We want to solve the current problem in crypto tokenization. Currently there is a problem of limited access to certain markets or sectors: By creating and trading customized synthetic assets, the platform aims to provide individuals with access to a wide range of investment opportunities, including stocks, commodities, and indices, that may be traditionally difficult to access or invest in. People have more control over their investments and utilizes blockchain technology to provide a more secure and transparent investment environment, which can help to increase trust in the financial system.
What it does
The proposed project is a decentralized finance (DeFi) platform that enables users to trade custom tokens representing real-world assets such as stocks using smart contracts and tokenization. The platform allows individuals to invest in markets that are traditionally difficult to access or invest in, thus reducing the threshold amount of money required to invest in stocks with high prices. The platform also enables 24/7 trading of tokens, making it possible for users to buy and sell tokens even when the traditional stock exchange is closed. The platform would integrate advanced security measures, such as multi-sig and collateralization, to ensure secure and transparent transactions. Additionally, it could integrate with other DeFi protocols, such as lending and borrowing platforms, to provide users with more opportunities to earn passive income and manage their investments. This project has the potential to revolutionize the investment industry by providing individuals with access to new investment opportunities, increased security, and more control over their investments.
How we built it
We used solidity for smart contracts, openzepplin for erc20 tokens implementation. Ether.js for making connections with smart contract. Chainlink is used to fetch the current price of the stocks in the smart contract.
Challenges we ran into
We brainstormed over the algorithm and created it for working of the platform. We came across minor difficulties in the smart contract that we solved together.
Accomplishments that we're proud of
We won pool prize for the project in one hackathon.
What we learned
We learnt a lot of things while building this project like technical as well as business aspects.
What's next for Stockex
We aim to make this a fully functional platform by onboarding many users and participating in hackathons.
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