Zeta’s Hackathon Recap

Highlights

  • We’ve had options creation, settlement, trading, AMM and leveraged trading features all built on-chain and deployed to the Solana Devnet (phew that’s a lot of components!)
  • Built a fully functional front-end user interface with price charts, trading tabs, position management, account displays and a global leaderboard.
  • Launched our first paper trading competition! We had over 3000 signups for the Zeta binary trading competition, and over 50 lucky participants. We got some great feedback on implementing a mobile friendly experience, educating users on powerful ways to use leverage, and some upgrades into the trading interface we’re looking to work towards for our full Devnet release.

Key Features Delivered

  • Our fully functional, user-friendly trading interface. We’ve handled Solana wallet integration, candlestick charting based on Serum trades (thanks Mango!), built an AMM-based trading interface and developed a real-time position management framework. The highlight of all this though is our global leaderboard, which provides a community based ranking of our biggest winners. Shoutout to @hodlKRYPTONITE who took home first place!
  • Options creation, auto strike rolling and settlement. The team here at Zeta have been able to build a program that sensibly determines generation of multiple strikes for each expiry, and automatically creates new expiries and strikes once the current one has finished. We’ve also innovated on settlement with the help of Pyth’s uncertainty value — if the strike of that option is within the confidence interval of the spot price at settlement, we will settle at 50 cents!
  • Leveraged trading and sustainable liquidation system. We’ve been able to create a robust leveraged trading solution by combining traditional margin factors with an AMM-based liquidity measure to prevent platform overbankruptcy. Users can experience up to 10x leverage on the Zeta platform from the start.
  • Novel Black-Scholes binary option AMM. Not only have we built an on-chain pricing mechanism able to price any strike at any time, we’ve also built Solana’s first normal CDF function and innovated upon math library components like the natural log function, and floating point exponent capability.

What’s next?

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Zeta (ζ) is the premier under-collateralized DeFi derivatives exchange, providing liquid derivatives trading to individuals and institutions alike.

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Zeta ζ

Zeta ζ

Zeta (ζ) is the premier under-collateralized DeFi derivatives exchange, providing liquid derivatives trading to individuals and institutions alike.

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