Decentralised trading application

OVERVIEW

About the business

Our client is a Fintech company Accel that offers advanced trading tools for DeFi traders and EVM-based networks. It provides immediate value to family offices, financial institutions, brokers, funds, and advanced retail traders.

Accel had a new product in mind that would bring additional value into its product ecosystem. The idea was to create a desktop application that would provide users with a more secure and convenient trading alternative.

The core point of the app is that a user's private key will be stored only on a personal computer or personal cloud server. A user will be able to set a limit on buy/sell orders, as well as stop loss orders in the application. The application will monitor the blockchain and prices on the DEXes. When the market price matches the price set in the order, the app will try to place a corresponding trade on the DEX.

The significant difference is that a user will not need to have a computer at hand or access the wallet on the phone. The application itself can sign transactions on behalf of the user at the moment when the price reaches the necessary limit. Once the limit order is fulfilled, users will receive a notification that will provide a link to the transaction hash and transaction details.

OVERVIEW

Project tasks

OVERVIEW

Project team

Team: 2 UI/UX designers, 2 Front-end engineers, Web3 Full-stack engineer, Solutions Architect, Project manager, Business analyst, DevOps, QA Engineer.

Design and development are done in parallel after the research and discovery phase.

OVERVIEW

Tech stack

PROJECT JOURNEY

Product development

Accel. Import a wallet

Security requirements

In this product a vast part of development is tied to the security. The main advantage of the application is the absence of a single centralized server that would store the user’s private keys in one place. When user's private key is be stored only on a personal computer or personal cloud server, it significantly reduces the risk of hacking. It also eliminates the possibility of various possible attacks from the start.

Since we developed a front running bot, there were a couple of restrictions. For example a user had to keep the application and computer running all the time. Otherwise, the bot could not access the blockchain to monitor prices and execute transactions correspondingly.

However, we found an option to build a server bot that clients can run on their servers via the terminal. In that case each user can purchase its own private server that will store its private key. As a result, a user can turn a computer off and do not bother about missing the moment when the price approaches the necessary one.

Platform key features

Limit orders:
Setting limit orders to buy/sell cryptocurrency on decentralized exchanges

Stop loss:
Automatically sell tokens once a stop price has hit to minimize losses

DEX aggregator:
Buying and selling tokens using the best price across multiple DEXes

Slippage tolerance:
Setting the slippage (%) which is ready to be accepted during swapping

Front running bot:
Running a technology to protect users from losing assets

Off-chain:
All transactions will be conducted within the application

High security:
Safety because of the absence of a single centralized server

Accel. Platform UI

User flow

The user installs the application on their computer;

The user imports their wallet via adding/ importing seed phrases;

The user creates a password to log in;

The user needs to purchase the NFT on the website to have the opportunity to use the application;

If the user has the NFT, they can join the application;

Then the user can set a limit order or stop loss.

Accel. User flow.

Accel. Order screen

OUTCOME

Outcome

Since we developed a front-running bot, there were a couple
of restrictions. For example, a user had to keep the application and computer running all the time. Otherwise, the bot could not access the blockchain to monitor prices and execute transactions correspondingly. However, we found an option to build a server bot that clients can run on their servers via the terminal. In that case, each user can purchase a private server to store its private key.
The user can turn a computer off and not bother about missing
the moment when the price approaches the necessary one.

As a result, our team created a complex product where users can easily and intuitively navigate and increase platform attendance through process optimization.