Protec

Hedging inflation on consumer prices with call options using pods finance for options AMM and redstone oracle for the price feeds and Komodo synthetic underlying assets

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PROTEC

DESCRIPTION

Many countries in the world experience hyperinflation driving many companies out of business when they are not prepared. Protec builds on top of Pods options primitive, and the Redstone oracle to ffer a solution. With Protec you can hedge your company over commmodities like corn, rice, gasoline, and milk.

INSPIRATION

Composing existing platforms, and the idea of offering a non-exising product to current defi users.

LESSONS LEARNED

The team learned that the pricing of option uses complex mathematical models to calculate the price of options. In general we got more familiarized with the concept of options for hedging purposes.

BUILT WITH

PODS Finance Option primitive, Redstone Oracle for commodities, React-APP, Solidity

CHALLENGES

Redstone Oracle is interesting because it method is different than typical on-chain oracles. Data is only available on request, first off-chain, then on-chain. The team initiated the journey with the idea of offering multiple commodities and different option conditions. However, towards the end the team realized this overcomplicated the MVP.

NEXT STEPS

Complete integration of commodities and respective oracle process. Allow exercise,provide liquidity, functionality on front-end.

Built With

  • pods
  • redstone
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