This is an implementation of Mission #1 and Mission #2 for the Gateway Web3 Security Course.
The protocol allows users to use USDC as collateral to open long or short positions with a maximum leverage of up to 15x.
The first mission focuses on implementing roughly 50% of the basic functionality of a decentralized perpetuals protocol.
| functionality | implementation | Testing |
|---|---|---|
| Liquidity Providers can deposit and withdraw liquidity. | ✅ | ✅ |
| A way to get the realtime price of the asset being traded. | ✅ | ✅ |
| Traders can open a perpetual position for BTC, with a given size and collateral. | ✅ | ✅ |
| Traders can increase the size of a perpetual position. | ✅ | ✅ |
| Traders can increase the collateral of a perpetual position. | ✅ | ✅ |
| Traders cannot utilize more than a configured percentage of the deposited liquidity. | ✅ | ✅ |
| Liquidity providers cannot withdraw liquidity that is reserved for positions. | ✅ |
The second mission focuses on implementing the rest of the basic functionality of a decentralized perpetuals protocol.
| functionality | implementation | Testing |
|---|---|---|
| Traders can decrease the size of their position and realize a proportional amount of their PnL. | ✅ | |
| Traders can decrease the collateral of their position. | ✅ | |
| A liquidatorFee is taken from the position’s remaining collateral upon liquidation with the liquidate function and given to the caller of the liquidate function. | ✅ | |
| It is up to you whether the liquidatorFee is a percentage of the position’s remaining collateral or the position’s size, you should have a reasoning for your decision documented in the README.md. | position’s size | |
| Traders can never modify their position such that it would make the position liquidatable. | ✅ | |
| Traders are charged a borrowingFee which accrues as a function of their position size and the length of time the position is open. | ✅ | |
| Traders are charged a positionFee from their collateral whenever they change the size of their position, the positionFee is a percentage of the position size delta (USD converted to collateral token). — Optional/Bonus |
Precision Loss.
Some functions did not take into account the precision of USDC.
Some edge cases may result in traders being unable to realize PNL.