Future FTR

Inspiration

We're developing a fixed-rate contracts, future contracts, and floating / fixed rate swap contracts on solana. We currently have a centralized version of the fixed rate product product that is basically a tokenized cash and carry position that is held on a centralized exchange. People were not pleased with the user experience when they were purchasing the product on Serum so we decided to create an automated dealer to have a UX comparable to what people can have when they stake on pools on Solana when they purchase our products

What it does

Just like a regular vendor machine, for a given product/mint, this smart contract :

Allows the creator to change the price of the product -Allows the user to pay with 2 different tokens ( $USDC and $FTR )
Allows its creator to put products/mints into the smart contract https://t.co/rprEjpSNln
Allows its creator to put products/mints and USDC out of the smart contract This is a decentralized smart contract but the process and the management of the funds are still centralized.

Why is it still interesting in our humble opinion:

This allows us to make our first steps into smart contract development with limited risk.
This also offers simple examples to the community and we relied on them a lot for producing these
For $FTR, we believe people expect a pool like UI
We're curious to see how people might use that 🙂 We decided to go for it and hope this will help people and make the purchase of our centralized products easier. Humble contribution but honest work ❤️

We also worked on a very simple voting program with stacking.

How we built it

We started from the anchor test examples written by Armani and many other very talented and friendly devs available on Github, specifically the IDO-pool example developed by the mango team

Challenges we ran into

Learning a new framework that is constantly changing. Getting the right information. There are a lot of documents on solana now and it is sometimes hard to know what direction to go when you want to do this or this. The dynamic hedging algo we developed was also a challenge. We're working on other projects' code also and sometimes the doc is not ready yet. Only a few people worked on it so as soon as it gets more advanced (CPI) it gets quite hard

Accomplishments that we're proud of

Learning a new language framework in a short amount of time Meeting with devs we've started working with and helping each other Now having a clear path from an onchain development point of view to develop a fully onchain fixed rate product

What we learned

Anchor solana, improved our approach to search for information

What's next for Future FTR

Launch on mainnet for the distributor and voting program in November, working on the fully onchain product eyeing a launch on devnet for EOY, working on other protocols integration, especially option platforms on sol, to develop selling theta strategies like what Ribbon fiance is doing.