Squads x Raydium

We are excited to announce that upon mainnet launch of Squads on February 24th, users will be able to swap assets deposited into the Vault by passing a proposal (Teams) or confirming a transaction (Multisig). Swaps in Squads are powered by Raydium and will allow to swap between more than 600 tokens.

Swaps are seamlessly integrated into the Vault tab and allow any Squad member to initiate a swap transaction for the Squad to approve, which can then be executed directly from the Squads interface, without the need to withdraw funds to an individual wallet at any point in the process.

Key points about swaps in Squads:

  1. Squads uses Raydium’s SDK, which grants access to Raydium’s liquidity pools;
  2. For now Squads supports only single pair swaps (USDC → SOL), with double pair swaps (SHDW → USDC → SOL) coming shortly after mainnet launch;
  3. Receivable asset is eligible for a swap only if it has a direct liquidity pool with a swapping asset;
  4. Every swap triggers a proposal / transaction, since every action within a Squad is subject to a vote / confirmation;
  5. Slippage tolerance in Squads is the difference between the swap’s initial proposed price and a swap execution price;
  6. Once a vote is passed, any member of the Squad can execute a swap.

How it works

The process of executing a swap can be broken down into a few steps. Let’s dive in:

  1. To initiate a swap, user needs to select an asset and desired amount;
  2. After an indication of the receivable amount appears, user chooses a slippage tolerance from the menu or types it into the field (capped at 15%);
  3. Since every action within a Squad is subject to a vote / confirmation, after setting all the swap parameters, a proposal / transaction will be triggered, appearing in the Voting tab;
  4. After the proposal is passed / transaction is confirmed, a swap will become executable. Any member of a Squad can execute, after which swapped assets will appear in the Squad Vault. Note, that if the price goes below the failsafe amount at the moment of execution, it may lead to execution failure.

This integration allows Squads to diversify their assets trustlessly and intuitively. We couldn’t be more excited for it to ship together with our forthcoming mainnet launch.

Stay tuned for more integration announcements!

Where to find us:




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