Thread by @Starknet_OG

GM #Starknet boys 🐺💫

Today's presentation is about @FibrousFinance, which just launched its public #testnet!

Fibrous is a DEX aggregator built on StarkNet.

But, first of all, what is a DEX aggregator ? 🤨

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A DEX aggregator is a protocol that allows traders to access multiple liquidity pools through a single interface. The goal is to provide more liquidity than a single DEX in order to obtain a better exchange rate.

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To do this, the aggregator will scan the liquidity and exchange rate from multiple DEX to get the best possible price to execute an order.

By definition, a DEX aggregator is, therefore, a liquidity aggregator 👨‍🏫

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Thus, Fibrous' mission is to connect all #StarkNet AMM allowing users to have access to the total AMM liquidities in one place 🧑‍🏭

So, we can expect Fibrous to be connected to all StarkNet AMM like:
👉@JediSwap
👉@SithSwap
👉@alpharoad_fi
👉@mySwapxyz
👉@starkswap

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Thanks to Fibrous, users will no longer have to manually search and try orders on several AMM to find the best exchange rate; Fibrous does it manually and more optimally 🤖

Indeed, for the same order, Fibrous will :

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1⃣ Fetch liquidity from several different AMMs.

For example, to swap 10ETH against DAI, Fibrous will:
👉Swap 4ETH on JediSwap
👉3ETH on SithSwap
👉1ETH on mySwap
👉2ETH on Alpha Road

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2⃣Go through intermediate crypto if the ratio is better.

For example, for 10ETH, Fibrous will:
👉Swap 4 #ETH against DAI
👉Swap 4ETH against #BTC, then BTC against DAI
👉Swap 2 ETH against #STARK, then STARK against BTC and finally BTC against DAI

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To operate, Fibrous will use a price exploration and routing algorithm to calculate and obtain the best possible swap rate to a given pair across all StarkNet AMM.

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Then, Fibrous will take the input asset and split it through several routes and different pools to get a more significant amount of output assets through its order routing algorithm.

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So, to summarize, Fibrous will scan the liquidity of all StarkNet AMM and calculate the best exchange rate by dividing the input liquidity across all of these AMM.

The result is time and money-saving for users! 🥰

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Let's move on to the #testnet to see how it looks in practice 🧪

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Step 1: Wallet 💳

First, you need to install and configure a wallet that supports StarkNet. You can choose between:
👉@myBraavos : braavos.app
👉@argentHQ : argent.xyz/argent-x/

Both are very good, download one (or both to try) and add it to your browser.

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Step 2: Test tokens 💰

Start by claiming some #ETH. A small amount is enough, they will just be used to pay the gas fee.

To claim them, go to: faucet.goerli.starknet.io, enter your address in the bar, and solve the captcha.

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The other tokens needed for the testnet can be minted directly on the Fibrous website:
👉testnet.fibrous.finance

Connect your wallet, click on "Mint," and validate the transaction.

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Step 3: Make swaps💱

Make swaps between the different pairs and in both directions:
👉fETH - fBTC
👉fETH - fDAI
👉fBTC - fETH
👉fBTC - fDAI
👉fDAI - fBTC
👉fDAI - fETH

You can try all pairs with small and large amounts to check if everything works correctly

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To do so:
➡️(1) Choose a pair
➡️(2) Enter the amount you want to swap on the input asset
➡️(3) Click on 'Swap'
➡️(4) Check the path taken by Fibrous to obtain this exchange rate

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Step 4: Enjoy & feedback ✍️

Fibrous doesn't have a Discord yet (when Discord sir
@FibrousFinance), so we'll probably have to wait until it comes out 😉

However, you can send them a mail if you've identified an issue or have any questions:
👉[e-mail] 🧑‍🔧

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I hope you enjoyed this presentation, and I'll see you soon for a new one 👀

Want to know more ? 🥹

Useful links not mentioned in this thread:
👉Website: fibrous.finance
👉Medium : medium.com/@fibrous

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