ChainPips

Inspiration

I am a software engineer, but I dabble into some trading. So I understand how markets work, what traders do, and how to improve trading systems using my knowledge of computer science. But there is (was) a problem. Trading forex, not just crypto isn’t as easy to do.

What it does

It makes trading forex trading possible without the regular barrier to entries and provides a permissionless system for this.

How we built it

After carefully evaluating current systems for trading forex, I started trying to model my idea after MT4, but I realized it was a unique product and necessarily have to follow existing products, so I made a few tweaks, started with the charts and dummy UI, wrote the smart contracts that power the platform, and finally connected everything together

Challenges we ran into

There was an issue of getting real-time information about the correct pairs the user attempts to trade on testnet.

The timing around executing orders was a little longer.

Accomplishments that we're proud of

Built out the full featured MVP for the project in a short period of time.

What we learned

Learned more about why some existing systems are more difficult to port to a decentralized environment.

What's next for ChainPips

Working on powerikg more complex limit orders to v2, and building an incentive system that would make more people want to participate in the ecosystem for chainpips, e.g. Liquidators

Built With

• nextjs
• solidity