Som P2P Futures Trading Market

Som P2P Futures Trading Market is decentralized form of trading futures contracts directly between individuals or entities without the need for intermediaries such as traditional exchanges or broker

The problem Som P2P Futures Trading Market solves

Korea news (Onion prices plummet by 80%, farmers abandon their fields):

P2P Futures Trading has the potential to provide stable income to small-scale farmers for several reasons:

  1. Price Stability: Through P2P Futures Trading, farmers can enter into futures contracts for their agricultural commodities at a fixed price. This allows them to secure stability amidst price volatility. The example of "Onion prices plummet by 80%, farmers abandon their fields" highlights the challenges faced by farmers due to market volatility. Som P2P Futures Trading Market can address these issues by offering a platform where farmers and other market participants can enter into futures contracts to hedge against price fluctuations.

  2. Elimination of Intermediaries and Fees: P2P Futures Trading operates without intermediaries or middlemen. This empowers farmers to sell their produce at higher prices. By bypassing traditional exchanges or brokers, they can save on transaction fees and brokerage costs.

  3. Market Accessibility: P2P Futures Trading provides access to individuals worldwide, enabling small-scale farmers to participate regardless of their geographical location. This breaks down barriers of geography, economics, and technology, opening up opportunities for farmers to tap into global markets. This diversification of income sources and market access enhances stability.

  4. Transparency and Trust: P2P Futures Trading leverages blockchain technology, where transactions and contract details are recorded on a distributed ledger. This enhances transparency, prevents manipulation or fraudulent activities, and fosters trust among participants. Such transparency contributes to a more secure trading environment.

Challenges I ran into

  • Due to the problem of changing the variable type of JavaScript, the programming time has been extended

  • There were many concerns about where to introduce blockchain technology.

  • During development, the development was delayed due to a phenomenon in which blockchain direct was reflected late.

  • It was difficult to know how to use near-sdk because there were no various example projects