KeepChallenge is from Protect privacy hackathon Of KeepNetwork from Gitcoin. I joined and start work late on this challenge. So, It is really intresting to create bridge between bitcoin and ethereum chain.
In this task, I didn't build anything specifically. But I want to play and want to dirty my hand with this protocol that how can I integrate tbtc in ethereum. So, I can integrate in my existing project like other erc20s. So, I played with the existing repo on github and its really useful and worth it.
And one Usecase comes in my mind that I have explain below. Please read below this usecase.
One use case in my mind for tbtc or btc thst i want to share. We can create automate trading market on top of it using uniswap.
If you know, Uniswap work with pairs like ERC20-ERC20 or ERC20-ETH. So, If you want to trade you need to pass minimum return value for safety, deadline and Path of the token. So, we can create automated platform. Where we can remove this hurdles like safety value, deadline or path.
For e.g. From the platform Send 1 tbtc to pair(e.g. tbtc/eth) and it will execute a single transaction tbtc -> eth swap for you if the slippage rate satisfied <=0.5%(thresold) between liquidity reserve of uniswap and tbtc/ETH price feed from any oracle protocol(like, Uniswap-oracle or chainlink oracles) then automated trade happen from tbtc to eth.
Even using platform, Liquidity providers can manage pools like they can deposit or sell liquidity of tbtc to earn interests.
So, we can create market for tbtc or btc where traders and Liqudity providers can interact with tbtc. And can create automated trading market for it.
I have just played with this repo for knowing protocol and rewards(hahaha). I didn't start to work on this. But I want to share this thoughts with you. And I will surely work on this statement.
[email protected]
Twitter: RadadiyaSunny