Wingriders Weekly Tech Update

- Plutarch + Plutus v2 will be used in the noscripts for the best performance which allows lower fees for most transactions and much better throughput when needed

- We'll be using reference noscripts and inline datums to reduce network congestion so we don't need to provide the same data multiple times throughout the DEX lifecycle, which also improves performance

- Zap-ins and zap-outs for both Constant Product and Stableswap pools

- We've also heavily optimized the pool code itself, providing an additional performance boost

The $WRT Content Program Season 1 ENDS 18th.

You have 5 days to make any submissions.

$WRT will begin to go out next week to those who are successful

Submit your content here: https://shorturl.at/muwK3

WingRiders Weekly Tech Update

The development team added support for staking $ADA in Requests.

This means all Request eUTxOs now carry the user's StakingCredential!

Outside of that, the main focus is on the DEX V2, which development is going smoothly so far

The noise around Cardano is heating up, at Wingriders we have 500+ pairs available so let’s take a spotlight look at some projects by TVL - https://x.com/wingriderscom/status/1792492009795535070

Recently we heard FUD and unbased gossip that Wingriders is not fast, so let’s look at the data.

Speed includes three factors
- Batcher processing capacity
- Blockchain propagation
- Handling peak demand

Here’s a comparison of maximum of transaction the various batchers can handle, to see where we ranked in DEX speed

We scanned the last 10,000 - 26,000 transactions on most popular pools of all AMM DEXes and fetched the maximum number of requests that were batched:

DEX Max Batch Size Tx Sample Size
Wingriders 10 20,000
Minswap 5 10,000
VyFinance 6 26,000
SundaeSwap 3 10,000
SpectrumFi 1 13,000

The numbers show us that WR (in current V1 version) is 2-10x faster than other AMM DEXes for the last 2 years at the batcher level.

Some DEXes are nearing the release of V2, WingRiders included. Let us see how the ranking will look then. We know for our V2 that our speeds will only increase.

Our technical competency and countless ecosystem first innovations displayed in V1 WingRiders still seems to not sink in with some parts of the community. How can we improve these perceptions?

Transactions created by WingRiders’ get propagated on average in 2 blocks. Transactions are executed as fast as the very next block.

Test results from scanning the last 40 swap requests on most popular pools of all DEXes and fetching the execution times of those requests:

DEX + Average execution time in blocks
- WingRiders (1.7)
- Minswap (1.6)
- VyFinance (6.8)
- SundaeSwap (1.4)
- SpectrumFi (0)

Happy Bitcoin Pizza Day 🍕

🚨 Important Update from Orcfax!

After gratefully utilizing @WingRider's Launchpad and Liquidity Pool, we are now preparing to rotate our liquidity to the next Cardano DEX, @Minswap! We are planning to move our ADA/FACT Liquidity from Wingriders to Minswap at the start of epoch 488 (May 29th).

As promised, we will continue offering Yield Farming rewards on both Wingriders and Minswap.

What does this mean?
🔸 Orcfax will continue offering APY rewards on both DEXes to maintain our target APYs as before.
🔸 Expect some fluctuations in APY rewards on both DEXes due to various liquidity migrations.

We will inform the community once the liquidity has been transferred.

Wingriders Weekly Tech update 🛠

The smart contracts are done and have been completed.

As a result of this being achieved, all engineering capacity has moved to the backend and frontend.

We're ready for the audit.

Support our catalyst proposal here: https://cardano.ideascale.com/c/idea/123420

All $WRT rewards for the content program have now been distributed ⚡️

A guide to Open-Source WingRiders Onchain DAO Governance 👇

Here's everything you need to know about how onchain governance works within WingRiders on #Cardano

1/ Context: We have built our open-source, on-chain, decentralized, and auditable DAO governance solution for Cardano.

Our framework empowers projects with seamless community governance, enhancing transparency and trust for any project 🤝

2/ Key Features:
   - No Smart Contracts: Avoids enforced outcomes, allowing manual verification of results for authenticity.
   - Flexible Voting Power Definition: Voting power can be determined by various assets. This caters to diverse requirements and lowers transaction costs.

3/ Key Features (Cont.)  
- External Discussion Platforms: While the system doesn't support on-chain discussions, it enables integration with external community portals for proposal deliberations, enhancing the governance process.

Now let's take a look at the technicals 👀

4/ 3 modules make up the system:
  - Backend - Aggregates DAO governance transactions from the blockchain, validates voting power, and provides data to other modules.
   - Library - Glue between backend/frontend with actions to create/manage and vote with the DAO wallet.

5/  - Frontend SDK - SDK for a React application that provides a set of hooks for fetching data and creating actions

Now you know the what, how and why for our Onchain DAO Governance

You can read more here: You can find all relevant information here: https://github.com/WingRiders/on-chain-dao-governance
 
⚡

WingRiders Weekly Tech Update 🛠

First V2 routed swap executed with both batch transactions chained in the same block ⛓

Request: https://preprod.cardanoscan.io/transaction/e14355dc8d9587f6ae120f6ffd8d62fc0c24c2fce8b136c0b05c784f6a39ec3c

Batch transactions:
1) https://preprod.cardanoscan.io/transaction/722c1dca6d50b911d05c84b89501eb3f178e1d3de110778a066aedff388b4c63

2) https://preprod.cardanoscan.io/transaction/5af2981a8fa3c15f966bd8b79243ee2e0506bd178b7eafae104459825ce864b0

We commend Minswap for their visionary initiative to elevate the Cardano ecosystem by leveraging $ADA in their pools for Catalyst voting.

Together, let’s propel Cardano to new heights!

Let's break down our 'Open-source Hydra Head L2 Web based Explorer and API'

https://x.com/MinswapDEX/status/1801636171379888171

Catalyst Proposal voting begins in 2 days

@Catalyst_onX
propels collaborative innovation to new heights and fuels Cardano ecosystem expansion by connecting people with groundbreaking ideas to a funding source.

This is important to further develop #Cardano and onboard more people.

For this round, we have 5 proposals, ranging from a Hydra Head L2 explorer to our DEX Audit & Bug bounty!

You can check all the proposals and vote below:

MVP: Plutarch DEX DeFi MVP smart-contract functions Audit & Bug Bounty https://cardano.ideascale.com/c/idea/123420
Developers: Open-Source One-Click Wallet Library: No Extensions Needed https://cardano.ideascale.com/c/idea/123360
Developers: Open-source Hydra Head L2 Web based Explorer and API https://cardano.ideascale.com/c/idea/123375
Ecosystem: Production grade code education: Aiken, Plutarch & PlutusTx: https://cardano.ideascale.com/c/idea/123354
Concept: Cardano AI assistant-native language style chain exploration https://cardano.ideascale.com/c/idea/123381

Catalyst voting is live

It’s time for an update, so we aim to launch V2 which will:
- Enhance performance
- Reduce fees
- Introduce/Add new DeFi features
- Increase security

This will be done with an external audit and bug bounties available

You can vote for our Audit here: https://cardano.ideascale.com/c/idea/123420

Here's our monthly overview for June
$6.6M+ in TVL
5 tech updates
1 new partnership
+ Much more

The wingriders continue to rise

You can cast your votes for the proposals using the Catalyst Voting App.

You can now vote on WingRiders catalyst proposals

4 out of 5 proposals are in the top 100 most impactful so thank you to all those who have reviewed us

Voting is now open and you can view our propsoals below

MVP: Plutarch DEX DeFi MVP smart-contract functions Audit & Bug Bounty https://cardano.ideascale.com/c/idea/123420
Developers: Open-Source One-Click Wallet Library: No Extensions Needed https://cardano.ideascale.com/c/idea/123360
Developers: Open-source Hydra Head L2 Web based Explorer and API https://cardano.ideascale.com/c/idea/123375
Ecosystem: Production grade code education: Aiken, Plutarch & PlutusTx: https://cardano.ideascale.com/c/idea/123354
Concept: Cardano AI assistant-native language style chain exploration https://cardano.ideascale.com/c/idea/123381

You can cast your votes for the proposals using the Catalyst Voting App.

Every vote counts! Thank you for supporting our projects. #Cardano #Catalyst