The Open Protocol
Sentre is all about Openness.
Last updated
Sentre is all about Openness.
Last updated
Currently, most liquidity protocols are programmable, not open. Programmability means that some documents, software development kits (SDKs), or application programming interfaces (APIs) are provided to develop your applications on top of the protocol. However, they are by no means a native function on the protocol. A typical instance is Uniswap.
Uniswap allows developers to freely develop applications such as Staking services of LPTs, Oracles, Flash Swap services, and others. However, they’re certainly not available functions that you could find on the Uniswap application. These “sided” protocols live on many separate domains, making it difficult to manage all at once.
PancakeSwap, as well as SushiSwap, are both trying to serve as many wide-adopted services as possible on their platforms. Unfortunately, one solution can’t fit all. It’s clear that sometimes the platform is too inadequate or superfluous in functioning; or even both.
Openness is different. Applications from the community can be a native part on the Sentre platform. People can decide what they need and gather them together on one page. Sentre proposes a “DApp Store” concept where developers deliver their solutions to users who are free to pick and choose what suits them most.
The openness depicted above is still trivial compared to the openness in liquidity, though. All individuals involved in a pool can participate in deciding on liquidity usage. The exchange fee for LPs is compulsory and the LPTs depend on LPs’ favor, but the protocol charge seems more like a private reward for the foundation.
Sentre protocol being open means the protocol charge should encourage community projects, including projects developed by the foundation. At this moment, automation is really needed to realize the ability of plug-and-play, which allows a pool to effectively change the target of the charge. The problem solver here is SEN, the universal interface of Sentre’s ecosystem. SEN lets all charges be unified to a single interface. The community projects now only consume one socket, therefore, LPs are free from the complexity of multiple assets.
These days, few liquidity protocols are occupying a large part of the global liquidity, while other projects are struggling to find sufficient liquidity. Open liquidity is an optimized way to circulate liquidity, increase effectiveness in liquidity usage, and encourage innovation from developers in the community.
To increase the speed to realize ideas and deliver complete applications to users, developers must rely on many open-source frameworks and libraries. On top of that, newcomers must also put more effort into terminology understanding and technical stacks. This process could be shortened if there were full and detailed documents to support them.
Therefore, we orientated the Sentre protocol towards being an Open Platform. Sentre will provide a complete solution with how-to documents for developers, newbies and seniors alike. As a basic stack (see Fig. 1), the tool-chain will include:
A framework to develop smart contracts on Solana.
A library to communicate between off-chain applications and smart contracts.
A system UI to provide a consistent style for all applications.
Developers can access the Sen Team’s github and browse through our repositories for materials and source codes, among other things. Sen Team also offers support and consulting services if needed.
Putting the application development process aside, new projects also have to face the struggle of finding liquidity and users. By integrating themselves into Sentre’s ecosystem, they can inherit existing liquidity and the current set of users, which enables them to go faster and win earlier.
However, Openness doesn’t mean any and everyone can freely access and use the liquidity for their own purpose. In regard to liquidity access permission, the projects must prove their rational purpose and vision. Next, the SEN holder community will vote for their favorite projects. Winners will work directly with the Sen Team to correctly integrate their services into Sentre’s ecosystem. We are able to avoid scams or ineffective projects by these strict procedures. To realize this objective, DAO will be employed (see Fig. 2).
