KIP-80: Smart Margin Account Upgrade v2.0.3

Simple Summary

The proposed enhancement involves upgrading Smart Margin (SM) accounts to incorporate commands that facilitate Uniswap v3 token swaps. Moreover, the integration of Uniswap's Permit2 functionality is suggested to enhance both user experience and security concerning token approvals.

Abstract

These proposed modifications aim to enable users to begin trading on Kwenta using tokens other than sUSD. While sUSD will continue to serve as the base margin asset for interacting with Synthetix PerpsV2, the prerequisite of swapping non-sUSD tokens or ETH to sUSD prior to engaging with Kwenta will no longer be necessary.

The integration of Permit2 functionality facilitates the sharing and management of token approvals across various applications, resulting in a more cohesive, cost-effective, and secure user experience. By reducing transaction costs and enhancing the security of our SM accounts, Permit2 offers improvements in both usability and safety.

Motivation

Optimizing the trader onboarding process on Kwenta holds the potential for wider adoption of the platform. The suggested alterations aim to augment the overall satisfaction of our existing user base by mitigating both the time and cost barriers associated with trading.

Specification

For more information, visit: https://github.com/Kwenta/kwenta-state-log/blob/master/kips/drafts/kip-80.md