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Vikalp

We help you in purchasing and selling of securities on tezos ecosystem.

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Last updated: 03 October 2020 10:10 PM

Created project

The problem Vikalp solves

Vikalp is a securities Platform on the tezos ecosystem. Users can purchase securities contracts as well as provide liquidity to the contract.

The Ecosystem consists of Three Major Components:

1.Stable Token: The Platform utilizes a token known as USDY whose value is pegged in a 1:1 ratio to the USD dollar. Users can mint the token by locking up their XTZ's on the platform and mint the stable token. All the payments are handled with the use of stable token such as providing liquidity, purchasing securities, paying the premium and exercising contracts.

2.Securities: Securities consist of PUT Options, users can purchase as well as provide liquidity to gain premium on purchases. Instead of a traditional system whereby there is one buyer and seller which are matched by the system, the platform focuses to eradicate the order book mechanism and proposes to have a liquidity pool for sellers. This mechanism helps in the sharing of losses and helps liquidity providers gain much more profits in the long run.To make the payment system of liquidity providers much more efficient, the securities contract consists of a cycle of 25 days whereby the first 23 days are meant for purchasing of securities and the last 2 days are left for liquidity providers, to withdraw the amount. The premium received by the liquidity providers can be withdrawn at any point in time.

3.Token Exchange: The application has an Automated Market Maker(AMM) based decentralized exchange to swap XTZ and USDY Tokens. The exchange is much similar to UniSwap on the ethereum blockchain.

Challenges I ran into

  1. Handling Gas issues of smart contracts and optimizing Inter-Contract Calls.
  2. Shifting of smart contracts from Carthagnet to Delphinet.
  3. Modification of Thanos Wallet to Handle transactions on Delphinet.

Discussion