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Intersect

Intersect Development Update #8 - April 5th

On the 20th of December 2023, Dr. Lars Brünjes conducted a workshop “How to become a Smart Order Router (SOR) Operator”. Today we present you a recording of this workshop, together with a list of questions asked by participants and answers by Dr. Lars and the Genius Yield team.&nbsp;<h1 style="margin-left:0px;">Questions and Answers</h1>Question: Are we required to have a minimum amount of $GENS to make SOR’sAnswer: No $GENS are required. Since matching orders require collateral, one UTxO of 5 ADA value should suffice. SORs are arbitrage bots, so if they find a match with 10 ADA (provided currency is set to ADA) arbitrage, no input UTxO is needed from the wallet like for the transaction shown in the workshop. But if arbitrage is small, say 0.5 ADA then some UTxO from the bot would be needed to satisfy the minimum ADA requirements of arbitraged UTxO.Question: What are the hardware requirements to run an SOR?Answer: Hardware requirements are minimal if one is using a remote provider such as Maestro.Minimum System Requirements:<ul><li>Memory: 500 MB</li><li>CPU: 0.5vCPU (2.25 GHz CPU Base Frequency)</li><li>Reliable and fast internet connection</li></ul>Recommended System Requirements:<ul><li>Memory: 1GB</li><li>CPU: 1vCPU (2.25 GHz CPU Base Frequency)</li><li>Reliable and blazingly fast internet connection</li></ul>In case you decide to run your own Cardano node and use the Kupo provider, the system requirements are much higher.Question: Can we use skey and vkey generated with Hardware Wallets? Or only created by cardano-cli?(<a href="https://github.com/vacuumlabs/cardano-hw-cli">https://github.com/vacuumlabs/cardano-hw-cli</a>)Answer: At the moment, only normal &amp; extended keys such as those created by cardano-cli are supported.Genius Yield also provides a simple <a href="https://github.com/geniusyield/signing-key-generator">Docker-based utility tool</a> to generate payment signing keys.Question: Has the team already tested how SORs can match orders on GY DEX with liquidity from other permissionless protocols?Answer: This hasn’t been tested yet, but there is no technical limitation that would stop SOR operators from using liquidity from any source in the Cardano ecosystem.There is an ongoing effort by our community to test using liquidity from different permissionless sources and use this on Genius Yield for different purposes, thus maximizing the arbitrage opportunities.Question: Is there really any incentive to decrease the scan time from 40 secs?Answer: Yes, there is an incentive, since this improves the effectiveness of your SOR instances.Your SOR is competing with all the other SORs for the matches, so if you scan for matches more frequently, the more likely you find matches and submit transactions before other SOR operators, thus this increases your chances of making a profitable trade. So decreasing the scan time as much as possible increases your chances. Your matching strategy will need some time to find matches, though, so there’s a limit that depends on your chosen provider and the speed of your strategy.Question: Can you show me how the docker config actually works? I did a test with docker and there are always 0,0 orders for tEMP/ADA I am not sure if it is because of docker or config.json. Also if possible can we use that internal tool?Answer: There is a chapter in the SOR README dedicated to running the SOR in a docker container: <a href="https://github.com/geniusyield/smart-order-router?tab=readme-ov-file#running-the-sor-using-docker">README — Running the SOR using Docker</a>If you have any further questions, please feel free to ask these in our #discussion-sors Discord channel.Question: Can a badly implemented strategy lose money running a SOR?Answer: At the moment, the DEX UI only supports token pairs where one member of the pair is ADA, so you can always choose ADA as the “Currency”. If you do, then no, the SOR should never lose money. We built in a check that never submits transactions that would make you lose money. So if you lose money while ADA is the “Currency”, then you found a bug and should immediately report it.If ADA is not the “Currency”, however, then it’s not so clear what “losing money” actually means. The bot will check that you don’t lose “Currency”, but you will always need to pay transaction fees in ADA, and it depends on the exchange rate between ADA and your “Currency” if the “Currency” you gain in a transaction outweighs the transaction fees.Question: Does the SOR need to run in the cloud?Answer: No, it can be run locally like how Dr. Lars ran it during the workshop.You can run a SOR instance on your local workstation, on a physical server, in the cloud, or even on a Raspberry Pi — as long as your setup fulfills the minimal system requirements.Question: Do you need an SOR for each token pair you want to service?Answer: No, as a single SOR instance can arbitrage for multiple token pairs. Look at the <a href="https://github.com/geniusyield/smart-order-router/blob/main/README.md">README file</a> present in the project repository.Question: Where can we configure validatorRefs, strategy, scanTokens from docker envs? Can we get any description of what those params areAnswer: The description is provided in the project’s README: <a href="https://github.com/geniusyield/smart-order-router?tab=readme-ov-file#orderbot-config">https://github.com/geniusyield/smart-order-router?tab=readme-ov-file#orderbot-config</a>.For configuration, one may either set through environment variables, as done <a href="https://github.com/geniusyield/smart-order-router/blob/4a1557dd33927d384f16fe7c5e8c671e2932dc01/Dockerfile#L65-L73">here!</a> or give a configuration json file such as <a href="https://github.com/geniusyield/smart-order-router/blob/main/config-files/bot-config.json">this!</a><a href="https://www.geniusyield.co/">Website</a> | <a href="https://t.me/geniusyield_official">Telegram</a> | <a href="https://discord.gg/TNHf4fs626">Discord</a> | <a href="https://geniusyield.medium.com/">Medium</a> | <a href="https://twitter.com/GeniusyieldO">Twitter</a> | <a href="https://www.reddit.com/r/Genius_Yield/">Reddit</a> | <a href="https://www.youtube.com/channel/UC0Lw_flS1WokWYH9ZHIQv2g">YouTube</a> | <a href="https://instagram.com/genius_yield_official">Instagram</a>Disclaimer: The market maker bot and smart order router code is provided open source as-is, with no warranties or guarantees of any kind, either expressed or implied, and is not intended to be used as a substitute for professional investment advice. It doesn’t include official technical support. The user does not receive any investment advice from Genius Yield in connection with any trades, and no suitability review or similar of any trades or strategy is conducted by the Genius Yield team. The use of this bot is entirely at the user’s own risk. The user assumes all risks associated with the use of this bot, including but not limited to financial losses, tokens losses, loss of data, business interruption, and other unforeseen circumstances. The user is solely responsible for the final configuration and operation of this bot, and it’s recommended to seek professional trading advice before using it in mainnet.

Genius Yield

How to Become an SOR Operator - Q&A and a video walkthrough by Dr. Lars Brünjes

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<h2>Introduction</h2>
Cardano’s <a href="https://docs.cardano.org/native-tokens/learn/" target="_blank">native tokens</a> are a cornerstone of the blockchain’s functionality and community engagement. These tokens, which can be user-defined, are treated by the Cardano ledger similarly to its native currency, ada. Since the <a href="https://forum.cardano.org/t/the-mary-hard-fork-faq-everything-you-need-to-know/50971" target="_blank">Mary hard fork</a> in March 2021, Cardano has offered built-in support for native tokens, eliminating the need for custom code for their creation, transfer, or deletion. Notably, a single Cardano transaction can handle multiple tokens and addresses for a single transaction fee, making the use of native tokens more cost-effective.
Cardano’s native tokens offer a robust multi-asset feature, allowing for transactions involving both ADA and an unlimited number of user-defined tokens, according to the official Cardano documentation. This native support eliminates the need for smart contracts to manage custom tokens, thereby reducing complexity and the potential for errors. The native tokens feature extends Cardano’s existing accounting infrastructure, which was initially designed for ADA-only transactions, to accommodate a variety of assets. These assets can range from digital currencies like ADA to user-defined custom tokens.
The documentation also delves into the concept of minting policies, which govern the creation and destruction of assets. These policies can be as simple as requiring specific signatures for minting or as complex as Plutus Core scripts. Every asset is permanently associated with a minting policy, ensuring safety and integrity. Cardano’s native tokens can be fungible or non-fungible, and they can represent a variety of values, such as roles, credentials, or quantities of goods. Unlike ERC20 tokens on the Ethereum blockchain, Cardano’s native tokens are supported by the ledger natively, offering enhanced security and efficiency.
<div>Cardano’s native tokens also have a lifecycle that includes minting, issuing, using, redeeming, and burning phases. Various actors like asset controllers, token issuers, and token holders interact throughout this lifecycle. ADA remains the principal currency for transaction fees and minimum account balances, even when dealing with native tokens.On 5 September 2023, Essential Cardano provided a comprehensive guide to the ecosystem players that support Cardano’s native tokens. Below are a few highlights from their report.</div>
<h2>The Impact of Native Tokens on Cardano’s Ecosystem</h2>
Native tokens have opened the door for innovative applications within the Cardano ecosystem, ranging from the establishment of loyalty programs to enabling peer-to-peer transactions.
The introduction of native tokens has been a catalyst for the adoption of the Cardano blockchain, attracting a broader user base and developer community.
The Cardano blockchain facilitates the representation and trading of digital assets through tokenization, further expanding its utility.
Native tokens have been instrumental in the growth of decentralized finance on Cardano, enabling the development of a robust ecosystem of decentralized applications (DApps) offering financial services.
<h2>Tools for Native Tokens</h2>
<h3>Development Agencies and Platforms</h3>
<ul>
<li>Ada Anvil: Specializes in NFT minting, staking, airdrops, and custom services.</li>
<li>Buffy Bot: A publishing company focused on Cardano NFT projects.</li>
<li>Cardano Sounds: Aims to create a new economy within NFTs, allowing creators to earn royalties.</li>
</ul>
<h3>User Interfaces and Minting Platforms</h3>
<ul>
<li>Cardano Token and NFT Builder: A web-based GUI.</li>
<li>CNFT Lab: A comprehensive Web3 tool for minting CNFTs and managing policy IDs.</li>
<li>Minted with Lovelace: A decentralized launchpad DApp for automated NFT/Token minting.</li>
</ul>
<h2>Wallets Supporting Native Tokens</h2>
<ul>
<li>Adalite Wallet: An open-source client-side interface developed by Vacuumlabs.</li>
<li>Daedalus Wallet: A full-node desktop wallet.</li>
<li>Nami Wallet: A browser-based extension.</li>
</ul>
</div>

Elevenews

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Cardano’s Native Tokens and the Tools That Support Them - ELEVENEWS

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	<div>
	<img src="https://www.crypto-news-flash.com/wp-content/uploads/2021/05/cardano-full-deployment-of-goguen-in-q2-provided-testing-is-successful.jpg" alt="Cardano" title="Cardano’s DeFi Booms: These Top ADA Projects Set to Catapult Price to New ATH of $2 – Report" srcset="https://www.crypto-news-flash.com/wp-content/uploads/2021/05/cardano-full-deployment-of-goguen-in-q2-provided-testing-is-successful.jpg 1000w, https://www.crypto-news-flash.com/wp-content/uploads/2021/05/cardano-full-deployment-of-goguen-in-q2-provided-testing-is-successful-300x180.jpg 300w, https://www.crypto-news-flash.com/wp-content/uploads/2021/05/cardano-full-deployment-of-goguen-in-q2-provided-testing-is-successful-768x461.jpg 768w, https://www.crypto-news-flash.com/wp-content/uploads/2021/05/cardano-full-deployment-of-goguen-in-q2-provided-testing-is-successful-24x14.jpg 24w, https://www.crypto-news-flash.com/wp-content/uploads/2021/05/cardano-full-deployment-of-goguen-in-q2-provided-testing-is-successful-36x22.jpg 36w, https://www.crypto-news-flash.com/wp-content/uploads/2021/05/cardano-full-deployment-of-goguen-in-q2-provided-testing-is-successful-48x29.jpg 48w" />				
			
<ul>
<li>The Cardano ecosystem’s value has surged from $50.9 million to over $150 million. </li>
</ul>
<ul>
<li>Among the leading DeFi projects on Cardano are MinSwap, Liqwid, SundaeSwap, Indigo Protocol, Djed Stablecoin, and MuesliSwap, each with unique features and contributions to the Cardano ecosystem.</li>
</ul>
<hr />
Cardano, a notable blockchain platform, has recently experienced a significant surge in its Decentralized Finance (DeFi) activity. This rise is primarily due to the emergence of decentralized protocols and the increasing popularity of community-driven memecoins, such as the case with Snek. 
The notable increase in DeFi activity on Cardano is a positive signal for the platform’s prospects. As the Cardano platform unveils more innovative projects and decentralized protocols, the adoption of its ecosystem will probably expand further. This recent surge in DeFi activity on Cardano underscores the platform’s appeal and significant growth potential.
Notably, the Cardano (<a href="https://www.crypto-news-flash.com/cardano-introduces-lace-1-4-introduces-more-features-ada-handle-support-and-bug-fixes/" target="_blank">$ADA) ecosystem</a> has expanded from $50.9 million in the initial quarter of 2023 to surpass $150 million, reflecting a year-to-date increase of more than 200%. Here is the list of the leading performers within Cardano’s DeFi ecosystem, evaluated based on <a href="https://www.crypto-news-flash.com/cardano-defi-tvl-reaches-a-new-all-time-high-as-machine-learning-algorithm-makes-bold-ada-price-prediction/" target="_blank">Total Value Locked (TVL)</a>, user engagement, and other significant criteria.
<h3>MinSwap (MIN)</h3>
<div><img src="https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Miniswap.png" alt srcset="https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Miniswap.png 1021w, https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Miniswap-300x152.png 300w, https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Miniswap-768x388.png 768w" />Source:Miniswap</div>
<a href="https://minswap.org/" target="_blank">MinSwap</a> is a decentralized exchange (DEX) Automated Market Maker (AMM) operating on the Cardano platform. It empowers users to efficiently trade and exchange assets with minimal fees, providing a user-friendly experience. A key contributor to MinSwap’s growing appeal is its unique approach to token distribution and liquidity pools, setting it apart with innovation.
MinSwap presents a diverse selection of more than 2500 pools, categorized into four types: stablecoin, constant product, multi-asset, and dynamic pools. Each pool displays the potential Annual Percentage Yield (APY) for Liquidity Providers (LPs). Additionally, MinSwap employs an automated yield farming strategy, reallocating a portion of the liquidity LPs provide to the best-performing pools. This categorization of pools enables LPs to assess risks based on their chosen pool.
MinSwap gained significant attention in May 2023 due to a remarkable Total Value Locked (TVL) surge within the Cardano ecosystem. It holds the position of the largest application on the blockchain, commanding a 26.8% dominance and boasting a TVL of $48 million at the present moment. The platform’s surge in popularity can also be attributed to its user-friendly dashboard and user interface, making it accessible and easy for regular users.
<h3>Liqwid (LQ)</h3>
<img src="https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Liqwid.png" alt="Cardano Liqwid" srcset="https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Liqwid.png 749w, https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Liqwid-300x186.png 300w, https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Liqwid-163x102.png 163w" />
<a href="https://liqwid.finance/" target="_blank">Liqwid Finance</a> is a DeFi lending protocol that has undergone an audit conducted by Vacuumlabs. This open-source and non-custodial protocol operates as an interest rate mechanism, simplifying and enhancing accessibility to DeFi lending for all participants within the Cardano blockchain ecosystem.
Presently, it holds the third position among DeFi protocols concerning Total Value Locked (TVL), accumulating more than $19 million. The protocol’s rise in prominence primarily results from its straightforwardness, user-friendly interface, lucrative staking pools, and efficient governance system within its well-organized DAO.
Users can earn interest on their assets based on Cardano by participating in staking. Additionally, they can borrow assets from lenders on the protocol by providing collateral for their positions. Moreover, users can actively engage with the community by staking their tokens, allowing them to vote on network proposals and even submit suggestions.
<h3>SundaeSwap (Sundae)</h3>
<img src="https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Sundae.png" alt srcset="https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Sundae.png 670w, https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Sundae-300x234.png 300w" />
<a href="https://sundaeswap.finance/" target="_blank">SundaeSwap</a> is a decentralized exchange protocol designed for the Cardano network, facilitating the peer-to-peer exchange of native assets and ADA in a trustless, decentralized fashion. Operating on a permissionless, decentralized framework, the SundaeSwap protocol offers unrestricted access to anyone, anywhere. All required is a Cardano wallet and internet connectivity, enabling users to participate in liquidity provisioning for pools and seamlessly swap assets.<div>&gt;&gt; Buy Cardano (ADA) quickly and securely with PayPal, credit card or bank transfer at eToro. <a target="_blank" href="https://med.etoro.com/B20859_A118320_TClick_SText%20link%20CNF%20English.aspx">Visit Website</a> &lt;&lt;</div>
<h3>Indigo Protocol</h3>
<img src="https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Indigo.png" alt srcset="https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Indigo.png 416w, https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Indigo-300x279.png 300w" />
<a href="https://indigoprotocol.io/" target="_blank">Indigo</a> operates as a community-led protocol enabling users to generate synthetic renditions of actual tangible assets on the Cardano blockchain, using either ADA or stablecoins. These synthetic tokens, known as iAssets within the Indigo ecosystem, offer users the opportunity to gain exposure to real-world assets without direct ownership. 
These iAssets closely follow the price movements of their corresponding underlying real-world assets, encompassing a range of items, including stocks, bonds, commodities, ETFs, and more.
<h3> Djed Stablecoin</h3>
<img src="https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Djed.png" alt srcset="https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Djed.png 528w, https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Djed-300x247.png 300w, https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Djed-168x137.png 168w, https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Djed-262x216.png 262w" />
<a href="https://djed.xyz/" target="_blank">Djed </a>stands as a cross-chain stablecoin protocol with cryptocurrency collateral. Its core approach involves a multi-currency algorithmic mechanism designed to uphold price stability. Users buy and sell SHEN, the protocol’s reserve coin, in response to market dynamics. This activity helps maintain <a href="https://www.crypto-news-flash.com/cardanos-djed-to-become-a-multi-chain-token-with-binance-and-ethereum-chains-defi-ecosystems-to-get-a-stablecoin-that-is-stable-and-reliable/" target="_blank">DJED’s value parity</a> with the USD while participants earn a portion of transaction fees from the reserve pool. ADA also reinforces Djed’s support.<a href="https://qube.la/cnfban1" target="_blank"><img src="https://www.crypto-news-flash.com/wp-content/uploads/2023/07/photo_2023-07-17_09-58-01.jpg" /></a>
To maintain system robustness and prevent scenarios like the Terra collapse, Djed mandates users to overcollateralize their loan positions. This requirement aims to ensure overall system stability. Consequently, users must provide collateral equal to 400% to 800% of the loan amount before gaining access.
<h3>MuesliSwap</h3>
<img src="https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Mueliswap.png" alt srcset="https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Mueliswap.png 462w, https://www.crypto-news-flash.com/wp-content/uploads/2023/08/Mueliswap-300x184.png 300w" />
<a href="https://muesliswap.com/" target="_blank">MuesliSwap</a> operates as a decentralized exchange within the Cardano blockchain, enabling users to trade with Cardano’s native tokens. It is the initial native decentralized exchange (DEX) on Cardano that presents advanced trading capabilities reminiscent of centralized exchanges while maintaining a user experience (UX) tailored for fast-paced trading.
The MuesliSwap protocol employs a unique hybrid system, incorporating decentralized aspects. Unlike other DEXs that utilize Automated Market Makers (AMMs), it uses an on-chain order book connected to its liquidity pools. This setup provides crypto traders with features such as limit, stop, and market orders, with minimal fees and rapid order matching.
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<li>Copy top-performing traders in real time, automatically.</li>
<li>Regulated by financial authorities including FAC and FINRA.</li>
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Cardano's DeFi Booms: These Top ADA Projects Set to Catapult Price to New ATH of $2 – Report - Crypto News Flash

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