Dokodemo Door

A new limit order experience, utilising UNISWAP V3 features with 0 trading fees for limit order trading. And everything is automated.

Description

The concept of Range Orders is mentioned in Uniswap V3. LPs can deposit single tokens in a custom price range above or below the current price, and when the market price enters the set price range, the tokens provided by LPs will be sold along the curve into another asset and earn transaction fees at the same time. This is the way Uni V3 provides us to implement limit orders. And it is important to mention that by going through this form of purchase, the user is not required to provide transaction fees, for example Alice wants to buy a $50000 Token A, if she does not use Ranger Order, Alice needs to keep an eye on whether the price is at her psychological price and needs to pay up to 1% transaction fee ($500) in the process of trading, accompanied by trading slippage. So a more ideal situation would be for Alice to place the order by providing liquidity, and when the Token A's price goes down, Alice's order will be Filled to achieve a no-trading-fee, no-slip purchase. In the above scenario, there are two other issues that Dokodemo has solved. 1. Becoming a UNI V3 LP is not something that is easy to understand and operate 2. When Range Order is filled, if LP does not withdraw liquidity, when the price of the token you want to buy goes up, the token will automatically convert back to the previous token, thus there is no way to achieve a bottom. Dokodemo provides an easy-to-use interface, just like the way users used to set up limit orders, but in fact, it is a way to buy without transaction fees by becoming an LP, and it can automatically withdraw liquidity from orders that have already met the demand through the contract bot to achieve the purchase of tokens.

Dokodemo Door showcase

How it's made

-We use all the ABI/APIs of uniswap-V3-Periphery contracts which interact with one or more Core contracts but are not part of the core. They are designed to provide methods of interacting with the core that increase clarity and user safety. -The doko core contract is built on uniswap-V3-Periphery which has 4 core function: deposite (user could approve & deposite their lp nft into deko), removeLiquidity (remove the special tokenID's liquidity), withdraw (user could withdraw their lp nft) -We build a bot in python which automatically watches price fluctuations and removes lp liquidity for orders that have already met demand

Technologies used

Uniswap