1.7 KiB

Raw Blame History

Hermes Roadmap

MVP

The Minimal Viable Product's goal is to showcase that non-custidial CFD trading on Bitcoin is possible.

Scope

Roles

Taker: Cannot create and publish orders, but just takes what is published by a Maker
Maker: Can create and publish orders
Oracle: Signs and publishes attested prices at specific points in time

In scope

For the MVP there is only one Maker that takes the selling side and creates sell orders. The maker does not do any automation. The maker dictates the price.

A user is always in the role of a taker. The user has a simple user interface and can take the maker's order there. The taker can specify a quantity, the leverage is fixed to x5. For the MVP the leverage is fixed to x5 for both sell and buy orders. The oracle is needed for attestation of prices at a certain point in time. The oracle is to be run by a separate party that is neither the taker nor the maker.

Overview sequence diagram:

Constraints:

♻️ ... expected to be reusable for later iterations

♻️ Protocol: Non-custodial using DLCs
- On-chain (testnet)
Software Setup
- Taker
  - Local running daemon that exposes API + web-interface for UI
  - Can take a sell order (represents the buy side)
    - Specify quantity
    - (fixed leverage of x5)
- Maker
  - Can create a sell order (represents the sell side)
  - Sell order publication is done manually
  - Take requests are accepted manually
- ♻️ Oracle

Out of scope

Anonymity
Orderbook
Multiple makers

1.7 KiB Raw Blame History