Qilin Protocol
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Qilin Protocol

Qilin Community Call #8 Recap

Qilin’s community call #8 was held on the 1st of July. In this call, we discussed how Qilin might enable permissionless index creation. Below is a recap of the call, hope you enjoy.

Market needs volatility, Qilin creates volatility. Learn more

Qilin Progress of Week 1, July

  1. Redeployed the contract for V1 mainnet. Several fixes in new contract are as follows:
  • Improved settlement logic;
  • Improved liquidation procedures;
  • Modified the formula of Rebase Funding Rate. Learn More

2. Testing Rebase formula for V2

3. UI for V2 including new rebase interface design to display net exposure and rebase rate in real time

4. Scenario testing for V2 with focus on slippage calculation under 0 and L/S dominate net exposure assumptions

5. V3 features brainstorm with focus on solving issue of whales squeezing smaller LP profit, possible solution include using nested LP pools

Discussion: Idea of Issuing Composable Index Contracts on Qilin

Qilin potentially contains 2 layers of business architecture

  • Initial, core business of Altcoin inverse contract. This provides a self contained protocol that can generate trade flow, as well as information flow
  • Also a secondary layer which contains synthetic products such as indices and ETFs, built on top of information flow provided by the core business layer. As our initial layer is tamper-resistent and premissionless, this synthetic is also premissionless. Users will be able to create their own indices and punt/hedge exotic risks are they see fit. These are potential features for V3, slated to ship early 2022.

Two benefits of synthetic products such as indices:

  • Improve efficiency of fund utilization. Lets use an example: say I want to punt on exchange tokens UNI and SUSHI. I could create an index which tracks those 2 tokens and trade against the pools like normal perps.
  • Other exotic and personalised needs whether its for hedging or speculation, the trader would be able to go long or short with leverage and create their own indices and Qilin will work in the background to provide oracle, settlement and liquidity, all permissionlessly.

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Decentralized risk-optimizing protocol for derivatives trading

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Qilin

Qilin

Decentralized risk-optimizing protocol for derivatives trading.

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