Creating a self balancing index fund platform!
For People who wants to hold basket of cryptocurrencies options are limited they either have keep hundereds of different tokens in their wallet of can they have to trust centralized index funds (e.g. EFTs) which doesn't benefit from transparency of blockchain.
What it does
Tradeboard's index funds are passive, self balancing, low cost index funds. We designed an innovative mechanism to incentives actors to keep portfolio of index fund balanced and because of this self balancing feature index funds don’t need any management at all and therefore fees can be as low as 0!
No need to mention that all fund tokens are ERC20 compatible and therefore they can easily be transferred to a different chains using current ERC20 bridges.
How we built it
With a great team and right tools! We build it the on chain side using hardhat framework and on for front-end we used React.js , we are also working on a backend using nest.js in order to show some historic data and chart to users.
Challenges we ran into
Keeping an index fund balanced was the most challening task for us and it took us some time to come up with the this idea of self balancing.
Accomplishments that we're proud of
The auto balancing mechanism of index funds are really interesting! people can invest into fund with any of coins that are available in funds protfolio unbalancement that occures because with this unbalanced will be covered by actors who are willing to get a bonus. this mechanism allows everyone to easily invest or redeem and if
What we learned
Using Chainlink price oracles and Uniswap smart contract.
What's next for Tradeboard
We are working to bring self balancing mutual funds to Tradeboard. And we want to make Tradeboard cross chain!