Synthetic Exchange Project (SEXP)

Synthetic Exchange Project (SEXP)

I’m happy to announce that our team at Smart Contract Labs[1] has been busy building a new decentralized synthetic assets exchange on Tezos. We are excited to grow the vibrant Tezos DApp ecosystem[2], alongside great apps like Dexter[3] and Quipuswap[4]. Our goal is to provide even more options for users who value decentralization and trustless trading experience.

To deliver the smoothest UX, our app is going to work with nearly all Tezos wallets[5], taking advantage of the TZIP-10 standard[6] and Airgap’s Beacon SDK[7].

As our first instrument we are going to release binary options for various crypto assets. We are aiming for a mainnet launch in Q1 2021.

The project is supported by a Tezos Foundation grant[8].

We are not finished building yet, but if you are interested in the technical details:

  • we are using Harbinger[9] for price feeds
  • we are going to use the planned Kolibri stablecoin (kUSD)[10]
  • we are using Michelson[11] for smart contracts
  • we are using the FA2 standard[12] for our token contracts
  • the web app is going to work with all wallets that support Beacon

We are going to provide updates and answer questions in this thread.


references

1: https://smartcontractlabs.ee/
2: https://tqtezos.com/
3: https://dexter.exchange/
4: https://quipuswap.com/
5: https://tezos.com/get-started/#store-and-use-wallets
6: https://gitlab.com/tzip/tzip/-/blob/master/proposals/tzip-10/tzip-10.md
7: https://www.walletbeacon.io/
8: https://tezos.foundation/grants/
9: https://github.com/tacoinfra/harbinger
10: https://tquorum.com/stream/a-look-into-defi-on-tezos-with-harbinger
11: https://tezos.gitlab.io/007/michelson.html
12: https://gitlab.com/tzip/tzip/-/blob/master/proposals/tzip-12/tzip-12.md

20 Likes

I like the acronym.

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Awesome!!! How does it compare to https://www.synthetix.io/?

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Good job, Martin! Still remember our meeting in Geneva :switzerland:

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We are looking at synthetic asset projects on other platforms like Ethereum and adapting good ideas. The main difference is that Synthetix has a few years head start :grinning: If everything goes well, we’ll have a similar product lineup with much lower gas costs. They are using Chainlink so they are a bit limited in what assets they can add. Depending on what oracles are available as time goes on, we might have a more varied asset portfolio.

3 Likes

Great! With that the final DeFi primitive is planned. (Compound alternative was planned by Bender labs if i m not mistaken)

Just a quick update, we are making good progress towards the binary options product.

Here’s what’s done:

  • smart contracts
  • automated deployment of the contracts
  • automated tests for the contracts
  • watchtower robot to improve product UX

We are also working on shipping a web app to make using the contracts simple. We are going to launch a public testnet preview in the second half of February.

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Hey, y’all it’s the second half of February and hopefully you’ve not encountered too many stopping issues along the way. I’m very excited to check out the public testnet!

1 Like

You can now use a testnet preview of SEXP Binary Options and check out our roadmap.

We are also going to be answering questions in our Telegram channel this Friday 19:00 UTC.