Project Waves

Building Defi for Bitcoin on Liquid.

What you will find here

This project includes:

• bobtimus: a daemon which acts as an automated market-maker offering buy and sell L-BTC/L-USDt trades based on a rate pulled from Kraken. It also serves a website which acts as an interface for browser extensions to reach bobtimus' HTTP API.
• waves_wallet: a Liquid wallet as a browser extension. When visiting bobtimus' website, a waves_wallet user can perform L-BTC/L-USDt atomic swaps in a couple of clicks.

Try it out on regtest

Environment Setup

Install nigiri from https://github.com/vulpemventures/nigiri

curl https://getnigiri.vulpem.com | bash

For our scripts you will need jq as well. You can get it from https://stedolan.github.io/jq/.

Start nodes:

./waves-scripts start_nodes

For our tools to work we need to know which asset ID is the native asset (i.e. Bitcoin).

./waves-scripts load_native_asset

This will create a file in your directory with an asset ID in it called .native_asset_id

If successful, we need to mint a new asset. This asset will be our USDT asset for the purpose of atomic swaps and lending. The asset ID of this new asset will be in .usdt_asset_id

./waves-scripts mint_usdt

Start the Maker (Bobtimus)

Once the environment setup is done you can go ahead and start bobtimus:

./waves-scripts start_bobtimus

This will start bobtimus in a detached mode. Its PID can be found in .bobtimus and the logs in ./logs/bobtimus.

While bobtimus is hosting a production version of waves on http://localhost:3030 you probably want a development build while working on it. For that run the following command and keep the terminal open. Your waves application will be reachable under http://localhost:3004.

Note that you can use this in the browser that includes the web-extension (see next section). For trading with Bobtimus the web extension is required, so you will have to complete running the taker web extension

./waves-scripts start_webapp

Run the Taker Web Extension

Last but not least, you will need the web extension:

• Make sure you are in the directory of the web extension: cd extension
• Make sure you installed nodejs dependencies: yarn install
• Build the web extension, including wasm build of the web extension's wallet, run: yarn watch
  • On MacOs we encountered probems with the default clang compiler.
    • You can overcome this by installing llvm: brew install llvm
    • Then run: CC=/usr/local/opt/llvm/bin/clang AR=/usr/local/opt/llvm/bin/llvm-ar yarn watch
• Once yarn watch has Completed successfully run: yarn start

If everything was successfully, you now see a firefox browser with the extension enabled and the browser console being opened. The latter one is useful for degbugging purposes as it will print all kinds of stuff.

What's coming

With atomic swaps serving as the foundation, financial products such as borrowing and lending are on the horizon.

Where to reach us

If you have any questions about this project or want to keep up with its development, join the COMIT-Liquid Matrix channel.