DFINITY Ecosystem | SailFish: A Decentralized Finance for Everyone
With the launch of the DFINITY Ecosystem comes an array of solid DeFi platforms capitalizing on the robust network of the Internet of computers to deliver products and services which includes decentralized financial services that can be classified as one in a million.
Open blockchain platforms DFINITY network is opening the door to a new generation decentralized finance. As a financial system built on trustless protocols which allows builders and users alike to interact exclusively without the need for centralized entity/ies. The open source nature of these protocols gives developers and entrepreneurs the freedom to combine and remix different components to create new products.
Imagine a new decentralized BANK that combines the lending borrowing style of (AAVE) Asset Management (YFI) and an Automated Market Maker (UNISWAP) to form a complete exceptional DeFi experience is the simplest way to describe the concept behind Sailfish Finance.
DECENTRALIZED FINANCE: The SailFish Ideology/Solution
Sailfish is the gateway to open financial services on the DFINITY Internet Computer which aims to create a DeFi experience that is completely decentralized, robust, limitless and open to all. Sailfish is intent on delivering autonomous and open source financial services to the DFINITY network by taking advantage of the composability of “money legos” and the scalability of the Internet of Computer which allows for unlimited new markets and opportunities.
The Sailfish Platform will integrate Sailfish’s automated market maker(AMM) and its upcoming money market protocol in its product which will allow access to Sailfish’s liquidity and perform trades with a simple function call.
The ideology behind the sailfish prototype AMM which creates a simple and effective way to bootstrap new markets. By building a constant product market maker for pairs of tokens as seen on ethereum based uniswap which will allow to deposit personal assets to earn trading fees while allowing everyone to be able to trade with the AMM.
With an already existing working AMM sample Sailfish vision is to enable everyone to interact freely with decentralized finances products and services which includes investing, trade, save, borrow while engaging with a community that is passionate about its ecosystem by creating a the sailfish financial platform which is characterized by three major components:
- Open and
SAILFISH SWAP: REDEFINING THE DEFI SPACE
Sailfish Swap is the project’s automated market maker (AMM) product that will help facilitate swaps between pairs of tokens. It will function in the parameters stated below:
- It will follow a constant-product formula which aims to maintain an equal weight of each token in a pair.
- Liquidity providers can deposit any pair of tokens into the liquidity pool to start making markets and earning trading commissions.
- Traders can swap between any token pair that exists in the liquidity pool.
SailFish swap can be classified as an exclusively robust new generation swap platform that will not only improve on previous platforms but also create a whole new experience for users of its products. Users of sailfish swap will be able to:
- Deposit any pair of assets into the liquidity pool. If that market doesn’t exist, it will be created. In return, a new Sailfish LP Token will be minted and issued to the depositor. The LP token will then be used to claim assets inside the pool along with fees earned from traders.
- Withdraw LP Tokens which can be redeemed for the underlying tokens along with earned fees. This function will burn LP Tokens and transfer all underlying tokens to the owner.
- Swap one token for another, in a situation whereby the market is already in existence
- Get the latest quote For the desired pair and amount, return the expected swap amounts and average price.
- Get Pools and Retrieves information for specified or all liquidity pools. Returns token balances, LP Token data, and fee data.
- Get All Tokens and be able to Retrieve the list of all unique tokens deposited.
By creating a first class decentralized finance ecosystem with a social component, sailfish will not only improve on the $100 billion worth DeFi market platform, it will also work towards creating a once in a lifetime experience DeFi protocol that will be open, safe and gives everyone access to financial service in a seamless manner.