Description

Hippodrome is the easiest and cheapest way to onramp value to the Polygon network. Hippodrome is specifically designed to allow beginners to transfer value (in the form of BTC and DOGE) from a centralized exchange to their own wallet and start using DeFi. Hippodrome achieves these goals through two approaches. First, Hippodrome presents a simple and instructional UI that walks users through the process of transferring value, explaining in simple English what is happening along the way. Second, Hippodrome minimizes steps by integrating key DeFi tools such as Biconomy, Gnosis Safe, 1inch, and Ren Protocol. For phase 1, users are able to swap DOGE or BTC to a variety of different tokens on the Polygon network. Hippodrome uses a combination of a Gnosis Safe and Biconomy to provide gasless transactions. Ren protocol wraps BTC or DOGE into renBTC or renDOGE and 1inch provides the swap infrastructure. Phase 2 allows users to zap their DOGE or BTC directly into a yield earning product. The first product we support is the SUSHI ibBTC/WBTC pool. We have the front-end code for Phase 2 and the code that actually does the zapping, but did not quite finish combining them for the hackathon. Currently the process takes about an hour, but there is a project called ZeroDAO that will allow nearly instantaneous swaps once their v2 is complete. By streamlining the process of moving value, Hippodrome increases the addressable market of Polygon itself and the DeFi projects building on it.

Hippodrome showcase

How it's made

Hippodrome is mostly a react app and a very small contract to help cleanup dust from swap transactions. When a user connects their wallet to the app, we deploy a Gnosis Safe for them. This allows us to relay transactions, using Biconomy, to the entire network and also batch transactions so there is only a single metamask popup through the entire process. Ren Protocol moves the tokens from their L1 to the Polygon network (in the form of renDOGE, renBTC, etc). We then use 1inch to actually do the swap (relayed through the Safe) and then move all the tokens from the user’s safe into their wallet. All of this is done in a single transaction. Zapping into LP pools is very similar, except we swap the BTC/DOGE for two tokens instead of one and then add the result to the liquidity pool (again all in a single transaction).

Technologies used

1inchBadgerBiconomyBitGoPolygon