gdax chainlinkPermissionless Perpetual Pools Tracer on Chainlink Q&A

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really excited to bring them back on to the chain link ama to unpack a little bit of what theyve had going on for the last few months so uh ray welcome to the party here uh great to have you thanks for having me harris awesome and well we know uh you know tracer v2 released last month uh which is awesome uh but before hopping into that can you share a little bit with the viewers of what you guys have been working on we know you used to be like node operators at the earlier stages so can you give us a little bit of the history of what you guys have been working on and bring us maybe you know a few minutes to the to the modern day yeah for sure so yeah like you mentioned we sort of started our crypto journey through chain link which is why its always awesome to to catch up with everyone and yeah talk about where weve gone since the early node operator days so i guess the initial thing we really saw in crypto was how much of a problem data was going to be which is why weve you know loved and backed chain-link from day one so we really wanted to figure out how we could be involved in essentially bringing data on chain so that then we could build other things on chain um and yeah chain link just made the most sense for us at the time so weve been a node operator for the past two years and basically is servicing a lot of the the really major feeds on mainnet on different l2s uh and thats sort of what sent us down this tunnel of then wanting to build financial primitives so at trace aware building derivatives infrastructure uh were not just building like a single thing but were building different contracts different tooling different interfaces to allow people to use derivatives um and derivatives are really useful for either managing your risk hedging your exposure or taking directional bets so long or short on pretty much anything um and i guess due to our like chain link background the big differentiating factor between us and a lot of other derivatives protocols is weve built a very like modular system and the idea there was to be able to plug in any chain link price feed any data feed for that matter um any settlement cal any sediment collateral sorry so you can settle markets in any erc20 and basically all the pieces just plug in together um and you can customize your own derivatives so yeah thats thats really what were working on at the moment thats incredible and i know that youve all been working on v2 and that was released so maybe you want to chat a little bit about that and um also maybe share how going to market with this is a little different than v1 yeah for sure so yeah we released v2 just over a month ago now um and its gone pretty well so far weve been migrating a lot of liquidity from v1 to v2 and have a lot of new users that are sort of jumping in um the really major changes for us were first of all we customized the actual financials of the contracts a little bit so theres this concept called volatility decay which basically is if you hold a position over time you slowly lose money even if the position is moving in your favor um so weve reduced that in v2 by changing a few bits with the contracts and we also enabled fully permissionless markets which were really excited about so v1 had that capability but we kind of just wanted to test the waters a little bit first we werent too certain how it would go uh theres a bit of complexity in creating your own derivative we need a few things set up so we didnt enable it in v1 in v2 weve turned that on so were really excited to see infrastructure built out around that because its still quite early days um and i know a lot of other people have sort of been going down that that train uh theres the the rari guys and a lot of other people doing permissionless infrastructure so i think over the next few years well see a bit more of that as well yeah man so just curious to get your take here so it sounds like theres a bit of a difference right and so try to understand a little bit more around how you came to these things to augment in v1 to v2 so what were some of the driving principles behind these changes you guys thought to make yeah i guess theres sort of two focuses theres the really like financial back-end focus and then theres the what does the community want and whats usable for real users so on the financial side there was a lot of basically monitoring the contracts which is one of the really cool things about building on chain right we have all the data we can see the results being reported by the chain link price feeds we can compare it to the return of our uh perpetual pools primitive and we can kind of just compare the two um and we use that then through our finance team to basically figure out what improvements we can make to make the product more effective and thats sort of the the deep financial engineering software engineering side um and then the other side is yeah just actually talking to the community talking to users and seeing what the market is really valuing and following um we from day one have kind of believed in this fully permissionless decentralized infrastructure so we wanted to make sure what we were building actually held up to that um and we think its pretty important right we dont want to be the controllers of a protocol and we dont even want the dow to be the controllers of what can be deployed on the protocol the nice thing about open source code is anyone can use it so we just want to make it easy for people to come along use it for whatever they want so yeah really looking into dowsing communities and seeing how they can leverage these tools which is has been good fun yeah i was looking into that a bit its really awesome how youve decentralized it thus far and id love for you to expand a little bit on that whole dao aspect and how your community ties into all that yeah so we took an interesting approach we were actually pretty much a dow from day one so excuse me we had a um we had a token released that anyone could claim um and we spread that throughout our close network and then got that spread further throughout crypto so weve had a community with us pretty much from the start which meant we always had someone to bounce ideas off to get contributions from um and also to just help figure out specific things about the product really the people that stuck around were the people that were most interested in using the product as well so theyre a good sounding board for all of that the other i guess really important community piece for us is actually just getting people involved in crypto like were building these tools so people can use them so it wouldnt make sense for us to just build them in isolation uh and weve had a lot of great community contributors come in we actually have uh a guy who joined us we just met him in the discord and for east denver earlier this year he drove from la to denver with a massive thing about merch for like 18 hours so yeah how it goes to show gosh thats insane that was pretty crazy um yeah people in the community are really really passionate which is so good to see yeah and i think we see that a lot at you know at chain link we have a huge community as well and so seeing that tracers also alliance there is really awesome and um just seeing how youre tying it all together into derivatives is quite interesting because i i find that to be you know its a harder topic to understand for somebody thats newer into crypto so putting it into that dial format is quite interesting yeah the link marines were definitely a uh like an early inspiration for trying to build this sort of cultish community wed love to see it okay yeah no absolutely so i mean to tie it back to what you guys are building real quick right so it sounds like theres a great focus on what the community wants giving a little bit more power to them um as youve taken inspiration from the community and some of the the financial instrument opportunity that was an unmet need basically for the industry you know where did our colleagues at chain-link labs come in and you know how did how did chain link fit into that broader vision you guys were working on yeah one of the i guess most exciting things were working on with with chain link and chain link labs is basically building out bits and pieces of infrastructure to allow more price feeds to be deployed thats been a big thing for us from pretty much when we first launched tracer that we wanted to tap into not just the price fees that existed currently but really be able to give communities these tools to leverage chain link and deploy markets that they want um so were sort of i guess you can say were building our own don like our own decentralized oracle network around tracer that enables our community other taos different communities to come to us deploy a new chain link feed and then deploy a market for it so that collaboration has been really gay really great because chain link has given us access to a lot of tooling um a lot of different node operators that then we can then rely on ourselves internally um and spin up new feeds which yeah is is important for us absolutely and so if we were to look forward a little bit um so were talking about a little bit whats in the here and now know you guys have moved forward with a lot of different things so the voyage was announced i saw you know before hopping on last month um can you expand on that a little bit and maybe even just more broadly speaking the roadmap holistically for the next year plus yeah so the whole idea with the voyage is its almost a journey through trace of perpetual pools our current product uh the idea is that theres a lot of complexity in the product but at the end of the day it is quite simple um you can use this derivative and you can just get a leveraged token that you can hold in your wallet so we want to show off all the different features that the product has to offer in a nice simple way uh so yeah the voyage is a its planned to be six weeks sorry six stages and the idea is every stage is a new market so the market rebalances every 12 hours its a much simpler product so you know exactly when and when you can enter and exit um and then theres going to be a few other things throughout the journey so were looking at like nft markets were looking at a few more real world assets a flipping market which will be really cool uh and then yeah thats thats pretty much the idea so if youre interested in learning about derivatives playing around with things earning po apps that will have use at some point in the future um yeah come come join the voyage just jump in our discord and theres plenty of people that want to help take you on that journey in terms of the longer term roadmap so some of the things were really focusing on for the next six to 12 months first of all we are going to finally enter the perpetual swaps game so our current derivative that weve built perpetual pools is a little bit different to perpetual swaps so were fleshing out perpetual swaps so that we have both offerings on the tracer um theres a decent chance that we look into options towards the late end of this year early next year um and then the other big piece for us is really improving tokenomics so were putting a big focus on how the tracer token can actually be used to give a lot more value back to the community but also a lot more power to the community so those are kind of the three pillars weve got at the moment to focus on well it sounds like youre busy but it sounds like youre doing some amazing things and definitely all areas that our community can relate to and im sure wants to learn more about as well so um yeah to close things out where can everyone find you and how can they learn more about tracer yeah so were just that site will have links to all of our socials and our discord the best place to get in contact with us is discord um were all pretty open so yeah just jump in come have a chat were happy to answer any questions really also ray well as i said at the head of this uh youve been involved your teams been involved with the chantly community for years so great to have you joined on today and to give the broader community an update on what youre working on so thanks for the time yeah thanks for having me thank you you In this Chainlink Q&A, the co-founder of TracerDAO shares the improvements coming with Tracer v2, and how it’s using Chainlink Price Feeds to help secure its permissionless perpetual pools.Featured guest: Ray Mogg, Co-Founder at Tracer Chainlink is the industry standard for building, accessing, and selling oracle services needed to power hybrid smart contracts on any blockchain. Chainlink oracle networks provide smart contracts with a way to reliably connect to any external API and leverage secure off-chain computations for enabling feature-rich applications. Chainlink currently secures tens of billions of dollars across DeFi, insurance, gaming, and other major industries, and offers global enterprises and leading data providers a universal gateway to all blockchains. Learn more about Chainlink: Website: Docs: Twitter: Chainlink Chainlink,