Flype-between
What are we trying to solve?
Let's say you have provided liquidity to the WBTC/ETH pool on Uniswap, and now you would like to move your funds to the DAI/USDC pool, today, you will have to go through the following steps:
Approve Uniswap to expand your WBTC/ETH-LP Token
Withdraw the underlying pair of tokens (WBTC + ETH)
Approve Uniswap to expand your WBTC
Swap WBTC tokens to DAI
Swap ETH tokens to USDC
Deposit the DAI + USDC to the DAI/USDC pool
Flype-between pools in a single swap
With Flype, you can seamlessly move your funds between different liquidity pools and protocols, simply by trading an LP token for another in a single transaction.
It is executed by the following behind-the-scenes actions:
On the WBTC/ETH-LP/ETH pool:
Calculate the Oracle market value of WBTC/ETH-LP.
Fetch the Oracle market price of ETH.
Calculate the WBTC/ETH-LP/ETH exchange rate using Flype's IMM mechansim.
Add WBTC/ETH-LP tokens to the WBTC/ETH-LP/ETH Pool.
Remove the equivalent ETH value in US Dollar terms from the WBTC/ETH-LP/ETH Pool.
On the DAI/USDC-LP/ETH pool:
Calculate the Oracle market price of DAI/USDC-LP.
Calculate the DAI/USDC-LP/ETH exchange rate using Flype's IMM mechansim.
Add the ETH to the DAI/USDC-LP/ETH Pool.
Transfer equivalent DAI/USDC-LP tokens value in US Dollar terms from the DAI/USDC-LP/ETH Pool to your wallet.
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