Roadmap Q1 2021
Roadmap Q1
- AS2 Protocol Node (Server)
- AS2 Network
- AS2 Network and Manifold Finance
- Expectations for the first 3 months
- $EDI Token Updates
- Community News and some ‘works in progress’
AS2 Network
Transitioning Branding Assets to new identity (end of January 2021)
AS2 Node Software and Documentation
Documentation can be found here: https://as2network.github.io/documentation-as2/
AS2NG (Node Software) can be found here:
https://github.com/as2network/as2ng
Except as2ng to be versioned release (meaning a stable 1.0.0 release — right now its considered ‘beta quality’ mid February)
$EDI Token — Circulating Supply and CMC/CoinGecko Updates
Automated service can be found here: https://github.com/freight-trust/edi-token-utils — Deploying for CMC/CoinGecko so they can update supply with Staking Payouts. Will update before end of month (January 2021)
AS2 Network — Enterprise Connectivity with DeFi Use Case
AS2 Network Nodes
Nodes will be converted into a new setup detailed below. This new setup *should* generate positive cash flow, and you will see how below.
BackBone Cabal + AS2
This is a strategy that realizes profit by smart transaction batching for the purposes of arbitrage by controlling transaction ordering. This is a strategy that will be maintained under the Manifold Finance name but will utilize the available nodes running different software for this purpose.
This service will also be of value to Baseline Protocol, as it ensures transactions will stay private until mined. When you read the strategy below you will see why we mention this beforehand: This is more than just an arbitrage strategy, it also provides secure main net access that is not addressed currently by any provider in the context of business usage / baseline.
YCabal
Right now every user sends a transaction directly to the network mempool and thus give away the arbitrage, front-running, back-running opportunities to miners(or random bots).
YCabal creates a virtualized mem-pool (i.e. a MEV-relay network) that aggregates transactions (batching), such transactions include:
DEX trades
Interactions with other protocols
Auctions
etc
Efficiency by Aggregation
By leveraging batching, miner transaction flow, and providing additional performant utilities (e.g. faster calculations for finalizing), we can realize the following potential avenues for realizing profitable activities:
- Meta Transaction Functionality
- Order trades in different directions sequentially to produce positive slippage
- Backrun Trades
- Frontrun Trades
- At least 21k in the base cost on every transaction is saved
If we have access to transactions before the network we can generate value because we can calculate future state, off-chain
Think of this as creating a Netting Settlement System (whereas blockchains are a real time gross settlement system)
User Capture
The whole point of Backbone Cabal is to maximize profits from user actions which gets distributed for free to miners and bots. We intent to extract this value and provide these profits as **cashback** to users.
For example: A SushiSwap trader who loses X% to slippage during his trade can now get X-Y % slippage on his trade, because we were able to back run his trade and give him the arbitrage profits.
Backbone Cabal gets better and better as more transactions flow because there is less uncertainty about the future state of the network.
Gas Free Trading
- SushiSwap as an example
Rebates
Profits can be rebated to end users
Volume Mining
Other protocols can join the network and turn their transaction flow into a book of business with our network of participants
Solution Set
ArcherDAO
Manifold Finance
Kafka based JSON RPC and API Gateway
kdb+
Attack Vectors against the Backbone
DDoS
Exploits
Additional Disclosures forthcoming
Ecosystem Benefits
- Can act as a failover web3 provider (e.g. Infura/AlchemyAPI outage)
- Transaction Monitoring
- Security Operations for Contracts
Engine
YCabal uses a batch auction-based matching engine to execute orders. Batch auctions were chosen to reduce the impact of front running on the exchange.
- All orders for the given market are collected.
- Orders beyond their time-in-force are cancelled.
- Orders are placed into separate lists by market side, and aggregate supply and demand curves are calculated.
- The matching engine discovers the price at which the aggregate supply and demand curves cross, which yields the clearing price. If there is a horizontal cross — i.e., two prices for which aggregate supply and demand are equal — then the clearing price is the midpoint between the two prices.
- If both sides of the market have equal volume, then all orders are completely filled. If one side has more volume than the other, then the side with higher volume is rationed pro-rata based on how much its volume exceeds the other side. For example, if aggregate demand is 100 and aggregate supply is 90, then every order on the demand side of the market will be matched 90%.
Orders are sorted based on their price, and order ID. Order IDs are generated at post time, and is the only part of the matching engine that is time-dependent. However, the oldest order IDs are matched first so there is no incentive to post an order ahead of someone else’s.
We have already spoken with SushiSwap, and will be pursuing this actively.
Community Related updates
Community Integration — Soft Consideration
Several people from the ShipChain community have reached out to us looking for a possible merger or integration, a proposal of what that would look like is forthcoming and will be put to a vote if the community thinks it’s a good move.
Manifold Finance + Freight Trust /AS2 Network
I hope you can see the cross overs already with Manifold Finance and Freight Trust/AS2 Network. You can see that the name change to AS2 Network already makes sense in the view of the network layer being an enterprise / premium connectivity service rather than just a use-case specific service. More details after the launch of Manifold will be announced, and this sort of expanded focus will help ensure the networks viability in the short run. Our focus on providing physically settled commodities on-chain is within reach with this expansion, along with bringing in the partnerships like Drewry that we have worked over the last year finally to market.
