Dazhbog: A Decentralized Perpetual Futures Exchange
Beneficiary:Dear Polkadot Community,
Ceres Blockchain Solutions is thrilled to propose Dazhbog, a plug-and-play solution for a decentralized perpetual futures exchange within the Polkadot ecosystem. This platform allows other builders and parachains to seamlessly integrate it into their ecosystems, enabling users to trade perpetual futures contracts in a decentralized manner while leveraging the security, scalability, and interoperability of the Polkadot network. By integrating with their parachains, builders can offer a smooth and efficient trading experience without relying on centralized intermediaries.
The core concept and technical feasibility of Dazhbog have been rigorously validated. Our project secured first place in the DeFi category at the Polkadot Prodigy hackathon, underscoring the extensive research conducted and the project's significant potential.
We began by validating the idea at the Polkadot Prodigy hackathon and planned to apply for a Level 2 grant for the Proof-of-Concept of Dazhbog. During Polkadot Decoded, we had discussions with members of the Web3 Foundation and other influential figures in the Polkadot ecosystem. While they expressed interest for the idea, they advised us to skip the PoC grant and pursue full product implementation instead.
The full proposal is available here - https://docs.google.com/document/d/1Asz_sQFl8-8WdACZoHPS5XTsDb8T8F_Ry7L2ubcJGNY
Forum post (please note that following extensive discussions with the W3F, we have decided to move away from pursuing W3F Level 2 and DF grants for PoC and go straight to full product development) - https://forum.polkadot.network/t/decentralized-futures-dazhbog-a-decentralized-perpetual-futures-exchange-on-polkadot/8777
Best regards,
The Ceres Team
Discover more about us:
Website - https://ceresblockchain.solutions
Linkedin - https://www.linkedin.com/company/ceres-blockchain-solutions-llc
Twitter - https://twitter.com/ceresblockchain
Email - [email protected]
Comments (8)
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Nay (35)0.0 DOT
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We have some issues with this pallet "plug-and-play" approach. Our main concern is that it hasn't been that successful at bringing use or adoption. We have seen this in the past. During the initial development of Substrate projects, many pallets were developed and consequently turned into abandonware, the most notable being Chainlink's pallet. Ceres has already developed the Carbon Credit Pallet, which can be considered a successful delivery and in accordance to the OpenGov proposal. Github https://github.com/Ceres-Blockchain-Solutions/veles-pallet Docs: https://veles-carbon-credits.gitbook.io/veles-carbon-credits-pallet But we have not heard of carbon credit initiatives that are willing to use this pallet or Ceres starting a Carbon credit project that will make use of this pallet. We are seeing this issue again with Dazhbog, hopefully we get to see perps being built on Polkadot but this will again create a pallet and hope to find a team willing to go all the way to create these perpetuals as a product with the added costs of development and auditing? In short, what is the best argument to have this collections of pallets without having the project that coalesces them into a product? We brought the exact same point during ref 496 but we would like to see how this plug-and-play development approach can be framed positively when we don't have the team willing to use it right now. https://polkadot.polkassembly.io/referenda/496#1mut2Fzd1wDNJNc1tnsn
Voted nay for now.