Oiler community update #3 — Oct 2021

Greetings Oilers!

In todays series, we would like to share the latest updates from the team, give you an overview of what they have been working on, as well as bring to light on what is coming, and the areas they will be focusing on in the future.

On the research side, there were major improvements happening such as, exploring and addressing potential problems on protocol and market design by prototyping and developing simulations. An extensive research was done on how to mitigate market manipulations.

The team has integrated one of the common practices to their work environment. Focused on architecture to connect contracts with backend and frontend, they have separated and universalised the contract connectors, so the backend and frontend team won’t have to depend on contract implementation as much as they used to previously.

Some challenges that were faced along the way were the process of making Ethereum calls to blockchain more responsive, where the multi call function was explored to integrate into the current architecture.

One of the most present issues was addressed and resolved by the Oiler development team (the infamous “BigNumber” issues and decimal conversion). A new library was created that incapsulates big number and natively supports decimals and all kinds of conversions. This library mitigates the risk of mistakes because of the decimals conversions and make it much easier to work on the technical frontend. That will eventually become open-source so the whole Ethereum community will be able to benefit from it.

Team was simultaneously exploring Solidity side of implementation, and in parallel, integration of contracts in Cairo because of a very probable gas costs in pure Solidity, considering the amount of computations that will have to be done. Great work has been done on implementing ERC-721 standard contracts in Cairo and Account Abstraction.

One of the other focus from the team was also conducting mocks for the UI. Inspired by Uniswap v3 contract structure, some ideas were taken in consideration and partially implemented into contracts, making things better organised, moving the entire Math to pure Functions.

A few components on frontend are now lazy loaded which means, we aren’t loading unnecessary component on app start.

What’s next?

The following are just some of the items we are working on:

• To conduct simulations of the market that is being built
• Continue with advanced research on the protocol parameters of the product
• Continue working on Cairo & develop smart contracts
• Backend and frontend refactoring
• Finalise the integration of the SDK

Last but not least, our team took part at the EthLisbon hackathon over the weekend and was selected as one of the winners. This was a great opportunity to meet and share the vision of Oiler to the wider Ethereum and DeFi community.

Until next time, stay tuned for our next update!

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Links

Oiler’s Website: oiler.network

Oiler GitBook: https://docs.oiler.network/oiler-network/

Oiler’s Medium: https://medium.com/oiler-network

Oiler’s Twitter: https://twitter.com/OilerNetwork

Oiler’s Discord: https://discord.gg/bxMsvVTgJp

Oiler’s Telegram: https://t.me/oiler_official

Oiler’s Coingecko: https://www.coingecko.com/en/coins/oiler