Priceless CFD framework / POC that shows how a Priceless CFD contract can be utilized on Ethereum.


Created At


Project Description

This project builds on top of UpSideDai's concepts to create a CFD that is:

  1. Leveraged
  2. Fully backed by some collateral (e.g. DAI) at every given step
  3. Priceless (i.e. does not require a live price feed)

This Priceless CFD project can be seen as an "optimistic" CFD that is also leveraged, and fully backed by collateral. Should the CFD contract exceed the price boundary, then a settlement request can be submitted. That request can also be disputed (usually by bots), and everyone is incentivized to report back the correct value of the underlying in order to prevent being penalized.

How it's Made

This project uses React + Next.js for the frontend, Truffle to compile the contracts, Solidity for the contract source code, and a bunch of code from UMA to mimic their "priceless" system, e.g.

  1. Mock Oracles

  2. Finder

  3. Whitelist

  4. Identifiers

The bot is written in Node.js using Ethers.js with a pub/sub method to listen to events.

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