When I joined this hackathon I wanted to know the needs of this ecosystem. I looked at the comments regarding the previous hackathon and also made my own research. With this knowledge, I made a few points important points:
- liquidity mining
- DeFi tools
There are currently no tools to simply create a token on the Theta network. Entry-level to deploy your own token is very high since it requires knowledge of programming and deploying custom-made smart contracts. Also, there are not many liquidity mining protocols.
What it does
It allows users to create tokens in a very easy and intuitive way. It's a no-code interface for deploying and managing your tokens on Theta Network.
Users can mint tokens by locking their liquidity in a specific smart contract. Tokens are created with no pre-mine, this makes them less vulnerable to rug-pulls. If at any given time token holders want to withdraw their funds they can simply burn tokens and they will be rewarded by receiving their locked liquidity.
This project also comes with another incentive which is liquidity mining. Every backed token can be used to liquidity mine and turn locked liquidity into profit. Every token comes with a specified interest rate. This interest rate is used to calculate rewards for locked liquidity. To avoid token inflation each transaction that unlocks liquidity will be charged with a small fee.
How we built it
The project is built and deployed on the growing Theta ecosystem. Its core logic is based on EVM-based smart contracts. Frontend is created using React with Typescript to make a code more readable and easier to understand for new developers.
Challenges we ran into
Completing everything before the deadline was really hard. I wish I had more time to add even more features. The core infrastructure is there and users and test working and deployed version of the application.
What we learned
Learned what is Theta and how it can be used for future projects. During my research, I learned a lot about the current Theta ecosystem.
What's next for Fluido
If I get to win the hackathon I want to further develop this project and turn it into a feature-rich platform for everything related to token management, deployment, and governance. In opinion it will be a very valuable DeFi building block for the Theta ecosystem.