SundaeSwap, a decentralized exchange (DEX) on the Cardano blockchain, has introduced a unique model known as the "Scooper" model to enhance decentralization and security in processing transactions. This article will provide a brief overview of what a Scooper is and how the Scooper model contributes to the decentralization of the SundaeSwap platform.
What is a Scooper?
A Scooper is one of the 29 community members elected through an on-chain vote to build and submit large batches of transactions, called "Scoops," on the SundaeSwap platform. Scoopers play a crucial role in aggregating and processing transactions, helping to maintain the decentralized nature of the DEX.
How does it work?
Users pay their funds into a smart contract: When users initiate a transaction on SundaeSwap, they deposit their funds into a smart contract. This ensures that the funds are securely held until the transaction is either executed or canceled.
Smart contracts can be canceled or included in a Scoop: Each smart contract can either be canceled by the user if they decide not to proceed with the transaction, or it can be included in a Scoop—a large batch of aggregated transactions.
Scoopers build and submit Scoops: The elected Scoopers are responsible for building and submitting the Scoops. They combine multiple smart contracts into a single transaction, which is then submitted to the blockchain. In return for their services, Scoopers receive a small fee from each transaction within the Scoop.
What benefits does this have?
Decentralization: The Scooper model upholds the principles of decentralization by distributing the responsibility of building and submitting transactions to multiple community-elected members. This prevents a single entity from controlling or manipulating the transaction process, thereby ensuring the platform remains secure and decentralized.
Robustness: Since there are 29 community members operating the Scoopers, an outage in any one of them doesn't impact the SundaeSwap protocol's ability to execute orders.
Security: Since users deposit their funds into smart contracts, the Scooper model provides an additional layer of security. Users can trust that their funds are safe during the transaction process and can choose to cancel their transaction if needed.
Efficiency: Aggregating transactions into Scoops and having community-elected Scoopers submit them to the blockchain helps improve the overall efficiency of the SundaeSwap platform. This approach allows for faster processing of transactions and optimizes the use of network resources.
The Scooper model employed by SundaeSwap is an innovative approach to maintaining decentralization and enhancing security within the platform. By distributing the responsibility of processing transactions to community-elected Scoopers, SundaeSwap ensures that the platform remains true to the core principles of decentralization. As the DeFi landscape continues to evolve, the Scooper model demonstrates how innovative solutions can be employed to maintain the integrity and security of decentralized platforms.