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By Reyts - Stablecoin-Powered P2P Fiat DEX
Developing a Stellar-based P2P fiat DEX to remove accessibility barriers for underserved currencies and offer best-in-market fees.
Reyts will use Stellar’s Path Payment Strict Send to automatically complete currency swaps when no peer match is found within a set time window (e.g., 30 minutes). This ensures users can still exchange at their chosen rate using Stellar's built-in liquidity.
Stellar in action:
A user places a CAD→NGN swap. If no match is found, Reyts routes the transaction through Stellar’s decentralized exchange using Path Payment, fulfilling the swap at the requested rate with available liquidity.
A Soroban smart contract will monitor pending swap listings, and if a listing goes unmatched for a set period (e.g., 30 minutes), it triggers the fallback logic. The contract checks price conditions, validates rate limits, and initiates the Path Payment if criteria are met — all without human intervention.
Impact:
This reduces wait times from hours to minutes, giving users a more reliable, seamless swap experience without changing how they use the app.
Reyts will leverage Soroban smart contracts to introduce automated liquidity pools, allowing vetted liquidity providers to contribute CAD and NGNC for swaps. These pools will follow AMM logic, automatically determining prices and executing trades.
Stellar in action:
When a user initiates a swap, the system checks for peer matches. If none exist, it draws from Soroban-powered liquidity pools. Liquidity providers earn fees from every transaction they help fulfill.
Impact:
More liquidity means fewer failed swaps, faster transactions, and greater user confidence — especially for less common exchange pairs like CAD↔NGN.
Reyts already enforces strict KYC/AML checks off-chain. As users begin to interact more directly with wallets, Stellar’s built-in compliance tools and Soroban will help enforce rules on-chain.
Stellar in action:
Soroban smart contracts can restrict access to Reyts-issued assets unless a wallet meets verified compliance conditions (e.g., KYC flags or allowlists).
Impact:
This ensures that even as Reyts moves toward decentralization, it remains fully compliant — with less manual overhead and more automation, supporting growth into new regulated markets.
Yes
$75.0K
1. Seamless Stellar Integration
– Real-time fiat swaps executed using Path Payment Strict Send, Soroban, and Horizon, fully abstracted from users.
– Users continue transacting in fiat — no wallets, no stablecoin handling required.
📍 Milestone: 100% of eligible swaps processed via Stellar within 90 days of mainnet.
🕓 Performance Shift: Wait times drop from hours to under 5 minutes via automatic fallback.
🟢 Impact: Faster, more reliable swaps with zero user learning curve — essential for trust in underserved markets.
2. Mainnet Stablecoin Swap Launch
– Integrate ReytsCAD/QCAD, USDC, and cNGN with at least 1,000 successful CAD→NGN swaps on Stellar by end of Q4.
📍 Milestone: Stablecoin activity live on Stellar Expert with 3+ trading pairs.
🟢 Impact: Expands liquidity for underserved currencies and reduces remittance dependency.
3. Improved Speed & Cost
– Reduce swap fees from $3–$6 or 0.5% to $3 flat or 0.1%.
– Cut transaction time from minutes to <5 seconds.
📍 Milestone: 80% of swaps settle in under 5 seconds within the first quarter post-launch.
🟢 Impact: Enables fast, affordable micro and macro transactions — lowering barriers to access for everyday users.
For context:
Reyts is already live, processing thousands of dollars in P2P swaps each week, with over ₦450M+ exchanged since launch. Completing our planned upgrade with the Stellar Network will unlock a major leap in efficiency, liquidity access, and transaction speed — resulting in a seamless and dramatically improved user experience.
Our go-to-market strategy builds directly on our active user base and community-first model. Here's how we’ll roll it out:
Goal: Seamlessly integrate Stellar infrastructure (Path Payment, Horizon, Soroban) without disrupting the user experience.
Launch swap engine upgrade behind the scenes
Users continue swapping CAD and NGN with no visible change
Backend gains instant fallback capability and blockchain transparency
🟢 Impact: Immediate performance upgrade, no learning curve
Goal: Let users know things are faster, cheaper — and offer perks for early adopters of stablecoins.
In-app popups and WhatsApp messaging:
“Swaps are now 90% cheaper and nearly instant — powered by Stellar. You don’t have to change a thing.”
Launch rewards for users who opt to send/receive in ReytsCAD, USDC, or cNGN
🟢 Impact: Gradual user-led stablecoin adoption without confusion
Goal: Enable real fiat on/off ramps and drive awareness within Stellar’s ecosystem.
Go live with Busha (cNGN) and Stablecorp (QCAD) integrations
Circle (USDC) integration follows
Coordinate ecosystem announcements, SCF updates, Discord AMAs, and social proof
🟢 Impact: Expands Reyts’ utility and trust within Stellar’s global community
Goal: Ensure swaps always execute — and empower the community to spread adoption.
Seed liquidity pools across key corridors (CAD↔USDC, USDC↔cNGN, ReytsCAD↔cNGN)
Onboard vetted LPs and automate market making logic
Scale our WhatsApp referral engine: reward users who bring others into Stellar-powered swaps
🟢 Impact: Sustainable liquidity and organic growth at scale
WhatsApp: Our most engaged users are here — messages see 70–90% open rates
In-App Messaging: For timely updates and reward notifications
Telegram + Discord: For reaching crypto-savvy users and community advocates
SCF & Ecosystem Events: Partner AMAs, newsletter features, community demos
_ _
2× increase in average monthly swap volume
Over 20,000 swaps processed via Stellar
Over $50,000+ in user savings due to reduced transaction costs
Active usage of ReytsCAD/QCAD, cNGN, and USDC stablecoins in swaps
Fully integrated anchors for fiat access in Canada and Nigeria
Kindly follow the link below to review our traction evidence with live stats.
Should the link above fail, kindly follow the link below
Brief Description:
Build a backend prototype that connects Reyts to the Stellar testnet, sets up issuer and distribution accounts, and enables simulated swaps between QCAD, USDC, and cNGN using Path Payment Strict Send.
This milestone includes the first version of the Stellar-aware swap engine — a backend service that integrates Reyts’ existing P2P logic with Stellar’s infrastructure.
It will determine when to execute swaps directly between users and when to route via Stellar’s on-chain liquidity (e.g., after a timeout or lack of takers), ensuring reliable and transparent settlement across QCAD ↔ cNGN.
Note: The earlier ReytsCAD test asset has been deprecated in favor of working directly with QCAD issued by Stablecorp.
How to Measure Completion:
Stellar issuer/distribution accounts funded on testnet
QCAD, USDC, and cNGN test assets issued or imported on testnet
Path Payment Strict Send working across QCAD → USDC, USDC → cNGN, and QCAD → cNGN
Swap engine functional with logic to detect peer match, fallback to Stellar, and log execution
Internal dashboard/log showing swap flows and fallback activity
GitHub repo with documented code
Short video demo or screenshots of the MVP in action
Estimated Completion Date:
8–10 weeks from grant approval
Budget:
$50,000 in XLM equivalent
Breakdown:
Backend Engineering + SDK Integration: $30,000
Soroban Dev Environment & Initial Compliance Logic: $10,000
Infrastructure & CI/CD: $5,000
PM, QA & Testing: $5,000
Brief Description:
Deploy and test the complete Reyts swap pipeline on the Stellar testnet. This includes:
Full swap execution via P2P match or fallback through Path Payment Strict Send
Mock integrations for SEP-24 anchors simulating Busha (cNGN), Stablecorp (QCAD), and Circle (USDC)
KYC gating and compliance flow
Public testing interface for reviewers
_ _
How to Measure Completion:
Backend deployed on Stellar testnet
Testnet assets (QCAD, USDC, cNGN) supported
Path Payment Strict Send fallback working across QCAD → cNGN via USDC
SEP-24 flows mocked for QCAD, USDC, and cNGN
KYC gating active
Public demo/test access provided
Updated technical documentation ready
Team ready for Stellar LaunchKit audit
Estimated Completion Date:
6–8 weeks after MVP
Brief Description:
Launch Reyts on Stellar Mainnet, enabling live fiat swaps powered by QCAD, USDC, and cNGN through integrated anchors and a production-ready swap engine. This includes:
Direct integrations with Busha (cNGN), Stablecorp (QCAD), and Circle (USDC)
On-chain compliance logging via externally triggered Soroban contracts
Liquidity-aware fallback logic
End-to-end fiat-to-fiat flows, abstracting Stellar from the user experience
_ _
How to Measure Completion:
Platform live on Stellar Mainnet
QCAD, USDC, and cNGN active and swappable
Path Payment Strict Send functional for QCAD ↔ USDC ↔ cNGN
At least two anchors integrated and operational
Soroban compliance contract deployed and invoked
Transactions traceable via Stellar Expert
Internal monitoring active for swap performance
Estimated Completion Date:
6–8 weeks after Testnet milestone
Budget:
$25,000 in XLM equivalent
Breakdown:
Backend deployment, monitoring, and scalability: $20,000
Post-launch maintenance & hotfixes: $5,000
Reyts is led by a team of seasoned professionals with diverse expertise:
Ayobami Macaulay, Co-Founder and Chief Operating Officer (COO), brings a deep understanding of financial systems and compliance, ensuring operational excellence and strategic growth.
Abimbola Adegbite, Co-Founder and Chief Security Officer (CSO), leverages over a decade of experience in quality assurance and cybersecurity to maintain robust security protocols and platform integrity.
Oluwasegun Matthew, Chief Technology Officer (CTO), applies his extensive background in software development to drive technological innovation and deliver a seamless user experience.
Abimbola Adegbite
Oluwasegun Matthew
Ayobami Macaulay
No other submissions.