Praxis Finance

The majority volume of CEX comes from trading derivatives. Derivatives are loved by traders as it gives them the opportunity to grab more profits on their funds with leverage. Perpetual futures are famous among traders due to the non-time boundness of the contract. These are traded on CEXs based on the supply and demand for the perp. CEXs cannot be trusted due to non-self-custody and discrepancies in their ledger. Onchain Perps had started emerging due to this.

Onchain perps are necessary to counter perps built over CEX. Onchain perps are built over liquidity pools. Protocols had started issuing perpetual positions by often building their own liquidity pools for providing liquidity to their perpetual. Thin liquidity in these pools has seen many hacks across these protocols.

We need users to be able to trade perps onchain in a deep, trustable, transparent liquidity pool. Aave’s liquidity all the boxes. Leveraged positions have being created by many protocols for good time. These positions are created from the pov of gaining extra yield on idle crypto.

Perpetual contracts can be created over Aave and the contracts be traded and transferred irrespective of the previous protocols.

Trading derivatives built on golden standard pools like Aave is bound to happen. We are going to lead it.

We had successfully integrated 2 more partner protocols, but they weren't working even when the developers from the partner protocols couldn't find the bug. The Internet had been a major issue at the venue for all. Often when we start brainstorming we aim to build entire protocol, it takes efforts and awareness to break the idea down to a POC to implement for the hackathon within the time bounded.