OTC TokenSwapper

Where is the official deploy at?

Audits

Consensys Diligence https://diligence.consensys.io/audits/private/chl9kaod7d8tlq
KeySecurity - gkrastenov https://github.com/gkrastenov/audits/blob/9ec0d368833c67231b953ea9efc193a55de826b1/solo/P2PSwap-Security-Review.pdf

Previous versions:

NB: The deploy at 0xb9ec645254457ad5a07a100ca150006aac97d24e has been replaced post the Diligence Audit for sending ETH in a push method vs. pull - technically it is still sound to use if preffered

NB: The deploy at 0x5343B7751483F60714Dc237d88f796b8023b529E has been replaced as it didn't support USDT, NFTs with id=0, and has a potential issue on open swaps where ETH was allocated incorrectly

Current version:

If you wish to use the currently deployed app with the new features: p2pswap.app p2pswap.eth.limo

Verified contracts on Etherscan - Ethereum Sepolia:

https://sepolia.etherscan.io/address/0xF1c35b66F6B94Cb3f7a5004342300F6f7d4edbbd#code

Ethereum Mainnet:

https://etherscan.io/address/0xF1c35b66F6B94Cb3f7a5004342300F6f7d4edbbd#code
This is registered at: p2pswap.eth, swapp2p.eth and p2pswop.eth

Verified contracts on LineaScan - Linea Sepolia:

https://sepolia.lineascan.build/address/0xF1c35b66F6B94Cb3f7a5004342300F6f7d4edbbd#code

Linea Mainnet:

https://lineascan.build/address/0xF1c35b66F6B94Cb3f7a5004342300F6f7d4edbbd#code

Ok, so what is this Token Swapper thing?

In our examples we will use two people who want to swap or sell their Token(s) directly to someone with the security of a fee-less impartial escrow contract. For the explanation we will denote the two parties with the following:

pI (person I for initiator) - the party that initiates the swap
pA (person A for acceptor) - the party that completes the swap

These two parties find themselves chatting across various communities, Reddit, Discord, X (Twitter), Farcaster, Telegram, whatever, and decide they want to swap Token(s) at whatever details they agree on.

Note: Open Swaps are also available and are discussed further down.

How many flavours of swaps are there?

The Token Swapper is a way for two parties to:

Sell ERC20s (or their variants, 777, xERC20 etc - just set ERC20) for ETH.
Swap ERC20s for other ERC20s, an ERC721, or a quantity of an ERC1155 tokens.
Sell an ERC721 for ETH.
Swap ERC721s for ERC20s, an ERC721, or a quantity of an ERC1155 tokens.
Sell one or more ERC1155s for ETH.
Swap a quantity of an ERC1155 token for ERC20s, an ERC721, or a quantity of an ERC1155 tokens.

Note: USDT is now supported due to the SafeERC20 library used from OpenZeppelin.

All token swaps can optionally include ETH on either the pI's or pA's side. e.g. My Pudgy Penguin for 3000 DAI and 1 ETH, or 10 of my ERC1155s Id=1 and 0.5 ETH for your Lazy Lion.

Do I make fees or commission or anything on swaps/sells?

Nope, nada, zilch, nothing, diddly squat - I get nothing out of this. So why did I set this up? This is because a) I can, b) I want people to have a way to swap more easily than paying crazy fees to swap, or having to go through tons of hoops to get it done without having to trust people will just send them the token(s) - no more trust me bro, I will send it to you after.

Can I upgrade or make changes to rug?

Nope, the contract is not upgradeable and has no owners, everything is based on swap configuration and whoever interacts with the contract. The only thing I can do is deploy new contracts (at my own expense) and change the UI to point to it. There is nothing stopping you using the older versions should you prefer to.

Why the two variants? NonCancun?

There are some L2 chains that currently don't have features such as transient storage (which is used to save gas and increase security) and support for them is included as the additional gas on an L2 costs fractionally less, so there is less concern there, and functional parity is paramount.

But bro, does it use a ton of gas?

I have spent a lot of time and effort trying to tweak the gas to be as minimal as possible while optimising for functionality.

|  Contract               ·  Method             ·  Min        ·  Max        ·  Avg        ·  # calls      ·  usd (avg)  │
··························|·····················|·············|·············|·············|···············|··············
|  NonCancunTokenSwapper  ·  completeSwap       ·      76833  ·     116828  ·      99074  ·           30  ·          -  │
··························|·····················|·············|·············|·············|···············|··············
|  NonCancunTokenSwapper  ·  initiateSwap       ·      59358  ·      60028  ·      59677  ·          104  ·          -  │
··························|·····················|·············|·············|·············|···············|··············
|  NonCancunTokenSwapper  ·  removeSwap         ·      29124  ·      37273  ·      30762  ·           15  ·          -  │
··························|·····················|·············|·············|·············|···············|··············
|  TokenSwapper           ·  completeSwap       ·      69112  ·     112673  ·      93557  ·           31  ·          -  │
··························|·····················|·············|·············|·············|···············|··············
|  TokenSwapper           ·  initiateSwap       ·      59317  ·      60007  ·      59669  ·          105  ·          -  │
··························|·····················|·············|·············|·············|···············|··············
|  TokenSwapper           ·  removeSwap         ·      26751  ·      35214  ·      28447  ·           15  ·          -  │
··························|·····················|·············|·············|·············|···············|··············

Some tweaks:

Assembly hashing
Storing less on chain to reduce SLOAD and SSTORE costs
L1 Transient Storage
viaIR compilation
deleting on swap completion (saves a little gas and increases security)

How do you set up a swap then?

After discussing agreed terms, pI will set up the swap with those terms.

Super important note for pI: If pA doesn't accept the swap, pI can always retrieve their sent ETH if any and remove the swap. (removeSwap function)

pI interacts with the swapper contract and gives the following information: (initiateSwap function)
- Swap expiry in the future to prevent later concerns
- pI's Token Contract address (if not ETH only on pI's side, zero address otherwise)
- pI's Token Type (use NONE for ETH only on pI's side)
- pI's Token Id (if not ETH only on pI's side, zero otherwise)
- pI's Token Quantity (if not ETH only on pI's side, zero otherwise)
- pI's address (this is automatic as msg.sender, so you could do this with a contract/Safe supporting relevant NFT interfaces)
- pA's Token Contract address (if not ETH only on pA's side, zero address otherwise)
- pI's Token Type (use NONE for ETH only on pA's side)
- pA's Token Id (if not ETH only on pI's side, zero otherwise)
- pA's Token Quantity (if not ETH only on pI's side, zero otherwise)
- pA's address (Optional if not an NFT - allows anyone to accept the deal)
- Optional: ETH to sweeten the deal (Required if ETH only on pI's side)
- Optional: An ETH value that pA is expected to sweeten the deal with (Required if ETH only on pA's side)

Only one side can sweeten the deal as you might expect, it would be silly otherwise

Struct definitiona from ISwapTokens.sol

  struct Swap {
    uint256 expiryDate;
    address initiatorERCContract;
    address acceptorERCContract;
    address initiator;
    uint256 initiatorTokenId;
    uint256 initiatorTokenQuantity;
    address acceptor;
    uint256 acceptorTokenId;
    uint256 acceptorTokenQuantity;
    uint256 initiatorETHPortion;
    uint256 acceptorETHPortion;
    TokenType initiatorTokenType;
    TokenType acceptorTokenType;
  }

pI and pA check the collection(s) and tokenIds are correct.
Both pI and pA approve the Token Swapper contract on their respective Token Contracts (so the contract can swap them at the same time of course).
pA passes the swapId and swapdetails` into the contract to check if the following holds true (before spending and wasting gas accepting).

a. pI still owns the Token(s) being swapped if any.

b. pA still owns the Token(s) being swapped if any.

c. The swapper contract has approval for pI's token.

d. The swapper contract has approval for pA's token.

e. The deal has not expired.

Note: The UI does this for you, but if you interact directly with the contract, you would do this.
pA accepts the swap (sending ETH if the swap is expecting pA to sweeten the deal) and boom, the Token(s) change owners. (completeSwap function)
If pI or pA sweetened the deal with ETH, pI or pA will automatically be sent their ETH portion.

At this point it is important to note that the Swapper contract immediately loses approval for the ERC721 Token(s) because they have changed ownership unless you manually did an approveForAll. The same goes for the ERC20 variants if you only set the allowance to the swap amounts.

If the deal has expired and pI put ETH in, they can retrieve their balance by removing the swap withdrawing their funds in the same transaction.

Open Swaps

When pI wishes to make the swap open for anyone to accept, they are able to do so by specifying the acceptor as address zero. Importantly, this cannot apply to ERC721s on pA, so only the ERC20/1155/ETH variants are applicab

P2PSwap

Install / Use

README