Fusion Trade - Oracle-based DEX:
We are building Fusion Trade - Oracle-based DEX with CEX-like experience and easy onboarding from Ethereum for retail users to trade crypto, stocks, forex, and commodities with 2-1,000 leverage, seamlessly and in a fully decentralized way.
We have decided to build Fusion Trade DEX on Injective due to its high speed of transactions, being a dedicated chain for Cosmos DeFi, and native support of USDC/USDT. Injective has also native bridging and support of signing txs in Metamask - which is important for us to bring liquidity/users from Ethereum.
Fusion Trade is also different from Helix DEX on Injective. Unlike Helix, Fusion Trade uses oracles and synthetic-based assets, easily can add new markets and higher leverage.
Hence, we’re excited to build the most advanced Oracle-based DEX for the Cosmos ecosystem and developed this MVP for the hackathon.
Our team is uniquely qualified to build an oracle-based DEX due to our extensive experience in Rust smart-contract development, building liquidation bots for Gains network, cross-chain communication experience, and running oracle nodes for Chainlink. We have broad expertise that ranges from DevOps and Security to Blockchain, Backend, and UI domains, which allows us to approach the project from a holistic perspective.
Our team has already developed successful blockchain projects, such as Orion Money and Stakestar ETH staking pool, on various chains, including Cosmos (Terra), Ethereum and Polygon, which demonstrates our ability to create scalable and secure blockchain solutions. We also won first place in Delphi Terra hackathon two years ago with Orion Money project.
Additionally, we have experience in running validators on Terra, Terra Classic, Mars, and Injective, which means we have a deep understanding of how different chains operate and can build a cross-chain oracle-based DEX that integrates with multiple chains seamlessly.
The Request for Oracle-Based DEX protocol clearly describes the functionality of the expected MVP to be built during the hackathon. There are essentially two areas: Functionality related to opening, executing and closing trading orders; Functionality related to providing liquidity.
Fusion.Trade MVP was built taking into account the mentioned requirements and, in our opinion, the MVP fully covers the requested functionality. Fusion.Trade MVP consists of: Web application. The app supports two modes: liquidity management and trading Smart contracts. Liquidity vault smart contract allows deposits and withdrawals of the liquidity, mints LP tokens, updates LP token rate based on the pool state. Main trading contract allows orders creation, execution and liquidation Background infrastructure. This includes the bot process which is responsible for the execution of the orders and liquidation of the undercolalterised positions. Indexer process which obvserves trading contracts in order to store trades history. REST API which supports indexer data access
We have integrated Pyth.Network oracles into our smart contracts, bot and application to retrieve the most recent assets pricing information. To demonstrate Pyth.Network capabilities we have implemented trading for Crypto assets (BTC, ETH) as well as FX EUR/USD pair and Gold price from the metals market.