AlkyneFi

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Working and Flow
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Motivation

Inspired by the inherit design of Radix-Scrypto that allows to build DeFi systems for the best usecases we devised AlkyneFi, a trader's go-to platform to skyrocket their investment by increasing the Principal involved.. While researching about different DeFi protocols we understood that swapping of tokens for trade has been the wheel that drives the basis of crypto and there's only building over it that sustains a protocol and hence we do, by utilising the power of Margin trading.

The WHY ?

Traders risk multiple assets and opportunities to cater themselves with the profits that they try to earn and it's only fundamentally apt to ensure that they get the best out of their investment by allowing them to maximise the variables that support it.
We took compound interest as our bible and understood it piece by piece where in we first maximise profits by doubling the Principal, and suggests trader to stick longer for even more returns.

The WHAT ?

The protocol is defined simply by Invest through our pooled Principal mechanics and earn from highly profitable investments. We achieve this by using Equally Collateralised Trade. let's see how 👇

The HOW ?

Let's better understand this with a 5 simple step example, 
Lisa is a trader who is looking for a $100 investment.
1 ) She creates a joint account on our website and locks in $100.
2 ) The protocol backs her collateral by equivalent amount summing it to be $200.
3 ) Lisa governs the investment onto any of the given trade options.
4 ) Upon profitable investment Lisa withdraws the total amount.
5 ) Lisa receives  **2x** returns than what show could have if she were an individual investor.

_Maths for Nerds :_
Principal =  $200  -> $100 (Lisa) + $100 (Protocol) 
Return percentage = 40%
Return Amount = $40 (Lisa's investment) + $40 (Protocol's investment)
Total Protocol fees   = $1.6 (Protocol fees )

Total Return Amount Lisa Receives = **$178.4** 
($100 Principal + $80 profit - $1.6 [2% Protocol fees])
Total Return Amount Lisa would have received if there were no AlkyneFi = **$140** 
($100 Principal + $40 profit)

AlkyneFi helped Lisa Double her returns = **78.4 / 40 ~= 2x return**

So to summarise AlkyneFi takes in your investment principal, matches it equally and gives your double principal amount to invest leading to double the profits and returns

Setbacks and Overcomes

It was a known fact that Scrypto would be a new language for our team to learn and build But all the challenges look small when a team of hackers is inspired!
The team did not show any signs of forfeit by keeping the build ⚒️ going.

Here's how we dealt with the huddles on Discord ! Discussing with Scrypto Gods about how to create transaction manifests.

Debugging errors with Buckets occurring during contract coding.

Asking how to pass a hashmap as a parameter to a function from the frontend went on using Vectors instead.

Special mentions to Jake 🫅 for helping us out !

Accomplishments that we're proud of

Overall the first and the most important accomplishment we are proud of is Learning and Building over on a new language seamlessly, we have never seen such well documented code an early stage language.
[Technicalities]
> We are proud of being able to Integrate RadixSwap and Radix wallet to the app.
> We were able to Successfully integrate all our functions and were able to perform the run Locally.

[Team efforts]
> Complete the project well on time with equal efforts and commitments.
> Proper planning and execution.

What we learned

Radix is an amazing initiative towards making DeFi more robust, We will be keeping an eye out for the same !
The overall hackathon went to loads of Debugging and figuring out Scrypto and we are proud that we learnt a completely new architecture from scratch.

Feature list

Connect With Radix Wallet - allow to fetch basic user details and interact with the website.
Creation of Alkyne Joint account - creates a personalised joint account of the user and the protocol.
Addition of Principal - allows user to add principal to the joint account and automatically
Initiation of Investment - allows user to use the joint account principal and trade with it.
Withdraw Investment - allows user to withdraw the principal + interest (if any) earned.

Default Scenario The Fact that AlkyneFi is able to provide 2x principal functionality is based on it's inherit principal of default management, say in the previous example Lisa had taken over a loss, and the current value of her investment becomes $101 ( that is 1% more than Lisa or Protocol's principal ), the protocol detects this as an under collateralisation default and removes the investment to safe guard the protocol's principal. Since Protocol works as a multiplying factor it multiplies both risk and reward equally and that ensure that the trader is accountable for Profit as well as Default.

What's next for AlkyneFi

Having a working Proof of concept of equally collateralised trades as a part of Scrypto DeFi Challenge, AlkyneFi looks forward to concepts of Under Collateralisation Trades where in Default Loses can be minimised even further to allow for mass adoption, We would love to discuss these ideas over a meet, PFA : Calendly link to schedule a discussion. https://github.com/radixdlt/scrypto-challenges/pull/160