KIP-53: Integrate Socket Plugin

Summary

This KIP proposes integrating the Socket Plugin, which enables seamless multichain bridging and exchanging within KWENTA.

Abstract

Currently, users need to have funds on Optimism or Ethereum to use KWENTA, requiring them to use external parties to bridge between chains, exchange tokens, and deposit into their KWENTA accounts. This KIP aims to eliminate this friction by integrating the Socket Plugin, which allows users to bridge and exchange within KWENTA.

Motivation

The Socket Plugin offers a user-friendly, multichain experience with minimal resource allocation for integration and developer overhead. It currently supports multichain swaps between Optimism, Ethereum, Binance Smart Chain, Gnosis Chain, Polygon, Fantom, Arbitrum, Avalanche, and Aurora in a single transaction. This integration will improve onboarding for users across the DeFi ecosystem.

Specification

Read full details here: https://kips.kwenta.io/kips/kip-53/