ItchySats — Roadmap to the most awesome Bitcoin DEX

The Vision: Reach for the moon? We reach for the stars!

  1. Non-custodial: No platform, no middle man — just you and your keys.
  2. Peer to peer: Trading partners are connected directly, no centralized instance.
  3. Secured on chain: Your positions are securely locked up on the Bitcoin blockchain.
  4. No counterparty risk: The protocol ensures your trading partner is fully backed — the margins are locked on chain for the duration of the CFD.
  5. Accountless: Start it up and trade. No account needed.

Don’t trust, verify!

The Roadmap: From here to the moon… to the stars!

  1. Open a long position as the taker against a fixed maker.
  2. The protocol is completely non-custodial, the setup is on chain.
  3. Positions are closed after 7 days unless closed by the taker earlier (perpetual positions are in the making).
  1. Perpetual CFDs: Allow you to keep the CFD position open for as long as you want. Your positions “roll over” after a fixed interval.
  2. Enable short positions: At the moment the taker can only go long — this will enable going long or short.

Fly me to the moon

Reach for the stars

Fullblown P2P DEX

Under the Hood: Inside of our Mainnet beta

  1. Maker: Publishes offers that define the CFD parameters (price offered, min value, max value, possible leverage).
  2. Taker: Connects to the maker to get offers and opens positions based on them.
  3. Oracle: Periodically signs “prices” (in our case the BTC-USD price). The signed price is used to unlock the payout transaction of the CFD to distribute the funds.

Opening a position

Closing a position

Wallet Management

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ItchySats

Non-custodial CFD trading directly on Bitcoin. DLCs make it possible. No middleman. No account. Just you and your keys. https://www.itchysats.network/