securezerox commented 2 years ago

Liquet Protocol: The First Perpetual swap on Secret Network

Introduction

Liquet Protocol (or “Liquet”) is the first decentralized perpetual dex with vAMM model on Secret Network.

Problem

There are only few DEXs on Secret Network, and they don't have much liquidity comparing to other popular network. ex ETH and polygon.

Liquidity Table

DEX	BTC	ETH	USDC
UniswapV3(Ethereum)	$219.43m	$1.15b	$1.03b
PancakeSwap(BSC)	$195.43m	$164.04m	$332.75m
QuickSwap(Polygon)	$24.78m	$68.46m	$75.33m
SecretSwap(Secret Network)	$948.88k	$1.35m	$504.69k

Because of low liquidity, traders on Secret Network often experience higher slippage.

Solution: Liquet Protocol

Lower slippage Liquet is based on vAMM (Virtual Automated Market Maker), where users can trade with virtual liquidity. Users can trade on high liquidity, so users can trade with lower slippage.
leverage up to 10x Traders can buy big amount with small collateral.
Limit orders

Roadmap

8/2022

Complete Smart contract except limit order
Complete Liquidation bots
Complete arbitrage bots
Launch MVP version (On secret testnet, 10x leverage, Trading without limit order, support SCRT, ETH AMMs)
Trading competition Round 1 with the Secret Network community.

9/2022

Launch landing page
Publish whitepaper
Setup community

10/2022

Complete limit order smart contract
Complete order bots
Audit smart contract

11/2022

Trading competition Round 2 with the Secret Network and Liquet Protocol community.
Launch on Mainnet

Grant Request

We are requesting a grant of 45k SCRT. This grant will be used for development(smart contract, frontend, bots), audit, and marketing.

Milestone	Estimated Date	Amount
1. Grant Accepted	Present	5k SCRT
2. Launch MVP without limit order(smart contract, frontend, bots)	August 2022	15k SCRT
3. Complete Limit Order(smart contract, frontend, bots)	October 2022	15k SCRT
4. Complete audit and trading competition Round 2 and Launch on Mainnet	November 2022	10k SCRT

Milestone 1: Grant Accepted (5k SCRT)

Now the smart contract excepting limit order have been ready, and frontend without web3 integration is ready now.

Milestone 2: Launch MVP (15k SCRT)

We will complete smart contract for core functions of Liquet - 10x leverage, trade on vAMM, and frontend integration with core functions, and liquidation & arbitrage bots.

Milestone 3: Complete Limit order (15k SCRT)

We will complete smart contract for limit order, and frontend integration with limit order, and limit order bot.

Milestone 4: Launch on Mainnet (10k SCRT)

We will get audit for smart contract, and organize trading competition Round 2 with Secret and Liquet community, and launch on Mainnet.