Assetscooper

Assetscooper

Aggregate low-value assets and swap for a more valuable asset in a single transaction

669
Built at Onchain Summer Buildathon

The problem Assetscooper solves

  1. Wallet Optimization:
    Users sometimes accumulate small amounts of various tokens from airdrops, tips, or previous trading activities. Managing these small balances can clutter a wallet and make it difficult to track valuable holdings.
    Asset scooper aggregates these small balances, simplifying the user’s wallet and making it easier to manage and review their crypto assets.
    Enhanced Portfolio: Using Assetscooper, users can maintain a cleaner and more organized asset, thereby making it easier to track high-value assets. This also helps in maintaining a better overview of the user's overall portfolio.

  2. Gas Fees:
    Executing multiple transactions to individually swap or transfer low-value assets can incur high gas fees.
    By aggregating the tokens and performing a single swap transaction, Assetscooper reduces the overall gas fees, making the process more cost-effective. This will be very significant when deployed on the Ethereum mainnet.

  3. Time Efficiency:
    Manually identifying, evaluating, and swapping low-value tokens can be time-consuming.
    Assetscooper automates this process, saving users time and effort and to focus on other aspects.

  4. Enabling More Trading Decisions:
    Liquidity can be a problem for users who want to engage in on-chain activities like staking, trading memes, etc.
    Using Assetscooper, users are provided with other trading and investment options:
    Defi Options Aggregation -
    We plan to aggregate investment options in DEFI so we can be the one-stop platform to invest in various DEFI protocols.

  5. Improving user's experience.
    Performing multiple transactions to swap an asset for ETH is not the experience users want.
    Using Asset Scooper, we enhance users' experience by allowing them to perform token swaps in a single transaction.
    We will integrate with the Coinbase Smart Wallet which will ensure a smooth user onboarding.

Challenges we ran into

One of the most significant challenges we encountered was with 1 inch. We faced difficulties with token approval and interacting with their smart contracts. The lack of comprehensive documentation exacerbated the issue, making it tough to troubleshoot the bugs we faced.

In addition, we struggled with smart wallet integration due to the lack of support on their Discord channel. This further complicated our development process, as we couldn't get timely assistance or insights from the community.

Thankfully, we found an alternative by integrating with Uniswap. Although this integration required us to meticulously manage the reserve balances with every swap, we overcame the challenge by writing thorough and rigorous tests. Our team's persistence and attention to detail paid off, and we successfully implemented the solution.

Despite the challenges, the experience was immensely rewarding. We navigated through complex problems, found innovative solutions, and ultimately delivered a robust product. This journey not only strengthened our technical skills but also reinforced our resilience and problem-solving capabilities.

Tracks Applied (2)

Coinbase Smart Wallet

Assetscooper improves the Coinbase Smart Wallet's user experience by streamlining asset management and token switching. ...Read More

Trading Track

Assetscooper enhances the trading and asset management landscape in blockchain technology by simplifying the process of ...Read More

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