Challenges
Integrate Tenderly Web3 Gateway
same as above.
OpenZeppelin Defender Integration
we use openzeppelin defender in the code.
BUIDL on Fireblocks
fireblock is a very good wallet solution , we may use it in the future.
Embed Streaming USDC Payments into your App
We use usdc as the stablecoin and payments for both traders and LPs , Cool!
Chainlink Functions
we use chainlink to get ethereum price , and use it to generate option price through computation.
Cypher Onboarding SDK
Cypher on boarding SDK is very suited for us , howver , we can't integrate into arbitrum testnet , we may integrate it in mainet in the future.
Build on Base 🔵
Base network is really new and it is not supported by chainlink , so we didn't use finally (considering using it later)
Tenderly Simulation API Integration
We want to integrate tenderly in our code (and it suits us well in the transaction confirmation part!), however , the time is limited , so we haven't add it yet in the demo version.
Connect the world with Chainlink
We use chainlink to get ethereum price , then use it to compute option price !
#BUIDLathon 2023 DeFi Track
we build option on layer2 , definitely DeFi.
Project details
We build a option product which settle to 0 or 1 based on its underlying asset’s price on expiration date. Traders receive a payout if the option expires in the money and incur a loss if it expires out of the money.
For example , a trader buy a ETH-2000-CALL that will expire on April 1 , 2023 , at 12:00am . So when we come to expire time , if ETH price aboves 2000 , the option will settle to 1 , if ETH price belows 2000 , the option will settle to 0.
As for trader's counterparty , liquidity provider stake money into pool . When trader makes money , the LP incur a loss . When trader lose money , the LP can realize the profit. Unlike traditional option , the upside of call is limited , so the LP has a limited risk and realizes a more stable earning.