One of the biggest challenges to protocols in the Defi is liquidity. Protocols either try to create their own liquidity by offering insanely high promises to users so as to increase adoption fast this tends to have a negative repercussion because once the insane promises are reduced, the protocol needs to find new funds so as to keep us the returns or else the users would move to the next new protocol offering unsustainable returns. Another option is for the protocol to make use of the liquidity of another exchange that they sometimes compete against. We are proposing an open-source fully on-chain limit order book protocol for developers to use as a source of liquidity and more.

What it does

Order books are one of the corner stones of defi. Due to this, we created the S-book. It brings the power of traditional finance to decentralized finance by giving developers access to an open-source order book. Developers of protocols and D-apps make use of the API/SDK to connect to the order book. It is truly decentralized and relies on the Hedera Hashgraph for secure transactions.

** Advantages of the system**

  1. Truly Decentalized: Say for example, you want to carry out a heavy transaction making use of one of the centralized exchanges, you would quickly run into issues such as borrow limits, withdrawals limits, etc. However with a system like this, it is truly decentralized and you wouldn't experience such inconveniences.

  2. Faster: Say for example, you want to create this new amazing DEX (Decentralized exchange), you could: Learn solidity, build matching engines, get market makers and then build the UI...or you could make use of an API/SDK that already handles the backend for you, meaning that all you have to do left is to create the User Interface.

To illustrate how this can be used, we have built a sample DEX that makes use of the API. This sample DEX and code can be seen in the GitHub repo linked below. We also have a gitbook with code explanation and full documentation. Also linked is a gitpod sample.

Challenges we ran into

None of the developers that worked on this project are solidity experts, however, we were able to learn while building the project and combining it with having to learn how the hedera Hashgraph works.

Accomplishments that we're proud of

We were able to not build an entire protocol from scratch, but also a fully working sample that makes use of it.

What's next for S-Book

We would remain in the testnet for a while until the code gets audited before moving to the main net

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