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By Noether
Noether is a perpetual futures exchange on Stellar. Live on testnet with 5 Soroban smart contracts, a trading frontend, and an automated keeper bot. This submission funds three phases to reach mainnet.
Phase 1 — Trading Engine Upgrades
-Cross-margin mode, advanced order types (stop limit, trailing stop, reduce only), and maker/taker fees with volume tiers.
-Stellar usage: All margin logic, fee tiers, and volume tracking run as on-chain Soroban contract state. Order execution is automated by a keeper bot submitting Soroban transactions.
-Impact: Capital-efficient trading attracts serious traders; competitive fee tiers incentivize volume and liquidity.
Phase 2 — Developer Tooling & Vault Ecosystem
-Public REST + WebSocket APIs, Python/TypeScript SDKs, user-created trading vaults, multi-wallet support (Freighter, Lobstr, xBull, Hana), and on-chain referrals.
-Stellar usage: APIs read from Soroban RPC and Horizon, and submit signed Stellar transactions. Vaults are a new Soroban VaultFactory contract. Referral fees are tracked and distributed on chain.
-Multi-wallet uses Stellar's standard transaction signing interface.
-Impact: Unlocks programmatic trading for market makers and bots — critical for liquidity. Vaults create a copy-trading layer driving TVL and user retention.
Phase 3 — Mainnet Launch
-Production 3-layer oracle (5 CEX sources cross-validated by Reflector, DIA, and Band on-chain), partial liquidation with insurance fund, mainnet deployment with 10+ pairs, mobile-responsive
frontend, and full documentation.
-Stellar usage: All contracts deployed to Stellar mainnet with USDC (Circle) as collateral. Oracle cross-validation uses Stellar-native oracle providers (Reflector). Insurance fund and partial
liquidation are new Soroban contracts. Transactions settle on Stellar with ~5s finality.
-Impact: Stellar gets its first perpetual DEX on mainnet — filling a gap that exists on every other major L1 (Solana has 6, Arbitrum has 4, Stellar has zero).
Technical architecture (both current and future): https://drive.google.com/drive/folders/1_W3c5DZy2b4Aj8hQVcCkvObZSqCDBzmv?usp=sharing
$86.2K
Current Traction is visible on Leaderboard Page at https://noether.exchange/leaderboard
Noether is a fully functional perpetual futures exchange deployed on Stellar Testnet today. You can view our X account at https://x.com/Noetherdex
On-chain evidence (Stellar Testnet — all verifiable on stellar.expert):
- Market Contract (trading engine): https://stellar.expert/explorer/testnet/contract/CD4ZEYKAS6OICSECQDTRZU3GDIJYTJYO7UMRP6KULXPHOD6SXGNMHMMO
- Vault Contract (LP pool): https://stellar.expert/explorer/testnet/contract/CD5WYLEHTFHOKPPH2GMNUFW2MK7XIQFKI365G6CBAATYWVNPE3RFYMY3
- Oracle Adapter (price feeds): https://stellar.expert/explorer/testnet/contract/CBDH7R4PBFHMN4AER74O4RG7VHUWUMFI67UKDIY6ISNQP4H5KFKMSBS4
- NOE Token (LP shares): https://stellar.expert/explorer/testnet/contract/CD7VRBXIDYP2C2F2AZZL242GY4PRDVDH2BG3LAN2ASXYUXCPHWQJTDP5
- USDC Token (collateral): https://stellar.expert/explorer/testnet/contract/CA63EPM4EEXUVUANF6FQUJEJ37RWRYIXCARWFXYUMPP7RLZWFNLTVNR4
Codebase scope: 5 Soroban smart contracts (4,100 lines of Rust), full Next.js 14 frontend (15,000 lines of TypeScript), and an autonomous keeper bot handling oracle updates, liquidations, order execution, and funding rates. Please check the website.
Market validation: There are currently zero perpetual DEXs on Stellar. The perp DEX market has grown to $21B market cap with $1.2T/month in trading volume across other chains. Stellar has 428K monthly active accounts and 2.3M daily SDEX trading operations. Active traders with no leverage option. Noether fills this gap as a one of the first movers.
Check that: https://www.youtube.com/watch?v=ciIa1wRZ4Z8
1. Cross-Margin Mode
Description: We will upgrade the Market smart contract to support cross-margin trading alongside the existing isolated-margin mode. Cross margin shares collateral across all positions under one account, using total account equity (balance + unrealized PnL) for margin calculations. Users will be able to toggle between cross and isolated mode per position.
Measurement:
- A user can open 2+ cross-margin positions sharing the same collateral pool.
- Unrealized PnL from one position is available as margin for another.
- Liquidation triggers when total account equity falls below aggregate maintenance margin.
- Unit tests pass for all cross-margin scenarios (multi-position, liquidation, partial close).
2. Advanced Order Types & Execution Modes
Description: We will extend the order system with Stop Limit, Take Limit, Trailing Stop, and Reduce Only orders. We will add Time-in-Force options (GTC, IOC, Post Only) to all limit orders. We will upgrade the keeper bot to monitor and execute these new order types.
Measurement:
- All order types testable on the frontend with dedicated UI controls
- Keeper bot executes trailing stops and stop limits correctly on testnet
3. Maker/Taker Fee System with Volume Tiers
Description: We will replace the flat 0.1% trading fee with a maker/taker fee model. Maker orders (limit orders resting on the book) will pay lower fees than taker orders (market orders). We will implement 4 volume-based fee tiers using 14-day rolling volume per user, stored on-chain.
Measurement:
- Base fees: 0.02% maker / 0.05% taker deployed on testnet
- Volume tracking: 14-day rolling volume calculated per address
- 4 fee tiers functional: Tier 0 (base), Tier 1 (>$1M), Tier 2 (>$5M), Tier 3 (>$25M)
- Fee tier displayed on frontend with current user's tier and volume
- Smart contract unit tests verify correct fee calculation at each tier
Budget: $17,240
1. REST API for Programmatic Trading & SDK
Description: We will build a public REST API server that exposes Noether's trading functionality for algorithmic traders and market makers. We will create endpoints for order placement/cancellation, position queries, account balance, market data (orderbook, recent trades, candles), and historical data. This will include API key authentication and rate limiting.
Measurement:
- A user can open 2+ cross-margin positions sharing the same collateral pool.
- Unrealized PnL from one position is available as margin for another.
- Liquidation triggers when total account equity falls below aggregate maintenance margin.
- Unit tests pass for all cross-margin scenarios (multi-position, liquidation, partial close)
2. WebSocket API for Real-Time Data
Description: We will build a WebSocket server that streams real-time data to API consumers. We will implement channels for live orderbook updates, trade feed, position changes, price ticks, and account updates. This will enable market makers and trading bots to react to market events in real-time.
Measurement:
- WebSocket server deployed alongside the REST API
- Subscriptions work per trading pair
- Data latency under 500ms from on-chain event to WebSocket delivery
- Documentation with connection examples in Python and TypeScript
3. User-Created Vaults (Vault Leaders & Depositors)
Description: We will extend the vault system to allow any user to create and manage a trading vault. Vault leaders will trade using depositors' pooled capital and earn a 10% profit share. Depositors will earn proportional returns. We will build a vault marketplace page showing all vaults with performance metrics (APY, TVL, max drawdown, trade count).
Measurement:
- Vault factory smart contract deployed on testnet
- Vault leaders can trade from their vault's funds via the trade UI
- Leaders must maintain minimum 5% of vault balance at all times
- Vault marketplace page listing all vaults with: name, APY, TVL, drawdown, depositor count
- Comprehensive and individual vault page showing PnL history, the amount of open positions and trade history
4. Multi-Wallet Support & On-Chain Referral System
Description: We will integrate Lobstr, xBull, Albedo and Ledger Wallet alongside existing Freighter support using a unified wallet adapter. We will build an on-chain referral system where referrers earn 10% of referred users' fees and referees get a 4% fee discount, tracked in the smart contract.
Measurement:
- Users can connect and trade with Freighter, Lobstr, xBull, Albedo and Ledger Wallet.
- Referral code generation: users with more than a specific amount of volume can create a unique code
- Referred users automatically receive fee discount
- Referrers earn from referred users' fees
- Referral dashboard page showing earnings, referred users count, and claim button etc.
Budget: $25,800
1. Production-Grade Multi-Source Oracle
Description: We will upgrade the oracle from single-source to a 3-layer accuracy-first architecture. Layer 1: Our keeper bot will fetch prices from 5 CEXs (Binance, OKX, Bybit, Kraken, KuCoin) every 3 seconds, calculate a weighted median, and push on-chain. Layer 2: We will integrate Reflector, DIA, and Band Protocol as on-chain trust anchors to cross-validate Layer 1 — if deviation exceeds thresholds, trading will auto-pause for that asset. Layer 3: We will implement cached price fallback with auto-pause if all sources fail. The architecture will be modular and Chainlink-ready via a single admin config change when Chainlink launches on Stellar.
Measurement:
- Keeper fetches from 5 CEXs simultaneously, pushes weighted median every 3 seconds
- Faulty or deviating sources are auto-excluded per update cycle
- Auto-pause triggers when cross-layer deviation exceeds threshold or all sources fail
- Oracle health monitoring endpoint with per-source status and alerts
- Chainlink-readiness verified by swapping primary oracle via admin function
2. Mainnet Smart Contract Deployment & Migration
Description: We will deploy all Soroban smart contracts (Market, Vault, Vault Factory, Oracle Adapter, NOE Token) to Stellar mainnet. We will configure production parameters (leverage limits, fee rates, maintenance margins). We will set up production keeper bot infrastructure with monitoring, alerting, and automatic restart. We will integrate with mainnet USDC.
Measurement:
- All smart contracts deployed to Stellar mainnet
- Contract addresses published in documentation and frontend config
- Production keeper bot running with 99%+ uptime monitoring health checks and alerting
- Production parameters configured: 25x max leverage, maker/taker fees, 4 trading pairs minimum (BTC, ETH, XLM, SOL)
- Emergency pause mechanism tested and functional
3. Production Frontend, Documentation & Additional Trading Pairs
Description: We will polish the frontend for production: performance optimization, error handling, mobile-responsive trading interface, loading states, and graceful degradation. We will add 10+ new trading pairs. We will write comprehensive user documentation and developer API documentation.
Measurement:
- Frontend loads in under 3 seconds on standard connection
- Full mobile-responsive trading experience for both IOS and Android
- 10+ total trading pairs live on mainnet
- User documentation: Getting Started guide, Trading guide, Vault guide, FAQ
- Developer documentation: REST API reference, WebSocket API reference, SDK quickstart
- All docs hosted
- Error boundary and graceful error handling on all pages
4. Partial Liquidation System & Insurance Fund
Description: We will implement partial liquidation (close 20% of position first, allow 30-second grace period before full liquidation) and establish a protocol insurance fund that accumulates a portion of liquidation proceeds to cover extreme market events.
Measurement:
- Partial liquidation: positions >$1,000 are 20% liquidated first with 30-second cooldown
- Insurance fund smart contract deployed, accumulating 10% of liquidation proceeds
- Insurance fund balance viewable on the frontend stats bar
- Full liquidation cascade tested on testnet with multiple simultaneous positions
- Developer documentation: REST API reference, WebSocket API reference, SDK quickstart
- Unit tests for partial liquidation edge cases such as insufficient margin after partial and multiple rounds
Budget: $34,480
YAHYA EMIR SOYER, CO-FOUNDER & CEO ( https://yahyayahya.com )
A Smart Contract Developer with 2 years of experience in Web3, specializing in Soroban and Rust development on the Stellar ecosystem. A Mathematics student at METU, he has participated in 6 hackathons and secured 3 wins, building projects spanning ZK proofs, decentralized insurance, and on-chain escrow systems, including 2 projects built on Soroban. He leads a 20-member Research Committee at ODTÜ Blockchain, directing research on Zero-Knowledge Proofs and DeFi. As a Chainlink Advocate, he bridges academic research with industry application, bringing cross-chain expertise across Stellar, Chainlink Oracles, and CCIP into Zero-Knowledge based DeFi protocols.
MERT CICEKCI , CO-FOUNDER & CTO ( https://merth.xyz ) DevRel Engineer and Full Stack Web3 Engineer with 5+ years in Web3. Contributor to Coinbase x402 and OpenClaw on GitHub, strengthening open-source infrastructure and tooling. Within the Stellar ecosystem, he mentored at Turkey’s largest IRL Web3 hackathon Stellar HackPera (200+ participants, 70 projects), delivered 9+ developer workshops, and served as Instructor & Judge in the Stellar Full Stack Challenge — directly contributing to developer onboarding, project incubation, and ecosystem growth.
CANKAT, PRODUCT MANAGER ( https://www.cankat.art )
Product Designer and Frontend Developer with a background in game design at Hypixel and Mojang. Combining UI/UX with Web3 infrastructure, he has developed across 50+ networks and secured 10+ wins in 40+ hackathons. Within the ecosystem, he co-founded METU Blockchain as Design Coordinator, delivered workshops for Arbitrum, and collaborated with Avalanche. Currently building NODYN Labs, directly contributing to product incubation and ecosystem growth.
**MERT KAYA, ADVISOR (X: Web3Catalysor) ** Secured $100K+ in non-dilutive grant funding and built a 120K+ Web3 community network across multiple ecosystem initiatives. Stellar Kickstart Grantee (Cohort #34, $10K) and former Stellar Türkiye Chapter Leader, leading regional developer growth and ecosystem expansion. Cofounder, CEO & Lead Developer at Blockera Corp, powered by Founder Institute, Connected, Techstars-affiliated programs, and Cardano Catalyst, and a Hedera ecosystem grant recipient. Blockchain Software Developer at GlobalCodeLabs, contributing to production-grade Web3 infrastructure and cross-chain integrations.
cankat
Yahya
Mert
Mert Kaya
No other submissions.