Prime Exchange

Inspiration

The main inspiration for our project was the Prime Unicorn Index.

What it does

The Prime Exchange is a decentralized exchange that allows users to gain exposure to the Prime Unicorn Index and its components. Users can enter long/short positions with up to 10x leverage, all without required collateral.

How we built it

We built the Prime Exchange using Solidity. Gbolahan handled all smart contract work, while Will and Apurva designed the concept of the exchange, the token model, and all mechanics.

Challenges we ran into

The most obvious challenge we ran into was time. You must decide what can be built in the allotted time to ensure a competitive, complete submission. To this extent, we decided to focus on the smart contracts rather than the frontend, which is still under development. In addition, creating the API, which comes from Lagniappe Labs, who maintains the Prime Unicorn Index, proved challenging, but nothing we couldn't handle!

Accomplishments that we're proud of

We are incredibly proud of the contracts we completed and the mechanics, which allow for no required collateral and unlimited liquidity. These mechanics address the current problems in private markets and give users a unique experience.

What we learned

We learned the importance of communication and organization. Despite our team being spread out worldwide, we communicated well and stayed on task and within the scope of our project.