Project Stage
Category
Based in
Team size
Active since
Neptunus is a DEX Aggregator on Stellar that allows users to execute trades on multiple liquidity sources simultaneously. Which enables users to get better rates.
What Problems We are Trying to Solve?
Fragmented Liquidity is a big problem in crypto, especially on Stellar. It gives users worse price impacts and liquidity on their trades. Which may not be high for low-amount trades, but pretty considerable for high-amount trades. Networks / Pairs with low liquidity discourage big traders to enter their money.
Neptunus trying to solving this by executing trades on multiple market pairs on SDEX. It spreads the price impact on different market pairs, therefore benefitting the users. From our research, this practice could up to doubling the amount of virtual liquidity a token have.
How Does It Work?
When users use our interface, we analyze the best trade routes on SDEX and the best ways to split the trade. All calculations are executed on the clients to ensure greater decentralization.
How Do We Use Stellar?
We are literally aggregating the SDEX Liquidity. This app are basically stellar-native in principle.
Current State of SDEX
SDEX are comprised of 2 parts for each pairs, Orderbook And Liquidity Pools. Which means liquidity are fragmented. This make price impacts higher, which is bad for users. Thankfully we can spread the price impact of a trade in one transaction by splitting that trade to 2 operations, one goes to liquidity pools, and the others to orderbook. This will be simple if the trade doesn’t need go through another asset as intermediaries, so in solving this problem we took a generalized approach.
Algorithm Quick Overview
Our algorithm works kinda like mini-horizon. We request paths with best liquidity from horizon and then request the corresponding orderbook and liquidity pool state for each assets. We split the trade into 48* operations , and we simulate which path will be taken for each operation. Note that we can’t use horizon directly for this, since horizon only returns paths based on the current ledger state. But for every operation we execute, it alters the state.
*this is an arbitrary number, but the bigger the better
What Tradeoff are you Making?
Since we are splitting trades into multiple operations, we are paying more transaction fees than usual. But since Stellar’s fees are so cheap, it’s negligible. Anyway we got safety checks to ensure the profit that came from splitting are more than the extra transaction fees.
How Do We Make Money?
We plan to take a certain percentage of the trade profit. We plan to be a public good for Stellar Ecosystem
Our Plan Ahead
We plan to make a package/sdk to make it easy for developers integrate us into their projects(something like Uniswap Widget/Jupiter SDK). We also plan to integrate soroban in the future if the DEX activity there is active.
Muhammad Fachrudin Firdaus (Fahrul#7469)
Back-end
Github: @firdausfarul
Mohammad Ferry Husnil Arif (Ferry#1247)
Frontend
Github: @FerryHusnil
Aushaaf Fadhillah Azzah (NeoZap#7017)
Back-end
Github: @NeoZap
Rico Muhammad Nashrullah
Front-end (Freelance)
The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on December 5, 2022 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on July 5th as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
**The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on December 16, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on September 27, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
* The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on the date of transfer as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
*This budget request has not been fully awarded to the project. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.