JOJO Exchange

JOJO Exchange

An innovative arbitrage scheme that generates consistent and reliable returns through funding rate arbitrage. https://app.jojo.exchange/flexibleEarn

The problem JOJO Exchange solves

Problem solves:

Flexible Earn is a pioneering arbitrage scheme that leverages the funding rate mechanism in perpetual contract trading. The APR for Flexible Earn is derived from funding rate arbitrage paid by on-chain users trading perpetual contracts, ensuring consistent and reliable returns.
All users share a common funding pool and contract position, creating a seamless and collaborative earning opportunity that lowers traders' barriers to executing funding rate arbitrage strategies.

Advantages of JOJO Flexible Earn:

Stable Returns: Enjoy consistent earnings through JOJO’s automated funding rate arbitrage strategies
Convenience: Deposit funds into the JOJO platform and let our system handle the complex calculations and operations for you
Efficiency: Leverage the differences in funding rates to trade between perpetual contracts, futures markets, and spot markets, ensuring efficient arbitrage operations
High and Sustainable APR: Benefit from both funding rate arbitrage profits and basis profits (the price difference between spot and futures)

Challenges I ran into

Gas Optimization:
Challenge: Frequent on-chain interactions for arbitrage require gas optimization to ensure user profitability.
Solution: Conduct extensive unit and fuzz testing to optimize contract code for minimal gas consumption.
User Experience:
Challenge: Supporting continuous arbitrage while allowing users to withdraw funds at any time presents significant computational challenges.
Solution: Allocate a portion of USDC as a buffer to facilitate smooth withdrawals.
High Availability of RPC Nodes:
Challenge: Managing a large user base necessitates timely data responses, requiring highly available RPC nodes.
Solution: Implement a multi-RPC strategy to distribute load and ensure faster, more reliable user request processing.

Tracks Applied (1)

Trading Track

The funding rate is used to maintain price equilibrium in perpetual contract trading. It levies a fee on long or short t...Read More

TRADING with Aerodrome and Synthetix

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