Project title: Papaya anchor (apay.io)
Summary: Anchor for BTC, LTC, ETH, KIN and other cryptocurrencies and tokens
General goals for apay:
- Make most popular crypto tradable on SDEX
- Improve SDEX liquidity
Specific goals for the latest updates:
- Make all our code open-source, so everyone can use it for their projects
- Turn apay.io from static website with instructions into a functional exchange, rival to changelly, shapeshift and others
- Improve liquidity by attracting user funds and making opportunities for users to make money by providing liquidity
15 Feb - MVP of new anchor backend, functional for Testnet BTC
01 Mar - MVP of new frontend
15 Mar - Anchor backend fully functional for assets already supported by apay, like ETH, ERC20 tokens + KIN
01 Apr - New market-making service, inspired by uniswap, rewarding users for participation
15 Apr - Interactive flow (sep24) implemented for anchor backend
The latest batch of changes is a full rebuild of our platform:
Anchor backend - started from scratch taking into account previous experience of running anchor for the past 2.5 years.
I'm making it in node.js to make sure that as many people as possible can look through the code and understand what's going on. At the same time, security-sensitive code is isolated inside job-queue worker and can be placed on a separate server/environment or written in a different programming language.
There are more security features, including setting database user permissions for append-only, to make sure that transactions in the database cannot be changed due to a bug in the code, by an employee or a hacker.
New frontend - is an attempt to make it easier to use Stellar DEX to exchange one currency to another, even if the user doesn't have a funded Stellar account or never heard of Stellar before.
It also incorporates new account-view for Stellar users, which helps with deposits/withdrawals hopefully in a less confusing way.
Market-maker service - for people who aren't technical enough to run something like kelp bot. Users will be able to commit capital and bot will do the trading following a simple, but effective algorithm. Users can withdraw their funds back at any time, and make some return on their investment. Provided capital is going to help liquidity on Stellar, while users funds are stored safely in a cold-storage.
https://github.com/apay-io/stellar-anchor - new open-source anchor backend
https://github.com/apay-io/apay-io - new frontend with exchange feature
Tags: anchors, node.js