Omer Goldberg
Omer Goldberg

Chaos Labs Receives dYdX Grant

Cover Image for Chaos Labs Receives dYdX Grant
  1. 🔍 Overview
  2. 🏆 Goals
  3. 📉 Perpetual Funding Rate Application
  4. 💻 dYdX Trading CLI
  5. 🧮 Trading Rewards Simulator
  6. ⏭️ What's next?
  7. About the dYdX Grant Program

🔍 Overview

As a firm believer and participant of the DeFi ecosystem, Chaos Labs is always excited to partner with the top DeFi protocols. dYdX is the leading decentralized exchange that supports perpetuals and a leader in the space. We've admired their ability to execute for a while, so when we heard that the foundation was launching the grants program we were excited to collaborate and drive value for the larger ecosystem.

🏆 Goals

Chaos Labs identified the requests that were most impactful and discussed with the dYdX team. We ultimately identified 3 projects:

  • Perpetual Funding Rate Application
  • dYdX Trading CLI
  • Trading Rewards Simulator

Let's dive a bit deeper into every project.

📉 Perpetual Funding Rate Application

A stand-alone page that shows real-time funding rates across active markets with popular timeframe adjustments (ie. 1-day, 7-day. 30day). The idea here is to provide an alternative client for traders, thus giving more optionality to the community. Additionally, this will be optimized for mobile devices so users can keep track of rates on the go.

💻 dYdX Trading CLI

The objective of this grant is to create a command line interface which will allow users to access the full functionality of the protocol through the dYdX API. This will include actions such as:

  • Trade execution
  • Position Management
  • Risk assesment
  • Ability to fund existing accounts / positions

Having CLI tools is a great resource for the dYdX community, and is an excellent starting point for developers looking to interact with the protocol / API in a programmtic environment. PR's are encouraged 🤗.

🧮 Trading Rewards Simulator

Chaos Labs will build a calculator to help traders calculate and estimate possible rewards earned by positions/trades placed per epoch.

⏭️ What's next?

We're currently in execution mode, researching and building the required infrastructure. Stay tuned for upcoming release of tools and repos ;)

About the dYdX Grant Program

If you want to learn more about the dYdX Grants Program, check out their blog.