@GeneralProtocols
edited
AnyHedge Beta is Live!
AnyHedge is the flagship protocol of General Protocols (GP). To a speculator, AnyHedge is a way to bet on the price of BCH going up or down. To a regular BCH user, AnyHedge is a way to remove price volatility for a period of time without having to sell BCH for another asset like a stablecoin. To a DeFi builder, AnyHedge is a non-custodial BCH short/long derivative that can be fully anonymous or fully KYC compliant depending on needs. Anyone can use GP's open source tools to create and verify AnyHedge contracts with zero barrier to entry. The same tools can submit contracts to the GP redemption service for timely and reliable redemptions. GP invites you to experiment with the beta and create new ways to long and short in a trustless peer to peer way. You can see how the contract works here: anyhedge.com/how-it-works/#simulator . https://anyhedge.com/how-it-works/#simulator **Technical Resources** 1. Create and verify contracts https://www.npmjs.com/package/@generalprotocols/anyhedge Public key for the beta oracle, needed when creating contracts: `0273ee49099f0a09be514cbb45756bf49ad256d0a6de993107e98c89c16b6fa84e` 2. [Optional] Directly access the beta oracle price feed or even create your own. https://www.npmjs.com/package/@generalprotocols/price-oracle Connect to `oracles.generalprotocols.com` to listen for broadcasted oracle messages **Best Practices During the AnyHedge Beta** Remember that the beta uses US Cents. E.g. 10 USD is 1000 Cents. Start with small hedge values such as 1 USD (100 Cents) before trying larger ones. The AnyHedge libraries impose a hard upper limit of 10,000 USD (1,000,000 Cents). Fund both hedge and long sides of a contract in one transaction. Do not reuse BCH addresses in contracts. Reusing exact contract parameters will result in the same contract address. Currently the beta redemption service settles all funds on a contract address in one transaction that sweeps excess as miner fees. This will be improved with later updates. GP will wind down our beta oracle and beta redemption service with a 2-week notice. In order to ensure that all your beta contracts will be settled, GP recommends setting short contract maturity between immediate (0 blocks) and 3 days (432 blocks). GP will establish the process for redemption service fees during the beta period, but at the beginning there are no redemption service fees. Creation and validation of contracts is part of the open source protocol created by GP and will always be free. Get in touch: Telegram: t.me/AnyHedge https://t.me/AnyHedge Email: marcel.chuo@generalprotocols.com Website: anyhedge.com/contact https://anyhedge.com/contact Telegram direct message: @MarcelChuo ****General Protocols Blog**** This article forms part of the **General Protocols Blog**, a collection of cross-platform links showcasing our team's community activity, Bitcoin Cash projects, UTXO development, and general crypto musings. https://blog.generalprotocols.com/
20 comments
Nice
This is all really fantastic! 🤩 Looking forward to the first DeFi app on Bitcoin 🧐 __buuttt..__ if you had an animated vid or even just a screencast walkthrough of the whole process, now THAT would really get folks up-to-speed with your new platform .. would certainly prefer LBRY, but I'll watch if you put it up on YouTube 😒
This will come, but since we're a new start-up and we need the initial revenue, our priorities right now is to complete the first exchange integration and get a product on the street. For now, consider this an invitation to be an early adopter - it might not be the most graceful, and it might still have bugs - but it's there and you can use it right now.
__tl;dr need short explainer posts like what you did for `electrum-cash`__ __NO WAY DUDE!!__ you gotta show me how it works .. I'd have already been in that "early adopter" soup, but I barely understand the concepts of AnyHedge let alone how to begin USING it .. went to https://anyhedge.com/get-started/ > Want to try it? Visit Detoken but that doesn't appear to be live yet then there's https://anyhedge.com/how-it-works/ which has a very elaborate calculation widget at the bottom; but I have no idea what any of that means (need a guide or tooltips) for folks to understand how to get going with AnyHedge, some form of walkthrough is critical (if not vid, then screenshots would do fine) .. __not afraid of command-line,__ i would quickly block a day to spend getting familiar with the platform, but I don't know what I'm supposed to be expecting.. > and it might still have bugs i use DEET, no worries
I guess that's what this readcash post is all about, it linked to the anyhedge-library on npm, which should show this readme file: https://gitlab.com/GeneralProtocols/anyhedge/library/-/blob/development/README.md The list of functions can be found here: https://generalprotocols.gitlab.io/anyhedge/library/AnyHedgeManager.html To get a better look into the data structures, either look into the typescript declarations here: https://gitlab.com/GeneralProtocols/anyhedge/library/-/blob/development/lib/interfaces.ts ... or look at the example test data here: https://gitlab.com/GeneralProtocols/anyhedge/library/-/blob/development/test/usecases/hedge10week.ts As for understanding how the contract works, the long story is in the whitepaper here: https://gitlab.com/GeneralProtocols/anyhedge/whitepaper ... but the simulator on the anyhedge website is the simplest showcase/explanation we can give today: just enter an amount on either the long or the short side, how much volatility in percent the contract should protect against for the short/hedge side and then drag the slider at the bottom to see what the outcome would be at different price levels.
> just enter an amount on either the long or the short side this seems important to understand, and yet I have no idea what it means 🤔 thanks for the links; will review and follow-up once I've gotten my feet wet
Anyhedge is a risk-trading contract. There is three parties to the contract, the oracle (which has no funds, but is used a trusted price source), the hedge/short (seeks stability, is selling their risk) and the long (seeks speculation, buys the risk). The hedge/short party inputs some bitcoin cash matching a specific value in fiat, and the long inputs some bitcoin cash as a collateral pool. If the price goes down, some bitcoin cash is transferred from the long to the hedge. If the price goes up, some bitcoin cash is transferred from the hedge to the long. If the contract needs to transfer more bitcoin cash from either side to the other, than exist on the originating side, the contract is liquidated and all funds are paid out. Example: say you have $20 in bitcoin cash today, and you want to buy something for $20 a month from now. Since bitcoin cash value is volatile, it wouldn't make much sense to just wait and hope. By putting your $20 worth of bitcoin cash into an anyhedge contract that matures after a month, you would get $20 worth of bitcoin cash out again, at whatever price BCH as at that time.
> the hedge/short (seeks stability, is selling their risk) and the long (seeks speculation, buys the risk) ok, that covers the abc's of AnyHedge 🤔 > By putting your $20 worth of bitcoin cash into an anyhedge contract that matures after a month, you would get $20 worth of bitcoin cash out again, at whatever price BCH as at that time. __yes!__ this is the "practical" application as I understand it .. imo, this should be implemented into the model for an SLP stablecoin --- one question I had regarding the model, is there is no mention of __time;__ so how does your $20 in a month example get plugged into the model's params?
You need to estimate the blockheight at which the contract should mature. The libraries takes a parameter for the number of blocks the contract should run for. I would be thrilled to see someone make a functional and attractive stablecoin on this, as that would mean the stablecoin would by definition have auditable and proven reserves.
> The libraries takes a parameter for the number of blocks the contract should run for. i see .. will make time to check out the libraries .. just need to see it run once from end-to-end, then I should hopefully have a much better grasp > the stablecoin would by definition have auditable and proven reserves something like MakerDAO's Dai is what I envision 🧐
End-to-end, like this? https://gitlab.com/GeneralProtocols/anyhedge/library/-/blob/development/examples/custodial.js
> https://gitlab.com/GeneralProtocols/anyhedge/library/-/blob/development/examples/custodial.js nice! will give that code a closer look 🧐
What Jonathan said :D However yeah, that explainer video is exactly what has been on my mind today. We will get that also.
> that explainer video is exactly what has been on my mind today. We will get that also. yeah, the https://anyhedge.com/get-started/ doesn't really tell me anything about getting started .. not sure when the exchange/api will be ready for "beta" (I'm avail for "alpha") testing but at that point there really should be a reference/use-case/article for the "practical" application(s) of AnyHedge
AnyHedge is a good development as BCH needs futures trading platforms to boost its ass adoption.
> ass adoption ;-)
Excellent
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Very good article
Good sharing!