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Premarket Protocol

Synthetic premarket asset protocol built on UMA protocol

Premarket Protocol

Created At

MarketMake

Project Description

Premarket Protocol is a platform for trading highly over-collateralized, volatile synthetic assets representing pre market interest in unreleased assets. Prices are determined via self reference, pulling from synthetic token trading on DEX's. The frontend provides an interface to mint synthetic premarket tokens and track your positions. Synthetic assets are generated on UMA protocol and price discovery uses a price identifier which is secured by the optimistic oracle. The practical aim is to replace un-collateralized "IOUs" currently offered by centralized exchanges for pre-ICO tokens, pre-IPO stock and more.

How it's Made

The frontend is forked from a synthetic asset tool developed by UMA protocol and uses React, Typescript and Next.js. The contract generator which mints the synthetic asset is forked from UMA protocol and uses node.js with custom parameters depending on the specific requirements of the synthetic asset. The Price Identifier was added to the Kovan testnet and will be defined in the future production release via UMIP. Thanks to the UMA protocol team for helping to brainstorm the complicated mechanics to get this working, I was really impressed with the quality of the UMA protocol technology and team. One of the technical challenges was how to stop expire the assets after launch using the optimistic oracle, this was solved with the help of the UMA protocol dev support team.

Please note there are several github repos in the organization https://github.com/PremarketProtocol

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