Grant: Rango exchange- Multichain aggregator

Name of Project

Rango Exchange

Application type

Grant

Proposal overview

Rango is a multichain aggregator where all bridges & DEXes come together. It finds the cheapest route for swaps across all chains. And you can use all of the DEXes & bridges in one place! We would like to integrate Harmony in our UI and routing service for our next release (November 2021), so users can swap any coins from any blockchain to their Harmony desired coin.
We build and promote our interface which integrates multiple wallets and provides a smooth ui/ux. It does not make sense for users to switch many times between dexes and bridges, each with its own ui, ux. Instead, a unified interface can gain traction.
Furthermore, we provide a routing service and SDK to crypto dapps and interfaces. Multichain wallets like xDefi, Thorwallet, … are key potential customers of this routing API to provide multichain swap service for their users.
We would like to use this funding to integrate and maintain Harmony blockchain into the Rango Exchange UI and Routing Service.

The current state of the project:
Already integrated chains: Terra, Thorchain, Ethereum, BSC, Polygon, BNB, Cosmos, Osmosis, Akash, Avax (New), Sifchain (Soon)
Integrated wallets: Terra Station, XDefi, Metamask, Binance Chain, and Keplr.
We have about 1k users, more than 1million$ transaction value and aim to have 5k active users in short term.

Proposal ask

20,000$

Metrics for success

  • Integration of Harmony Bridge (Supporting swap between Native, ERC20 and BEP20 tokens)
  • Integration of Sushiswap on harmony
  • Supporting Harmony One wallet
  • Supporting harmony on Metamask
  • unify multi step swaps (bridge + swap) into a unified UX without switching between multiple harmony UIs
  • Achieving 10,000,000$ total transaction amount on Rango Exchange.

External links

Project link : Rango.exchange

17 Likes

Having Harmony :harmony: integrated into the Rango Exchange means users don’t have any problem anymore converting their arbitrary coins from different blockchains to harmony coins. No more suffer switching UI multiple times between different bridges and dexes to come into the Harmony world.

Having this proposal implemented, we have a simple answer for all these questions: go to rango!

  • how to swap my bsc coin to harmony?
  • how to swap my ethereum coin to harmony?
  • how to swap my polygon coin to harmony?
  • how to swap my terra coin to harmony?
  • how to swap my thorchain coin to harmony?
  • how to swap my harmony coins together?
  • how to swap my harmony coin to another coin outside harmony?

The key point is that Rango Exchange did integrate several blockchains and wallets so far, so Harmony can connect to all of them by this integration proposal. Hope we see Harmony integrated into the Rango Exchange soonish.

8 Likes

Would love to see Rango and Harmony, that would be a huge benefit for users

4 Likes

I think that Rango is a great project and it’s solving one of the biggest issues which is “routing” in token swaps since a lot of traders are not aware of different routes that lead to the minimum fee. Moreover, they should work with different UIs to achieve what they are looking for.
Rango has already implemented different blockchains such as Terra, Ethereum, Binance Smart Chain, Thorchain, etc so it would be great to add new routes from Rango to Harmony world which is a quite fascinating project. I think Harmony will grow exponentially since they have already implemented the Sharding idea that Eth2 is trying to implement maybe in 2022 but it’s already working in Harmony with 2s block time in the mainnet which is amazing! Soon there will be huge demand from users who are willing to swap their assets into Harmony blockchain to seize the opportunity. Without any doubt, Rango can boost Harmony’s ecosystem by making an easy way for users to move their assets from other blockchains into this new world.

4 Likes

Looks very intresting

4 Likes

Cool. Couple of questions, will you also plan to integrate other bridges or just the main bridge?
I think if you also include terra bridge and other ones, it would be more useful.

3 Likes

Would help bring all world to the harmony🧘‍♂️
ONE to the moon🚀
@Rango_exchange

2 Likes

I would like to know more about Rango community, could please share the socials like Twitter, Telegram, Discord and reddit.

3 Likes

This Integration proposal gained a lot of potential interest from both the Harmony and the Rango communities. Just take a look at this tweet:

Looks promising.

6 Likes

I enjoyed reading through this proposal. Looks very promising! Best of luck with receiving the grant.

4 Likes

Here is our Twitter and Telegram link:
Twitter: https://twitter.com/RangoExchange
Telegram: Telegram: Contact @rangoexchange

4 Likes

Very cool to have this. I use Rango for some of my daily cross-chain swaps, specially BSC <> Terra, and I love to see it for Harmony too, bringing token to harmony is relatively easy right now, but still we should switch between bridge and DEX, rango removes the switching and is much easier, and efficient specially for complex routes.

Just think of:

  • changing Native Luna to UST using Terra swap
  • bridge UST to BSC using Terra bridge
  • swap UST to ONE on BSC using 1inch
  • bridge ONE to harmony using harmony bridge
  • swap ONE to another token using sushiswap on harmony

just with few clicks without any switching between 5 different uis and tracking transaction between 5 different explorers, it will be more than awesome!

Bests for Harmony and Rango

5 Likes

Rango is great. though it’s still in beta, it makes my life so easier. I hope they integrate with more platforms sooner. Specially Harmony

3 Likes

To demonstrate our interest to Harmony blockchain integration, we have implemented the following features:

https://app.rango.exchange

3 Likes

Swap native LUNA to native ONE
Step 1: Connect your wallets

As there is no direct way from Terra to Harmony, you should pass through Binance Smart Chain [BSC]. So you need to connect your Terra Station, A BSC compatible wallet, and Harmony ONE Wallet
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Step 2: choose LUNA on Terra and ONE on Harmony for swapping and type an amount, 0.1 in our case.


Rango will show you the journey. As the picture below shows, you should pass through:

  1. Convert LUNA to UST by Terra Swap
  2. Bridge UST from Terra to BSC by Terra Bridge
  3. Convert UST on BSC to ONE on BSC by 1inch
  4. Bridge ONE from BSC to Harmony

Should I do these steps myself? No! Just click on the “Swap” button.


Rango Smart Routing through 4 DEXes and Bridges

Step 3: Click on the “Swap” button and proceed, your wallets will show you the required transactions one by one, just confirm them, here is the result:


You should have received your native ONE. It cannot be easier!

5 Likes

Wow, this does seem interesting. If it’ll make allow people to make transactions cross-chain less painful, I’m all for it.

5 Likes

@Rango_exchange thanks for your patience. A highly interesting proposition.

Few things come to mind

  • Are all of the swaps done by smart contracts?
  • Is this fully decentralized with no counter party risks?
  • What are the total fees for 0.1 LUNAs to 19.59 ONEs?
  • What are the latencies (to reach finality) to go across from LUNA to ONE?
  • Has this been audited yet?
2 Likes
  1. Most of the time swaps and bridges are executed through smart contracts. There are exceptions like Osmosis zone where swaps are native messages, not contract calls.

  2. We integrate existing solutions and route through them. On the integration side, centralization and risk depend on the underlying bridge or dex. For example binance bridge is a centralized bridge and binance has full control on it.
    On the route-finding algorithms and infrastructure side, as like other router protocols, our backend is not open source. We do rigorous testing and implement tests and checks to make sure that we have correct data and that we are creating the proper transaction. Furthermore, we will be dedicating some funds as treasury insurance in case some transaction fails because of a mistake on our side.

3,4) Current route goes through TerraBridge to BSC and then through Harmony Horizon bridge, fee estimates are about 4$ (0.009 Luna for Terra transaction and 0.005 BNB for bsc transactions). It would take 7 minutes at most.
Once we integrate Harmony side of TerraBrdige, the use won’t need to go through bsc and can directly bridge to Harmony at the cost of 0.5$ and would take 4 minutes at most.

Btw, Rango currently does not charge a fee, the fees mentioned are network fees.

  1. We do not deploy new smart contracts most of the times as the existing contracts can do the required job,. If we decide to deploy any contracts of our own, we will get in touch with auditors.
2 Likes

Will there be an UI change ?, the UI needs some improvements. It is quite hard to navigate

2 Likes

Yes, our UI will be upgraded soon.

3 Likes