For the Virtual Chainlink Hackathon, our team have submitted the LINK Total Return Swap. We’ve built a simple Defi platform that allows Makers and Takers to enter into a customisable Total Return Swap smart contract.
Built on Ethereum, powered by Chainlink, our smart contract solution allows Chainlink node operators who have LINK locked in penalty deposits for the duration of service agreements to hedge their exposure to the price volatility of the LINK token. By hedging their exposure to market volatility, node operators will be able to focus on providing secure high quality data that the network of smart contracts and Dapps require. For a demonstration of how the contracts work, please watch our video.
Within a brief week and a half period we were able to hack up our idea and turn it into a usable, useful application. Integrating our smart contracts with the Chainlink network was a simple, methodical and precise task — as many other hackathon entrants will have found. The ease of integration is a testament to all the hard work that the Chainlink team have been doing. As more developers learn how to integrate with Chainlink, the network effects will secure the decentralised oracle solution as the smart contract standard.
To read up more on our project, please read our LitePaper which details the design considerations, future improvements and also outlines the contract architecture. Our contracts are open-source, so we encourage developers to inspect the code and get in touch with us if they have any questions. Keep up to date with future SDL developments on Twitter.