- Please also see my Github for more details. https://github.com/james-chien/DeETF-protocol
It's inspired by ETF on the market. There are 7000+ notable tokens issued on crypto market. Many tokens are worth for users to invest. Our idea primary helps users to take less time, cost (gas fee) and risks to earn more revenue. It's also more faster and efficient than off-chain ETF.
What it does
The DeETF protocol has 4 important features implemented on the smart contract. It can be fully managed by smart contract through the interactions of participants.
- Unit creation
- Holdings change
- On-chain NAV (Chainlink data feeds)
How we built it
There are two smart contracts to interoperate with fund.
- FundFactory - Create fund pool.
- FundPool - Manage fund for unit creation, redemption & holdings change.
For fund movement, 3 more points to mention.
- permission - only fund manager can change holdings
- duplicate - use symbol to prevent multiple same tokens on the market
- security - keep track of unit creation. If holdings change, PD can still redeem correct amounts for basket of tokens.
Challenges we ran into
At initials, our logic is more complicated to create fund pools. After discussing and brainstorming, we change our way to keep it simple.
Accomplishments that we're proud of
We build the most effective method to help users to create their funds and also make it safe with other participants.
What we learned
What we learned is hackathon experience. Our team members first join this game for creativity.
What's next for
We list our next steps for this project.
- Governance - users can vote to add more tokens into ETF
- Staking - stake to share with protocol fees
- Variety of ETFs - Inverse ETF, Derivative ETF & ETF Futures and Options
- Improvements - add some minor features to provide better user experience