Goerli ETH Market

[nambrot]

Suggested Scope:

1. Deployment of Goerli/Arbitrum ISMs on each other (and have them owned by the Abacus Works msig)
2. Deployment of a custom IGP pair for this route that uses static gas oracle values for relaying to start
3. Support HypNative in hyperlane-token
4. Deployment of the warp route contracts (owned by Abacus Works msig)
5. Deployment of the warp route UI
6. Figure out a bootstrapping mechanism for the LP pool of gETH/ETH (which includes possible initial acquisition/LPing)
7. Write content around why this is cool, how hyperlane was uniquely positioned to do this (i.e. fully permissionless, best of both shared and isolated security), what it will mean for developers and the community, etc.

Open questions:

• Ethereum vs. Arbitrum
  • Eth is more canonical, but quite expensive, back of the envelope calculation said that it costs $20 to send a message to Ethereum
  • Arbitrum is cheaper and faster, but folks may need to bridge to Arbitrum first to do the swap

Out of scope:

• A complicated bootstrapping mechanism for the LP pool
• An aggregator like experience where you can swap from any chain with any assets
• A UI that does the swap + transfer in a single UX or TX

[nambrot]

@aroralanuk

[anettrolikova]

Relevant discussion https://www.reddit.com/r/ethereum/comments/ywv6o7/marketplace_for_goerli_eth/

[anettrolikova]

Goerli ETH marketplace https://bigoerlifaucet.com/

[anettrolikova]

Arbitrum
https://defillama.com/chain/Arbitrum -> TVL https://defiprime.com/arbitrum#analytics -> dapps

[anettrolikova]

"what we are building is a marketplace for goerli eth, that could be accessed from either mainnet eth or arbitrum, and allow swaps of eth for goerli eth. we have most of the contract work already done, and deployment needs to happen. " @Skunkchain

[anettrolikova]

buy goerli with eth https://mirror.xyz/0xf3Ae96eF494927cdEdBFe4cEED5671556d4437a6/tiNiX8IC_PP4cp-CdwpiiEQTDluTKQxYyQ6zUlZfRfU

[anettrolikova]

[anettrolikova]

use arbitrum

[aroralanuk]

Sounds good!

[nambrot]

@jmrossy Right now as scoped, we have folks transfer goerli ETH on the warp route UI and then swap on the uni UI. What would you estimate the scope of adding a page to our website that does the transfer and swap? I would suspect that it is pretty involved to get i to the same experience (like 3 days?), but wanted to check with you

[aroralanuk]

I'm using @uniswap-sdk for swapping arbiETH to GETH (our wrappedToken) and then call transferRemote here https://github.com/aroralanuk/faucetful-ui. We can handle the swap but for adding liquidity into the pool, we can link to the uniswap pool UI.

[jmrossy]

@jmrossy What would you estimate the scope of adding a page to our website...

Yeah 3-5 days depending on the details and level of polish needed

[aroralanuk]

• [ ] Deployment of Goerli/Arbitrum ISMs on each other (and have them owned by the Abacus Works msig)
• [ ] Deployment of a custom IGP pair for this route that uses static gas oracle values for relaying to start
• [ ] Support HypNative in hyperlane-token
• [ ] Deployment of the warp route contracts (owned by Abacus Works msig)
• [ ] Deployment of the warp route UI
• [ ] Quick zap widget to swap ETH to GETH on arbitrum mainnet and bridge to ethereum goerli
• [ ] Write content around why this is cool, how hyperlane was uniquely positioned to do this (i.e. fully permissionless, best of both shared and isolated security), what it will mean for developers and the community, etc.