SigmaSwap

SigmaSwap is an AMM trading and bridging protocol built around LUKSO, running since 2023. It uses Universal Profile as the account entry on LUKSO and an ordinary EVM wallet on Ethereum, connecting the two sides through wrapped assets: native LYX is locked in a contract and an equal amount of wLYX is minted on Ethereum, with the reverse burning wLYX and releasing the native asset.

Swaps and liquidity run on constant-product pools, where LPs earn a share of trading fees, supplemented by a liquidity mining layer. A backend relayer watches source-chain events, validates them and executes on the destination chain, with keys held in HashiCorp Vault, and the contracts are open source and externally audited. In July 2024 the protocol was listed by DeFiLlama as a bridge on LUKSO, with on-chain liquidity in the low thousands of dollars, mainly serving to bring LYX into Ethereum DeFi.