DePO, First P2P dApp with API

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  Easy widget to swap crypto or fiat

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  P2P exchange flowchart

Inspiration

The inspiration to create such a tool came to us against the backdrop of recent unfolding events in the crypto and in the world, blocking of user funds, the unclear situation with the exchange FTX and then we realized that users miss the opportunity to buy or sell crypto not through CEX, but through DEX!

What it does

On DePO you can find or create deals to exchange cryptocurrency to fiat and back, with exchange through P2P trading securely due to smart contracts. The deposit is stored in the smart contract and is only transferred to the buyer after both parties agree that the transaction is successful. Basically, this is the standard for implementing P2P trading, then it begs the question “what is new offered by the platform?”.

And here begins the most interesting part of the platform and the difference from other similar ones.

The exchange in DePO is decentralized, without any intervention of an “administrator”, everything happens through smart contracts and the algorithm in them. No registration or KYC is required to create or accept a transaction The platform is non custodial, it means that platform does not store or manage your funds, they are in your wallets and are under your full control Low commissions, 0.15% from the creator of the transaction, 0.35% from the resolver of the transaction, which is 0.5% of all transactions! When a dispute arises, the decision on the dispute is made by the DAO, which due to the implementation of the POS principle will not allow wrong decisions, because for the wrong decision of the DAO participant will lose their tokens, which give him income from commissions from transactions The second part of the platform’s unique offering is providing APIs, SDKs and methods for “Easy Swap” in one click.

This functionality will be provided for GameFi and Metaverse projects, allowing their users to buy project tokens or other valuable assets within the game with fiat, or sell them for real money!

How we built it

We started with market research and design algorithms, how will our product work to achieve maximum exchange speed while maintaining the security of funds and decentralized system, it was a long but pleasant days, evenings and nights)

Challenges we ran into

One of the main challenges for us was to think through the flow of the exchange, in order to find how to organize the fastest possible exchange without losing security. As a result, we used the familiar P2P format with its steps.

The second and most difficult problem we solved was how to organize a decentralized dispute resolution, and we found the answer in the form of DAO, which gave the ability and responsibility to resolve disputes between users and thus receive a portion of the profits of the platform using the PoS consensus

Accomplishments that we're proud of

The most important achievement we are proud of is the integration of DAO as a management system, which really has a crucial role in the operation and development of the project

What we learned

We got better acquainted with the TRON system and its API for interacting with the blockchain, better understood how to work and integrate TronLink as a wallet, and many times we optimized and updated the contracts as well, because on the Tron network

What's next for DePO, First P2P dApp with API

The next step after the hackathon will be to create a personal account for DAO and API integration, so that any interested project can use all the power of this tool in its ecosystem, especially we are aiming at Metavers!

Built With

• chai
• hardhat
• javascript
• mocha
• mongodb
• nest.js
• node.js
• nuxt.js
• redis
• solidity
• typescript