Qilin Community Call #7 Recap
Qilin’s community call #7 was held on the 24th of June. In this call, we discussed how Qilin will try to become a key primitive for crypto derivative trading. Below is a recap of the call, hope you enjoy.
Qilin Progress of Week 4, June
- Special announcement: V1 mainnet contracts will be redeployed next week
- Fixed liquidation logic caused by USDC precision, which resulted in liquidator not getting due payment
- Updated rebase formula
2. Started working on V2 mainnet UI, also tested V2 contracts;
Details surrounding the new V1 mainnet will be explained in a separate Medium piece. We apologize for any inconvenience caused.
Topic Discussion: can Qilin grow into a key crypto derivative primitive?
The ultimate aim for Qilin is to become an information layer on which other projects can build iteratively and permissoinlessly. This layer may include the myriad of funding rates thats keeping LPs of different trading pairs safe. It maybe the additional volatility information trading behaviour revealed on long tail small cap assets.
Whatever it is, we will ensure it is build from decentralised inputs end to end.
- We will use Uniswap V3’s TWAP feed as oracle for our vanilla and inverse trading pairs
- The benefit of TWAP is that it is generated by decentralised spot trading making it a blockchain native oracle
- This means all our trades are also permissionless as pairs can be listed as long as there is a TWAP for it
- The perp trading behaviour will then create a new information layer that is completely on chain and available for further innovation, just as spot trading behavour created the TWAP which enabled Qilin.
