Wawasan Proyek: Protokol Injektif

Suntikan Protocol: The Leading Decentralized Derivatives Exchange

Suntikan is a fully decentralized layer-2 derivatives platform; it offers users a trade execution coordinator (TEC) and a decentralized order book. Suntikan leverages layer-2 technology to compile transfers on the Suntikan Chain using a EVM-compatible environment. The EVM is used on top of the Cosmos-SDK (based on ethermint), allowing scalable implementation on the Ethereum Jaringan.

Mengapa Desentralisasi?

Karena Crypto menjadi semakin terdesentralisasi, pertukaran harus mengikutinya. Pertukaran Terpusat Tradisional (CEX) memiliki banyak kelemahan terkait penyimpanan koin, pelanggaran identitas, waktu henti server, biaya, dan bahkan perdagangan orang dalam.

DEX’s such as injeksi protocol negate many of these risks. To begin, users on DEX’s can keep custody of their assets on hardware wallets. Users don’t need to worry about identity risks as Suntikan is open and permission less; there is no “know your customer” (KYC). On top of this, users don’t experience the taxing trading fees. Lastly, DEX’s remove a central entity that can receive asymmetric information and bolster more inside trading in markets.

Meskipun DEX menawarkan banyak manfaat, penting juga untuk memahami kelemahannya. Karena kurangnya adopsi awal, DEX menghadapi masalah likuiditas. Hal ini menyebabkan spread besar pada pasangan likuiditas rendah. Karena tidak ada pembuat pasar yang memberikan kedalaman ke pasar, kami menyaksikan putaran umpan balik negatif. Kurangnya likuiditas menyebabkan hilangnya pengguna saat ini dan mengusir pengguna baru yang dapat menyediakan likuiditas yang dibutuhkan. Selain itu, DEX mudah untuk “dijalankan di depan”, karena sistem bukti kerja (POW) dengan waktu blok rata-rata 15 detik, pengguna dapat menempatkan pesanan mereka pada prioritas yang lebih tinggi untuk penambang. Pengguna yang melakukan ini akan dapat "mendahulukan" DEX untuk mendapatkan "pengisian" sebelum DEX dan mendapat untung dari langkah tersebut.

Dengan itu dikatakan, Suntikan has introduced its features to combat these common issues that DEX’s face.

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Fitur Utama:

• Lapisan dua turunan platform yang sepenuhnya terdesentralisasi

• Penciptaan pasar terbuka dan tanpa izin

• Teknologi lapisan-2 memungkinkan latensi rendah dan biaya gas nol

• Complete governance system with voting rights to those who hold NJI token

Suntikan Protocols Innovation

The injeksi protocol boasts a few key innovations that separate itself from other DEX’s. These can be split into four separate domains, the client, service, Cosmos, and Ethereum. These respectively make up the backbone of the Suntikan protocol platform.

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Client Domain: Suntikan Exchange Client

Ini terdiri dari Suntikan Exchange Client, which is the frontend that users interact with. The injeksi team has specifically focused on giving their users “a comprehensive yet friendly graphical user interface,” one that can suit all users alike. Overall the Suntikan client provides users a complete decentralized exchange that is open source and accessible by anybody.

Service Domain: Suntikan API & Suntikan EVM RPC

The service domain provides nodes responsible for transaction relay services, data layer processes, and connection to the Suntikan EVM. Suntikan API nodes also simplify the transaction rely approach, resulting in direct interaction. On top of this, the nodes provide data and analytics services compatible with their Suntikan Exchange Client. 

The nodes support the following API services: “Suntikan Derivatives and Spot Exchange APIs for the Suntikan Client, the 0x Standard Coordinator API, the Suntikan Derivatives Protocol Graph Node GraphQL API and other API services required by the Suntikan Exchange Client

Cosmos Domain: Suntikan Chain & Suntikan Penjelajah

This domain acts as the backbone of Suntikan Protocol, consisting of the Suntikan rantai. Itu Suntikan Chain boasts its completely decentralized order book, Trade execution coordinator (TEC), and EVM execution environment with a token bridge to Ethereum. Incorporating an EVM and the Cosmos-SDK, the injeksi protocol executes smart contracts that are both scalable and interoperable on top of Ethereum's Proof-of-Work (POW) system.

The Suntikan Chain incorporates several contracts allowing its users to enjoy all the fruits of decentralized derivates trading.

0x Exchange & Suntikan Kontrak Derivatif

These smart contracts allow users to participate in peer to peer exchanges in spot and derivatives trading. Two contracts are integrated, for spot markets, the 0x V3 Exchange Protocol, and for derivates, the Suntikan Derivates Protocol. Once written in solidity, these contracts can be deployed onto the EVM, where users interact with them through the exchange client.

Kontrak Taruhan

This contract can govern the Suntikan Protocol and process cross-chain transactions

Info lebih rinci tentang kontrak pintar ini dapat dilihat di sini. 

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Ethereum Domain:

The Suntikan EVM Bridge Contracts are smart contracts that ensure stability in the two-way peg between the Ethereum Jaringan dan Suntikan Chain. These contracts facilitate the secured token bridge between ETH ke NJI native tokens.

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NJI Tokenomics

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NJI’s primary purpose serves as a governance token for the Suntikan Protocol. This token will allow users to vote on project proposals regarding the futures protocol, exchange parameters, and protocol upgrades.

Another use-case for NJI is that users will be able to collateralize it. Like stabil coins and other tokens used for margin, users will be able to NJI as margin in their derivative markets. On top of this NJI can be used in collateral backing or insurance pool staking, which will lock users’ tokens but distribute interest on the locked amount.

Di atas ini semua NJI will be used to incentivize market makers and relayers. In this system, makers will pay a .1% exchange fee, and takers will pay .2%. It is essential to understand that market makers will receive a net positive payment in fee rebases to incentivize liquidity, creating a tight spread and a considerable market depth. On top of this, nodes and validators can cater to trades directly through improving API or interfaces, which they will be rewarded for. More information on the formulas used in these incentives can be found di sini.

The remaining exchange fees will be used for an on-chain buy-back-and-burn, almost acting a dividend for NJI users. This is a bit different, but in principal, the burn adds value to NJI pemegang.

Finally, a portion of NJI will be distributed to users based on their notional profits. Users who have the highest notional profit will receive the most NJI to reward those who use the protocol the most. This will be done through a snapshot taken daily, where the tokens will be distributed to users daily.

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Rencana Kerja

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The complete roadmap can be viewed in the image above. I have gone ahead and listed a few key releases to anticipate. For the scale of Suntikan Protocol, the team is working very diligently and has been on schedule for their roadmap. The team has recently completed the first launch of their public testnet successfully. Overall, 2021 is set to be a massive year for Suntikan Protokol.

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Q1 2021

• Testnet publik V2

• Pertaruhan dengan insentif

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Q2 2021

• Jaringan Utama V1

• Beberapa jembatan (Binance Smart Chain)

• Penambangan likuiditas tambahan

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Q3 2023

• Luncurkan 10+ swap abadi & kontrak berjangka kedaluwarsa

• Penambangan likuiditas lintas rantai

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Penutup Pikiran

Secara keseluruhan Suntikan Protocol takes derivatives trading to the next level. Unlike most current DEX’s, Suntikan can preserve traditional order books without compromising on security or speed. If anything, Suntikan improves overall safety and operability as it is a decentralized and permission less protocol. Through incorporating layer-2 scaling measures, NJI is also able to have ample throughput to facilitate trades transaction.

Suntikan protocol solves issues that traditional CEX’s introduce while preserving the novel aspects of them. On top of this, Suntikan can slash fees and even curb insider trading that can occur on traditional exchanges.

Regarding the tokenomics there are a couple of key data points to look into. The first being the fully diluted market cap, close to $300,000,000; this diluted MC is very high, but emissions for NJI will continue for a couple of years. On top of this, there have been two sales of NJI, one at 8 cents and the other at 40 cents. This isn’t the

biggest deal as seed investors most likely are vested, but it is essential to understand that some buyers are already up hundreds of percent on this token. Overall it is not too worrying as NJI provides an actual use case, addressing many crypto trades’ gripes.

Those of you who currently trade on CEX’s should check out Suntikan once launched on the mainnet.