Launching a new derivatives product seems to be lengthy, given the portfolio from DeFi trader cannot be fully hedged as the market has been growing extensively over the last year calling for more derivatives product from Compound's interest rates, Alpha's leveraged positions and even Uniswap v3's concentrated liquidity positions.

So we believe that traders are waiting for the derivatives DEX platform that all asset classes are available to trade.

Current Features

  • Non-orderbook perpetual swap protocol
  • Open short or long positions up to 4x leverage on any asset classes
  • Proactive price discovery mechanism
  • Support APPL, TSLA stocks on Kovan
  • Support DOT, renBTC tokens on Acala Mandala TC6
  • Liquidation of the unsafe position

How we built it

DODO’s PMM model has been applied to make our derivatives DEX as its core component, unlike other AMM-based non-order book derivatives DEXes in the market that require intervention from the project team when slippage is going high.

PMM is capable of proactively adjusting mid prices to achieve higher capital efficiency from external sources whether it be an Oracle network or any on-chain states

PMM stands for Proactive Market Making Algorithm has been introduced by DODO

Accomplishments that we're proud of

  • Our own made perpetual swap contracts that simple and clean
  • Could be the first that adopted Oracle-aided market making model into perpetual swap protocol
  • Chainlink integration
  • Acala/Polkadot integration

What we learned

  • Alternative chain to deployed as opposed to Binance Smart Chain

What's next for Tamago Finance

  • Interest bearing vault to replace the basic vault
  • 1000+ trading pairs
  • Launch on Acala Mainnet
  • Community-governed derivatives catalog

Built With

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