Dry Powder
Shared-reserve dip-buying strategies powered by 1inch Aqua and SwapVM.
Demo
About
Dry Powder is a DeFi prototype for coordinating multiple buy-the-dip strategies from one shared stablecoin reserve. A maker can allocate one 10,000 mUSDC budget across ETH, WBTC, and LINK strategies, while each strategy remains independently fillable through Aqua. When one leg fills, the shared reserve state updates, reducing capacity and repricing sibling strategies automatically. This prevents overcommitted strategies from spending more than the maker’s real budget while still letting the maker express broader intent across multiple assets.
How it's made
Dry Powder is built with Solidity, Hardhat, TypeScript, 1inch Aqua, and 1inch SwapVM. The core is a custom DryPowderRouter with a custom SwapVM opcode that reads shared reserve state before settlement. Aqua handles strategy shipping and virtual balances, while the Dry Powder opcode enforces reserve budget, per-leg caps, maker wallet balance, tranche boundaries, and dynamic price multipliers. The demo deploys to Ethereum Sepolia using the official Aqua registry, mock ERC20 assets, and scripts for deploy, setup, quote, fill, and sibling repricing. The hacky/fun part is using independent Aqua strategies that appear overallocated, while one shared onchain reserve makes them collectively safe.