Hi everyone, This is LucentLabs. We are a team of 5 developers with experience in developing production-grade dapps on UTXO blockchains like Cardano and Midnight. A plausible place to look us up is through github, our handles are as follows:
Samir Idris
Elliot Lucky
Abdulrauf Yahaya
Martins Joseph
Lawal Musa
Recently, we developed interest in the Nervos blockchain. Our particular point of interest is DeFi, specifically a Decentralized Exchange because we believe every ecosystem should have a secure, seamless, and efficient platform to exchange from Token/Asset A to Asset B, that is native to the underlying blockchain network.
To feed our curiosity, we prototyped a orderbook DEx as a Proof of Concept (Moreso a necessary step on our end to validate the product vs the target blockchain architecture fit). The PoC is live on testnet at this link: https://lucent-dex.vercel.app/
It’s a pretty straightforward test implementation that enable orderbook swapping between CKB and xUDT with real-time trades matching through a dedicated backend BOT. Current implementation does not support partial settlement, so buy and sell orders have to be exactly thesame in quantity and price before they are auto-matched.
Test Guide:
- Connect any CCC compatible wallet
- Request xUDT from the faucet through the dapp
- Get test CKB from the CKB faucet
- Place buy or sell trades or both.
Our Goal For The Product
The final target for the product is a full fledged orderbook Dex with strategic incentives to support MMs and LPs. Basically, a DEX on CKB with two layers, no traditional AMM:
Order Book: Every LP sets their own price (no formula = no impermanent loss). Each order lives as its own Cell, so orders don’t clash with each other - a natural fit for CKB’s Cell model.
Request For Quote (for big trades): Market makers give firm, guaranteed quotes. Trade settles at exactly that price with zero slippage.
Why no IL/slippage: IL only happens when a pool’s price goes stale and gets arbitraged. Here, prices are set live by real people/MMs, not a lagging formula.
Liquidity strategy:
- Spread income.
- Optional Volume-based fee rebates for active MMs.
We might consider a AMM backstop to mitigate cold-start liquidity during early launch or for less actively traded pairs before scaling out.
You can check the code, raise issues, suggest features, provide general feedbacks, and follow our work through the project’s github repository here: CKB Orderbook DEx POC
Here also is link to a review of the PoC by a Nervos community member: CKB DEx Issue Review
CTA for the community
We are asking for more reviews, feedbacks and suggestions whether on technical implementation paradigm, feature sets, or even if there’s a compelling model you think we should replicate, understudy, or take a look at. We want to hear it and talk it here.
Thank you and thank you to more feedbacks in advance.