Panda Finance

Position creation
Market Card

Inspiration

The evolution of the blockchain technology and the gradual acceptance into the traditional financial sector leads us to the idea of bringing traditional swap contract on the blockchain. For both, professional and individual. In the financial sector most of the swaps are settled with the help of a clearing house, we could now create swaps without clearing house. Thanks to the power of smart contract to handle transactions without counterparty risk, allied with Chainlink Automation and Chainlink Pricefeed.

We would like to thank Patrick Collins for his YouTube videos, and the Chainlink YouTube channel. We will not be here today without you.

What it does

Panda Finance brings traditional finance swaps to the blockchain, making instruments accessible to a broader audience. Those swaps include both cryptocurrency and traditional assets.

Users can make/create a swap on the market, or take an existing open swap. At the end of a period, winners can withdraw their profit manually or automatically with Chainlink automation. The profit will be calculated according to the performance of both assets and the notional amount set at the swap creation.

How we built it

We built our project using Foundry for the smart contract development, and Next.js for Web3 development.

Challenges we ran into

Limited resources

One of our biggest challenge was to be team of 3 developers with limited time. Each of us with our strengths and weaknesses, we had to share our best to each other.

How to get historical price

We had to research a way to get the historical price through Chainlink PriceFeed. We used a Binary search to get the correct timestamp.

How to compare cryptocurrencies and traditional equities

We had to research what kind of financial swap could be used to compare cryptocurrencies and equities. Plus, we couldn't get the dividend information of the equity through Chainlink PriceFeed. We decided to use the Price Return Swap model, which monitor the changes in price of stock, excluding the dividend.

Accomplishments that we're proud of

We're proud of the brainstorming we had together to pull the solution off. We're proud of the hard work we did everyday. We're proud of our project, and we wish to continue it.

What we learned

We've learned how to get the historical price of an asset in the past through Chainlink PriceFeed. We've also leader how to use ChainLink automation for the settlement.