Standard / StandardX

Standard / StandardX

Standard is a intent-based fully decentralized orderbook exchange with new pair equatioin(K=X/Y model), an antithesis to X*Y=K for AMM. StandardX is an intent agent with AI automation.

Built at ETHSeoul 2024
Neon 🧬: 1st. Prize

The problem Standard / StandardX solves

As we see countless L1s and L2s, AMMs are locking up users' digital assets, worsening fragmented liquidity across blockchains. AMMs are also expected to be regulated. There has been an warning by SEC that these liquidity can be regulated as security exchange, with risks of market manipulations by liqudity providers. Mirror protocol, for example, was able to manipulate mAssets' prices by adjusting liquidity deposits with LPs they dominate on the pair with UST. Uniswap announced that they will introduce limit order feature in their dex, slowly adding other method to trade other than swaps. In 2 years, AMMs will become a source of problem rather than defi blue chip.

To replace AMM model and solve the problem caused by AMMs, Standard introduces the new model with new equation(K=X/Y) while being incubated by Uniswap hook incubator( With K=X/Y model, users can submit intent(A.K.A limit order) to buy or sell digital assets. The equation always provides best execution for users' order, eliminating 'payment for order flow' practice from traditional finance.

With the order data transparent and open in blockchain, quant traders can now compete fair without dark pool, making more transparent market competition to brokerage firms. The performance can be optimized by an AI, and the team introduces an AI bot framework StandardX, starting with python api to interact with the orderbook contract.

Challenges I ran into

Challenges I ran into in EVM nowadays are size limit of RPC on querying contract information. 2048 byte size limit was only able to get 40 orders from the application on one session, so I had to make my own indexer to save orders.

Tracks Applied (3)

Astar zkEVM

Standard is integrated in Astar zkEVM, and it expects to be orderbook layer for native token in Astar ZkEVM as it does n...Read More

Astar Foundation

Best Use Case of Neon EVM

Neon is known for L2 on the fastest L1 chain, Solana. The app has integrated in Neon with contract deployment.

Neon 🧬

Injective inEVM Bounty Program

Standard is integrated in Injective EVM, and it expects to be orderbook layer of inEVM just as Injective native chain.

Injective Labs

Cheer Project

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