The team behind the Liqwid Protocol has deemed it necessary that DeFi teams need Software Development Kits (SDKs) for dApps and oracles to build extensible use-cases with maximum security and composability on Cardano. The mission is to make it easier for upcoming DeFi teams to create projects without starting from the ground up. Therefore, creation of SDKs will allow them an easier development process, as certain features and tools will already be available, in good quality, and fully functional. The team has proposed three solutions to the existing problems: Javascript SDK for Cardano, Liqwid Oracle Open Prices, and Android SDKs.
Javascript SDK for Cardano
The SDKs will be developed not only to serve the Cardano ecosystem, but also for developers interested in building open financial applications on top of the Liqwid protocol.
There will also be the inclusion of a complete set of API’s to enable a developer’s product or service to communicate with Liqwid using JavaScript. The inclusion of Liqwid API’s within the SDK can make app development simpler for future Cardano DeFi teams building composable solutions like the Liqwid Oracle Open Prices and Android SDKs.
Liqwid Oracle Open Prices
The proposed project is the Liqwid oracle open prices, which is a system allowing reporters to sign price data using a known public key, that can be submitted on-chain by Posters or Cardano addresses. Therefore, different data sources such as Binance, Kraken, Coinbase or DEXs can act as reporters that sign off-chain price data and enable Cardano accounts to post the public key signed data to the blockchain.
Using the open price feed format, exchanges can use their public keys to sign price data as Reporter’s, who are tasked with the responsibility of signing prices every few minutes for assets traded on their exchanges.
The project will contain all the contract logic for a functional Cardano price feed with components like on-chain storage, posting price data to Cardano, off-chain price data, and price views.
Android SDKs
This proposal is meant for mobile dApp developers to be able to build composable mobile 1st Cardano DeFi dApps using Liqwid’s open source developer tools. Android was chosen as the first mobile SDK to develop since the team’s technology partners have more experience building Android SDKs for mobile app developers.
The APIs aim is to ease development by allowing developers to have flexibility through streamlined design, administration and use and open up significant innovation opportunities.
The Team
The project was introduced to the platform by Dewayne Cameron, who has been a member since Aug. 12, 2020. He is an entrepreneur and developer working with 4ire Labs, a technology partner that provides custom financial solutions and dedicated teams to FinTech startups and enterprises.
Cameron is part of Liqwid finance, an algorithmic protocol for lending and automated liquidity provision. Since joining the platform, Cameron has contributed 14 ideas such as Cardano DeFi liquidity pools scale-up Cardano’s DeFi ecosystem, and Haskell developers for Liqwid Plutus SC’s.
Being part of a big and recognized protocol is an advantage for a proposed project as the community is assured of a committed and skilled team. Cameron has listed having experience with Tweag and Ryan Miranda, who also have a reputation of quality delivery. Tweag is a software innovation lab that partners with visionary startups and global leaders to manage assets safely.
Funding
The Liqwid finance team is requesting for funding in the tune of $53,000 to facilitate the development of this solution. The team has not provided a breakdown of the use of funds, and as such, the total sum will be used to cater for all the expenses incurred in the whole undertaking.
Final Thoughts
The DeFi market has been growing at a speedy rate, offering so many solutions to the market. However, challenges such as lack of SDKs for building extensible use-cases can affect the quality of the platforms and their service delivery.
The proposed solutions are timely and will allow developers maximum security and composability as well as reduce the development time. Additionally, it will allow more DeFi protocols to build on the Cardano platform, which has not been the case. Attracting more DeFi platforms to Cardano will benefit all parties involved, as Cardano has proved to be the fastest blockchain in terms of transaction speed.
If you’d like to know more information or have questions/comments regarding Liqwid’s Developer Portal proposal, check out the link provided: https://cardano.ideascale.com/a/dtd/Liqwid-Developer-Portal-Cardano-SDK/333382-48088
