The problem GenZSwap solves

GenZSwap is a modern-age decentralized exchange for swapping stable coins on the tezos ecosystem. Six different stable coins have been developed during the hackathon out of which three of them are crypto-backed stable coins and whereas the other three are fiat stable coins. Three different currencies were utilized for pegging the stable coin (USD, YEN and EURO).

Decentralized exchanges such as UniSwap which work on the principle of Automated Market Makers reply on specific functions(x*y = constant) which are good for exchanging normal tokens. In case of stable coins, huge slippage in prices is observed with such functions, even though the value of tokens are equal in the real-world. The availability of tokens in the liquidity pool determines the prices of stable coins.

GenZSwap utilizes different functions ( x+y = constant) which is also being utilized by Curve.fi for swapping stablecoins. In order to incentive users to provide tokens which are scarce in the liquidity pool, Dynamic Fee pricing mechanism is utilized.

Challenges I ran into

1.Developing CDP based vaults for stable-coins which are integrated with oracles.

2.Handling Logic for dynamic fee calculation during exchange of tokens.

3.Optimizing gas fees and minimizing external calls for all the smart contracts.

4. Integration of smart contracts with the front-end of the application.