Created on 10th May 2023
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The proposed project is a decentralized finance (DeFi) platform that enables users to trade custom tokens representing real-world assets such as stocks using smart contracts and tokenization. The platform allows individuals to invest in markets that are traditionally difficult to access or invest in, thus reducing the threshold amount of money required to invest in stocks with high prices. The platform also enables 24/7 trading of tokens, making it possible for users to buy and sell tokens even when the traditional stock exchange is closed. The platform would integrate advanced security measures, such as multi-sig and collateralization, to ensure secure and transparent transactions. Additionally, it could integrate with other DeFi protocols, such as lending and borrowing platforms, to provide users with more opportunities to earn passive income and manage their investments. This project has the potential to revolutionize the investment industry by providing individuals with access to new investment opportunities, increased security, and more control over their investments.
Major problems that we address:
For creating a smart contract to create, mint and burn stock tokens we need to get stock prices data on-chain:
This is done by creating oracle with chainlink to get data from various apis and then take a central value using chainlink's aggregator contract
Tokenization Standards:
Deciding a tokenization standard for the representation of stocks, which would determine the interoperability of the platform with other Defi protocols and marketplaces
Regulatory Compliance:
Platform would need to ensure compliance with securities laws and regulations in different jurisdictions to avoid legal issues.
Liquidity for all tokens listed on the platform:
Ensure sufficient liquidity to make sure that users can buy and sell tokens at any time without facing price slippage or low trading volumes
Tracks Applied (5)
Polygon
Polygon