Dazhbog

Introducing Dazhbog, the pioneering perpetual futures trading platform built exclusively on Polkadot's groundbreaking ecosystem. Born out of innovation and propelled by the collaborative spirit of a hackathon.

Dazhbog's perpetual futures contracts offer unparalleled flexibility, enabling traders to capitalize on price movements without the constraints of expiration dates. Whether hedging against market volatility, speculating on asset prices, or diversifying their investment portfolios, traders can leverage Dazhbog's perpetual futures contracts to pursue their trading objectives with precision and agility.

At its core, Dazhbog embodies the ethos of innovation and collaboration that defines the Polkadot community.

The platform is designed so that it never has ownership of users's assets, which are directly deposited into a Vault contract.

Thanks to the use of Oracle solutions, users trade at spot prices.

Architecture overview:

1. The user deposits funds, paying a fee, a portion of which goes to the platform, while the specified deposit amount is stored in the Vault contract.
2. The Manager is responsible for maintaining the mapping of open positions, margin fees, leverage, entry prices, etc.
3. The Manager communicates with the Oracle contract, which provides price information and flags when it's time to collect margin fees (every 1 or 3 hours) and when liquidation is necessary.
4. The Payment Manager acts as the link between the platform's core logic and the asset storage components. It uses the AMM to exchange assets in the Vault, adding or withdrawing funds, or collecting margin fees.

Future plans:

• Arbitrary number of crypto assets
• Implement in-house derivative AMM
• Create opportunity for higher leverage and strategies
• Add other DeFi instruments:
• Swaps
• Loans
• Liquid staking
• ...

Experience the future of perpetual futures trading with Dazhbog– where innovation meets opportunity in the dynamic world of decentralized finance on Polkadot.

Hackathon presentation

Github repo