⛽ Road to Layer 2 — 03.02 update
It’s already been almost 2 weeks since the last medium post, so I feel like it’s the right time to make an update to make a summary of the progress!
1. Working version on Mumbai + Audit
The 2 contracts (Price Aggregator & Trading) are done, fully working, and integrated on the front-end.
They have been tested manually on the Mumbai testnet, and unit tested aswell.
I have sent them to Certik so they can audit them while I’m working on what’s left before the launch.
2. New features!
You can now open trades using custom leverages, depending on what NFTs you have in your wallet, for an even better trading experience!
We will also be able to adjust the spread for every pair (will be chosen based on the liquidity & volatility of the pair).
I have also coded a new LP pool that will open at the same time as the trading platform.
You will receive a share of the trading fees and liquidations (in GFARM2) by staking GFARM2/ETH Quickswap LPs.
3. Our chainlink node operators network
I am building our own node operators network to make the real-time price requests of the trading platform in the most decentralized and efficient manner.
We will launch with 5 nodes, and aggregate the answers by taking the median once we receive 4 answers.
I have designed this network so there can be 2 malicious nodes or 1 malicious node and 1 inactive node at the same time without it impacting the price.
Eventually the goal is of course to grow this network by adding more nodes but since we are the first DAPP to integrate with Chainlink real-time requests on Polygon, it is currently very hard to find node operators.
The node operators are of course carefully selected, and they are incentivized heavily to not manipulate the data since this is a big opportunity for them.
This is already infinitely better than our previous solution with only 1 trusted node operator on the eth mainnet.
Thank’s to Polygon, the price requests are 100x less expensive than on the eth mainnet because of the ridiculous gas fees.
This means we have lots of room to grow our Chainlink nodes network.
4. Solving the LINK token problem on Polygon
Currently, because of the way the LINK token has been bridged from the ethereum mainnet to Polygon, it can only be used as a basic ERC20 token.
But LINK is supposed to be an ERC677 token, so it currently can’t be used to make real-time price requests and pay the node operators.
I have found a workaround and tested it successfully on mainnet. The Chainlink team is auditing it asap.
This is crucial, since at the moment nobody can make real-time requests on Polygon using the official Chainlink token.
5. The launch
The trading platform will launch in about 2 weeks from now.
If it only depended on me, I’d be ready to deploy everything in 10 days, but we are waiting for the Certik and Chainlink audits.
The goal is not to rush things, since we have no real competitor. Let’s keep making steady and solid progress towards our L2 integration!
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