Our Project for ETHSingapore Hackathon
The cumulative trading volume of perpetual contracts since 2020 has exceeded $60 trillion, surpassing the trading volume of both underlying cryptocurrencies and conventional futures contracts.
- Front Running: Visible pending orders allow traders to manipulate transaction ordering to their advantage.
- Copy Trading Exploitation: Competitors can duplicate visible strategies, profiting unfairly from others' trades.
- Lack of Privacy: Exposure of traders' strategies and positions can be exploited by market analysts and competitors.
- Market Manipulation: The transparency of open order books can be abused to manipulate markets and liquidity.
- Trust Deficit: Users can't verify platform solvency, raising concerns about asset backing for open positions.
- Hidden Liquidity: Lack of visibility into market depth makes order execution uncertain.
- Manipulation Risk: Market can be manipulated by the platform or privileged users without detection.
- User Trust: Lack of transparency, especially during volatility, can drive users away.
How We Solve These Issues:
- Private Order Book System: Implementing private order books enhanced by access proofs and proof of solvency to ensure transparency and foster user trust.
- Partial Public Data: Some market data remains public to avoid a gambling-like environment, while the system's core operates in a decentralized, transparent manner.
- Chain Abstracted DAO: A decentralized governance model allowing users to propose and vote on changes to the platform and perpetual contracts.
- Cross-Chain Voting: Cross-chain voting ensures that all stakeholders have a say in the platform's evolution, enhancing trust and transparency.
For more Details read our exclusive docs