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18 Jul 2022•
2 min read
In this series, we look into what’s possible when projects raise xChain functions to the power of Wormhole.
^ᵂᴼᴿᴹᴴᴼᴸᴱ is pronounced as Raise to the power of Wormhole.
Mayan Finance, which won the Wormhole Award at the Convergence Hackathon back in February 2022, is a cross-chain swap infrastructure that makes Solana protocols accessible to EVM-based chains. Mayan’s goal is to make cross-chain swaps as convenient as native swaps. To achieve this, they allow users to conduct single-click cross-chain swaps.
Mayan built their own bridge, called “Swap Bridge”, on Wormhole’s generic message-passing layer. Currently, Mayan uses the Serum order book to fulfill swap orders and has plans to add more Solana protocols in the near future.
Each message on Wormhole’s core layer has a unique sequence to allow for identifying and tracking individual messages.
First, Mayan’s “Swap Bridge” calls the Portal (Token) Bridge to trigger the token transfer and get the message’s sequence. Then, they put the sequence information into their Swap data structure, along with any other information needed to return the tokens to their owner (what markets are involved, slippage, deadline, fees, etc).
For this to happen, Mayan uses Wormhole’s generic messaging function to create a second message that contains the above-mentioned information plus a reference to the first message (token transfer).
After these two messages are signed by Wormhole Guardians, Mayan relayers will commit the transactions to the Solana network, executing the swap and bridging the output tokens back to the origin chain.
This way, Mayan leverages Wormhole’s composability to execute a cross-chain token transfer while sending the necessary token swap information to Serum’s order book.
Check out this short video from Mayan’s @0xMikeReal showing the final result:
Try it yourself at https://mayan.finance
In the coming months…
⚬ more Solana protocols (Raydium, Orca, Saber,…) will be made accessible
⚬ more EVM and Non-EVM chains will be added
⚬ a full audit will be conducted
⚬ an open relayer platform will be implemented
⚬ a smart router (to find the best cross-chain route) will be added
Have you checked out our Ecosystem page yet? It’s where you can find the hottest projects building on Wormhole! If you’re a builder, submit your project, and let’s create the xChain future together!
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