Decentralized Futures - Dazhbog: A Decentralized Perpetual Futures Exchange on Polkadot


Greetings, Polkadot community!

We’re excited to unveil Dazhbog, a groundbreaking project poised to revolutionize decentralized finance (DeFi) through a decentralized perpetual futures exchange platform. Operating within the Polkadot ecosystem, Dazhbog empowers users to trade perpetual futures contracts in a secure, transparent, and efficient manner.

Let me introduce myself to you, my name is Ognjen Aleksic, and I am a member of the Ceres Blockchain Solutions team. I am currently completing my Master’s in Computational Finance from the School of Computing and Collegio Carlo Alberto. My academic focus includes quantitative analysis, time series statistical forecasting models, and derivatives pricing models - from fundamental binomial models to advanced Black-Scholes modeling techniques.

As a recent graduate of the Polkadot Blockchain Academy (PBA) program’s inaugural remote cohort, I bring a comprehensive skill set in financial analysis and blockchain technology integration.

Transforming Perpetual Futures Trading:

Currently, perpetual futures trading often relies on centralized intermediaries, raising concerns about transparency, security, and potential manipulation. Dazhbog tackles these issues by leveraging the power of the Polkadot network.

Here’s how Dazhbog unlocks the potential of decentralized perpetual futures:

  • Decentralized Architecture: Built using Substrate, Dazhbog seamlessly integrates with the Polkadot ecosystem, inheriting its robust security, scalability, and interoperability features.
  • Hydration Parachain Integration: By deploying Dazhbog as a set of pallets on the Hydration parachain, we ensure a smooth and efficient trading experience for users.
  • Empowering Users: Dazhbog eliminates the need for centralized control, fostering a trustless environment where users maintain complete control over their assets and trading activities.

Our target audience includes all individuals who use DeFi, as they will find new opportunities trading on Dazhbog. This encompasses our team, who are deeply invested in using and improving the platform to meet the highest standards. Additionally, newcomers to DeFi who are eager to explore advanced financial instruments in a user-friendly and secure environment, Dazhbog aims to attract a diverse range of users, from experienced DeFi enthusiasts to those just beginning their journey in decentralized finance.

Our team is driven by a deep passion for advancing the DeFi landscape. We believe decentralized perpetual futures exchanges are a critical piece of the puzzle, offering users innovative avenues for trading and hedging strategies within the DeFi ecosystem.

Addressing the DeFi Demand: A Competitive Edge

Dazhbog addresses the burgeoning need for advanced financial instruments within the Polkadot DeFi community. While established ecosystems like Ethereum boast platforms such as dYdX and GMX Protocol, the Polkadot ecosystem lacks a comparable solution offering the functionalities envisioned by Dazhbog. This presents a unique opportunity for Dazhbog to become the go-to platform for perpetual futures trading within the Polkadot DeFi space.

By strategically integrating with the well-established Hydration parachain, Dazhbog leverages its existing user base and high TVL to establish itself as a dominant force in Polkadot’s DeFi landscape.

Validation through Recognition:

Ceres Blockchain Solutions’ commitment to innovation and the Polkadot ecosystem is further reinforced by our recent achievement. Dazhbog’s core concept and technical feasibility were validated through our first-place win at the Polkadot Prodigy hackathon in the DeFi category.
Here is the link of the twitter post where the winner was announced. This recognition highlights the traction the project has gained within the Polkadot community and motivates our team to pursue further development of Dazhbog.

Who we are

Ceres Blockchain Solutions is a Belgrade-based software company specialized in the design, development, and implementation of Web3 software solutions. Our operations extend beyond creating in-house products; we play a significant role in empowering teams and individuals within the Web3 space. Through comprehensive consulting and outsourcing services, Ceres Blockchain Solutions aids in turning innovative ideas into sustainable software solutions.

Ceres Blockchain Solutions stands out not only for its comprehensive blockchain development services but also for its active engagement in creating and deploying a diverse range of DApps and platforms. Their portfolio, spanning from decentralized exchanges (DEXs), launchpads, farming platforms, gaming DApps, to governance systems, showcases their versatility and commitment to advancing the blockchain ecosystem.

The products mentioned suggest a broad spectrum of applications, including:

  • Veles - funded by Polkadot OpenGov
    (Veles project proposal - Carbon credits pallet | Polkassembly)
    Veles pallet for enhancing the carbon credit market within the Polkadot ecosystem. A reliable, transparent solution for carbon credit management, leveraging blockchain to ensure accuracy and security in carbon credit issuance and trading.

  • Ceres dApps
    Ceres is an in-house project which is intended as a DeFi service provider in the Polkadot ecosystem. The Ceres dApps platform includes services such as Liquidity Locker and Token Locker.

  • Ceres Launchpad
    The Launchpad platform is the first station for new projects on the network. With Launchpad, new projects can easily launch their tokens on Polkaswap and users get more security because the Ceres Liquidity Locker and Ceres Token Locker are integrated.

  • Demeter Farming Platform
    The Demeter Farming platform is the first of its kind. The unique feature of this platform is the user’s ability to farm with the same liquidity in multiple pools. The Platform also provides Farming-as-a-Service, which means that every project can create its farming/staking pools without coding.

  • DEO Arena
    The DEO Arena is a Play-to-Earn game. In-game currency is the token Demeter (DEO). Players spawn in the arena and the goal is to eliminate opponents using different weapons. Each player enters the match with a certain amount of DEO tokens, which are taken by the winner at the end.

  • Hermes Governance System
    The Governance platform is a tool for implementing the concept of decentralization in the Hermes DAO. Any user holding Hermes (HMX) tokens above a set limit is able to create a poll. Likewise, each voter who has more than the set minimum amount of Hermes (HMX) tokens, has the same voting power as anyone else.

  • Ceres Tools
    Ceres Tools is a platform which displays data from the Polkaswap DEX. Users are able to track tokens prices, liquidity pairs, pool details, as well as 24hr volume for each pair and for all available pairs. The platform is also available in the form of a mobile application for Android and iOS.

  • Apollo Protocol
    The Apollo Protocol is the lending and borrowing platform which enables its users to deposit and borrow assets. Depositors can provide liquidity and secure passive income through interest, while borrowers can leverage their assets without selling them and pay interest for this service.

Notably, Ceres has been predominantly active on Polkadot parachains, where we have successfully delivered most of our projects. This experience underlines our proficiency in navigating these platforms’ unique ecosystems, contributing to our reputation as a versatile and capable blockchain developer team. Our work, known for supporting multi-chain interoperability and innovation, aligns with Ceres’ objectives of fostering a more accessible, efficient, and interconnected blockchain landscape.

Join the Decentralized Future:

Dazhbog is currently in the process of applying for a Web3 Foundation Decentralized Futures grant to accelerate its development and deployment. We’re committed to building a robust and user-friendly platform that empowers the Polkadot community to explore the possibilities of decentralized perpetual futures trading.

We welcome your feedback and invite you to join the conversation! Stay tuned for further updates on Dazhbog’s progress.