Ace - RWA Perps with Stock Token Margin

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Tech Stack

React

Web3

Ethers

Solidity

Node

Description

Ace is a stock token margined perpetual dex, deployed on Robinhood Chain testnet. The first market is AMZN, with 20x leverage. Traders post USDG or the AMZN token as margin.

Ace follows a gmx-style model where LPs can earn fees from the corresponding perps market. For instance, for USDG-AMZN pool, LP is able to earn yields from trading fees and trader PnLs.

Anyone can try it with testnet Amazon token from the Robinhood faucet and testnet USDG from Paxos. The minimum order is $10.

Ace is now live on robinhood testnet at: https://ace-trade.xyz

Progress During Hackathon

Ace started this buildathon as a prototype with one market - AMZN-USD, backed by AMZN testnet token and USDG. In the Open House, we iterated on the core contract with multiple improvements. 1. Reserving Fee (Borrow Fee): the resercing fee is now charged on the crowded side only, just like GMX 2. Price Impact: Price impact rebates are instantly reflected in collateral you get back, an improvement from GMX model where trader has to claim. 3. Separation of Roles: We created a few more roles - Keeper, Guardian, Operator, to make contract operation easier to manage. 4. SwapOrder: We implemented swap order, which would address oracle related arbitrage issue. 5. Weight and Price Impact for LP: we apply price impact to spot price to incentivize traders to balance the pool at the ideal ratio. What is live today is a tested prototype on Robinhood Chain testnet: one market, a shared LP pool with AMZN-USDC, a AMZN-USD market, keeper-filled orders, and a trading interface.

Fundraising Status

Ace has not raised fund yet.