  "pool_address": "pool address",
  "rune_address": "rune address",
  "dex_host": "testnet-dex.binance.org",
  "observer_db_path": "signerdata",
  "block_scanner": {
    "rpc_host": "binance node host",
    "start_block_height": 34912415,
    "block_scan_processors": 2,
    "block_height_discover_back_off": "1s"
  },
  "state_chain": {
    "chain_id": "statechain",
    "chain_host": "localhost:1317",
    "signer_name": "signer name",
    "signer_passwd": "signer password"
  }
}
You could overwrite the above configs using environment variables as well
Export the following environment variables (set based on your environment and/or the net being used [test/prod]):
```bash
export CHAIN_ID=<chain id>
export POOL_ADDRESS=<pool address>
export RUNE_ADDRESS=<rune address>,
export DEX_HOST=<DEX Hostname>
export BLOCK_SCANNER_RPC_HOST=<RPC HOSTNAME>
export BLOCK_SCANNER_START_BLOCK_HEIGHT=34912415
export BLOCK_SCANNER_BLOCK_SCAN_PROCESSORS=2
export BLOCK_SCANNER_BLOCK_HEIGHT_DISCOVER_BACK_OFF=1s
export STATE_CHAIN_CHAIN_ID=STATECHAIN
export STATE_CHAIN_CHAIN_HOST=localhost:1317
export STATE_CHAIN_SIGNER_NAME=signer name
export STATE_CHAIN_SIGNER_PASSWD=signer password

Development

Setup a local server

make install
make start

Test

Run tests

make test