Please find the video recording of our smart contract walkthrough here. We are generating two NFTs with an associated time lock in this demo. The combination of these two NFTs and the time lock functionality will represent the market dynamics of the derivatives. First NFT represent the original asset which has a market value. The second NFT represent the risk associated with the market position of the first asset. The time lock is intended to quantify the risk associated with the primary financial asset.
Dear Dr. @lydia , We have made good progress towards integrating price feeds into the smart contract system which is crucial for us to quantify the value of derivatives. We were trying two different approaches with Aeternity Oracles. Please let me share more updates by February third week as we are currently working on integrating the Oracle price feeds with the current set of primary and secondary NFTs connected by a time lock.
Hello Dr. @lydia and team, @gokulalex and I have been working together and have made quantifiable progress towards developing the Dynamic Derivative trading platform. We now have a novel approach in representing a crypto asset and the risk associated with the asset in our derivative platform. We have carry-forwarded the NFT approach where we are representing each CryptoAsset using an NFT and integrated it with the Oracles to fetch the real-world metadata associated with it. Below are the key points related to the implementation:
Implemented a PriceFeed oracle using CoinGecko APIs.
Represent a Crypto Asset as an NFT by interacting with the Oracle.
Represent the Risk associated with the AssetNFT as another NFT which can be traded.
a. We have implemented a novel formula to derive the Risk Factor associated with it.
Auctioning mechanism to trade the RiskNFT.
We have also made a demo video related to the same where we are explaining each concept and also going through the flow diagram of platform as well. Link to the Video Demo
We now look forward to interact with you and the core team members of aeternity to build more functionalities into the platform such as futures trades and also bring in a functioning UI with superhero wallet integration. We have already started our research work on the same. Looking forward to this.
Thanks for sharing this update @Jkrish1011, do you mind also sharing the link to the Github repo with the underlying Sophia smart contracts for your use case? I think many people would be interested to see how the pricefeed oracle was implemented
To brief you all about the Oracles implementation, we had challenges implementing the Oracle interaction on-chain(using inter-contract calls). We were facing few issues since it’s an asynchronous process. Thus we off-loaded the Oracles interaction(to fetch the live crypto pricefeed) through our javascript code (which can be nodejs or js script) and it interacting with the smart contracts, thereby controlling asynchronous processes.
We are looking forward to discuss the below aspects with the aeternity engineering team:
Making the Oracle Interaction on-chain.
Integrating the aci.json of a deployed smart contract available in a reactjs application.
Interesting is your NFT interface following the latest state of AEX-141? we made some changes a few months ago again. just to be sure about that. and great to see that you are using the standard!
@marco.chain went through the smart contracts.
It seems there is some updates that we missed. We can definitely make the changes to adapt to the latest standards in the following. Thanks for highlighting it!
Also - The market place contracts looks interesting. We have plans to expand to new verticals keeping this implementation as a base. Let’s discuss further.
We have build a smart contract based auction system to trade various type of dynamic assets integrated with Oracle Functionality. The Oracle system is intended to capture dynamic values. The time locks are designed to stabilise the assets before the trade. Below are the listed features of the system.
Hashed time locks.
Auctioning mechanism implemented through a DeFi Marketplace.
Dynamic NFT implemented using the AEX-141 standard.
Associated NFTs.
Novel Algorithm to calculate the Risk Factor associated with a dynamic NFT.
Aeternity Oracle implementation to fetch live Crypto Currency Values.
We would like to present this smart contract system and the oracle module with the listed features as the final submission from our side.
It would be great if this smart contract system can be further enriched by the community. We hope these functionalities would be useful for DApps.
