On September 26th 2023, it was announced that the Minswap Labs proposal for an open-sourced Stableswap built on Aiken was funded in Catalyst Fund 10. Today, we are delighted to announce that TxPipe has commenced the audit of the Stableswap code, along with an updated timeline on the development and launch.
Stableswap Campaign progress
Firstly, from the moment the Proposal got funded, preparations started for the first Milestone: the Education campaign with Cardano Spot. As part of this campaign, several initiatives took place:
- An educational article about Stableswaps and Stablecoins on Cardano on the Minswap Medium
- Another educational article covering the same topic on the Cardano Spot platform.
- A thread written in collaboration with Cardano Spot about State of Stablecoins on Cardano
- A Twitter Spaces discussing the recent developments on Stablecoins in Cardano co-hosted by Minswap Labs and Cardano Spot and with Mehen and Indigo Labs as guests.
Stableswap Campaign timeline
While the Educational Campaign efforts will be ongoing, it’s time to move onto the Milestone: to commence the Audit engagement and address Audit Findings. We are thrilled to have engaged TxPipe for the audit of the Stableswap, one of the key development companies on Cardano that have built blockchain tools such as Aiken. Their audit process involves a thorough examination of areas vulnerable to potential security threats, including those where attackers could exploit the validator’s functions to disrupt the platform and its users. Findings and feedback from the audit is to be communicated regularly to the Minswap Labs team to ensure they are addressed properly and enhance the overall security of the platform.
The process of commencing the Audit engagement and addressing Audit Findings will conclude at the end of December, leading the next Milestone of sharing the Audit Report, open sourcing the contract and conducting the Bug Bounty for the month of January. Afterwards, the Stableswap will be launched (tentatively) on mainnet in February 2024, with an incentive program following in March.