Overview

This document proposes a platform that combines trading in a model akin to Rollbit. These platforms have attracted vast interest from the crypto community in the past few months. They allow traders to deploy capital in assets with extremely high leverage and potentially attain huge rewards.

Even though the design of these platforms is not sound and might be prone to insolvency, aggressive liquidation framework and fees’ distribution can bootstrap liquidity in the early phases. The majority of the fees can be distributed back to the protocol to increase the pool size and potential losses when users make sizeable successful trades.

The product can expand to Sports, NFTs and more but the scope should be kept to trading and perpetual markets in the beginning for the MVP. The entire product should be fully decentralized with on-chain execution through CosmWasm smart contracts.

Hackathon MVP

• Develop a web application focused on perpetual markets with a peer-to-pool design. There should be a single pool for all markets and only launch top 20 tokens that are relatively non-volatile to ensure there’s a low risk of insolvency.
• The product should also have relatively low leverage in the beginning (30-40x) with fee distribution back to the pool and LPs until the ecosystem grows. Tokenomics can be further improved with a token buy-back mechanism or fee discounts.
• Pyth oracle prices from Injective’s oracle module should be utilized in the formula designs.

Resources

Protocol docs

Typescript SDK & docs

Injective’s oracle module

Rollbot docs

Mentor

Achilleas Kalantzis, Integrations Engineer

Discord Username: achilleaskalantzis