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HyperPerp - Decentralized Perpetual Exchange on Aptos

Project Name

HyperPerp - High-Performance Decentralized Perpetual Trading Platform

Project Description

HyperPerp is a decentralized perpetual exchange built on the Aptos blockchain, featuring a hybrid architecture of off-chain matching + on-chain settlement. The project addresses trust issues in traditional centralized exchanges while achieving high-performance trading through an off-chain matching engine.

Core Features

• Perpetual Trading: Support for perpetual contracts of mainstream assets like BTC, ETH (testnet)
• Off-chain Matching Engine: High-performance order matching system based on Rust
• On-chain Fund Management: Using Move smart contracts to ensure fund security
• Risk Management System: Including margin management
• Modern Frontend: Responsive trading interface based on Next.js

Problems Solved

1. Trust Issues: Achieving decentralization through blockchain technology, with user funds managed by smart contracts
2. Performance Issues: Balancing security and performance through off-chain matching + on-chain settlement architecture
3. User Experience: Providing smooth trading experience similar to centralized exchanges
4. Fund Security: All fund operations executed on-chain, transparent and auditable

Aptos Blockchain Integration

Move Smart Contract Modules

The project fully leverages Aptos Move language features to build a complete perpetual contract system:

• perp_engine: Perpetual contract engine, handling batch settlement and trade execution
• vault_coin: Fund custody vault, using Aptos Coin standard to manage USDC
• positions: Position management module, tracking user long/short positions
• account: User account management, including collateral and unrealized PnL
• oracle_adapter: Price oracle adapter, supporting multiple price sources
• market_registry: Market parameter management, supporting dynamic addition of trading pairs
• liquidation: Liquidation mechanism, automatically handling risky positions
• events: Event system, recording all trades and state changes
• gov: Governance module, supporting multi-signature and permission management

On-chain Interaction Features

• Batch Settlement: Efficient batch trade settlement through apply_batch function
• Event Listening: Real-time state updates using Aptos event system
• Resource Management: Using Move resource model to ensure fund security
• Permission Control: Fine-grained permission management based on Aptos account model

Tech Stack

Frontend Technology

• Framework: Next.js 14.2.3 + React 18
• UI Library: Radix UI + Tailwind CSS

Backend Technology

• Matching Engine: Rust + Tokio async runtime
• Database: PostgreSQL + SQLx ORM
• API Framework: Axum Web framework
• Cache: Redis (optional)
• Message Queue: Tokio Channels

Blockchain Technology

• Smart Contracts: Move language
• Blockchain: Aptos testnet
• Development Tools: Aptos CLI + Aptos SDK
• Indexer: Rust

Installation and Running Guide

Environment Requirements

• Node.js 18+
• Rust 1.75+
• PostgreSQL 14+
• Aptos CLI

Quick Start

1. Clone the Project

git clone https://github.com/your-username/aptos-hyper-dex.git
cd aptos-hyper-dex

2. Deploy Smart Contracts

cd move/contracts/hyperperp
# Install dependencies
npm install

# Run tests
npm run test

# Deploy to testnet
./sh_scripts/deploy.sh

3. Start Matching Engine

cd rust-matching-engine

# Install dependencies
cargo build --release

# Configure environment variables
cp .env.example .env
# Edit .env file

# Start database
docker-compose up -d postgres

# Run matching engine
cargo run

4. Start Frontend Application

cd next-app

# Install dependencies
npm install

# Start development server
npm run dev

5. Start Indexer (Optional)

# Rust version (recommended for production)
cd rust-indexer
cargo run --release

# TypeScript version (for development)
cd ts-indexer
npm start

Detailed Configuration

Environment Variables Configuration

# Database configuration
DATABASE_URL=postgresql://username:password@localhost:5432/hyperperp

# Aptos configuration
APTOS_NODE_URL=https://fullnode.testnet.aptoslabs.com/v1
APTOS_ADMIN_ADDRESS=0x...
APTOS_CONTRACT_ADDRESS=0x...

# Server configuration
SERVER_HOST=127.0.0.1
SERVER_PORT=8080

Wallet Configuration

1. Log in to the exchange (Aptos-Hyper-dex)
2. Automatically connect to Aptos testnet
3. Get test tokens USDC by deploying Mint-Cypto-Testnet.

Project Highlights/Innovation Points

1. Hybrid Architecture Design

• Off-chain Matching: Achieving millisecond-level order matching, supporting high-concurrency trading
• On-chain Settlement: Ensuring fund security and immutable trades
• Optimal Balance: Balancing performance and decentralization features

2. High-Performance Matching Engine

• In-memory Order Book: Efficient order management based on BTreeMap
• Price-Time Priority: Standard exchange matching algorithm
• Batch Settlement: Reducing on-chain transaction fees and latency
• Event-Driven: Real-time trading status updates

3. Complete Risk Management System

• Dynamic Margin: Supporting differentiated margin requirements for different assets

4. Modern Development Experience

• Type Safety: End-to-end TypeScript support
• Real-time Updates: WebSocket connections for real-time data synchronization
• Responsive Design: Supporting desktop and mobile trading
• Developer Friendly: Complete test suite and documentation

5. Scalable Architecture

• Modular Design: Independent deployment and scaling of components
• Multi-chain Support: Architecture supports expansion to other blockchains
• Plugin System: Supporting custom order types and trading strategies

Future Development Plans

Short-term Goals

• Automatic Liquidation: Real-time monitoring of position risks, automatic liquidation triggering
• Price Protection: Preventing price manipulation and abnormal trades
• Multi-layer Validation: Multiple risk checks before, during, and after trades
• Mainnet Deployment: Complete Aptos mainnet deployment and audit
• More Trading Pairs: Support for mainstream assets like ETH, SOL
• Mobile Application: Develop native mobile trading application
• API Openness: Provide public API for third-party integration

Medium-term Goals

• Advanced Order Types: Support for stop-loss, take-profit, iceberg orders, etc.
• Social Trading: Support for copy trading and strategy sharing
• Institutional Services: Provide institutional-grade trading and risk control tools

Long-term Vision

• Decentralized Governance: Achieve completely decentralized protocol governance
• Layer 2 Integration: Support Aptos Layer 2 solutions
• Derivatives Expansion: Support more derivatives like options, futures
• Ecosystem Building: Build a complete DeFi ecosystem

Team Members

• Chacha @chachaxw
• CryptoTyson @debugzhao
• timerring @timerring

Demo Videos/Screenshots

Feature Screenshots

1. Trading Interface: Modern order book and trading panel
2. Position Management: Real-time position monitoring and risk management
3. Fund Management: Secure deposit and withdrawal process
4. Mobile Adaptation: Responsive design supporting various devices

Technical Demo (Offline Presentation)

• Trading Flow Demo: Complete process from opening to closing positions
• Performance Testing: High-concurrency trading stress test results

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HyperPerp - Building the Next Generation Decentralized Derivatives Trading Platform