IVX is a automated market maker for short term option contracts taht facilitate liquid trading positions for both writers and buyers. IVX adopt a Peer to pool market making style where users are able to trade liquid contracts up to 1 hour before expiry, while liquidity providers benefit from low correlated market making process and trading fees
Customer Challenge
IVX approached White Stork with the goal of developing a cutting-edge 0DTE (zero days to expiration) options trading platform built on the EVM (Ethereum Virtual Machine) network. This type of platform, with its high-frequency trading requirements, demanded an architecture capable of handling significant throughput, low latency, and real-time decision-making.
Key Challenges:
Scalability:
The nature of 0DTE options trading introduces rapid bursts of activity as users place trades and adjust positions within narrow timeframes. Traditional blockchain architectures often struggle to meet such demands due to limitations in transaction throughput and network congestion.
Keepers and Automation:
Managing the system required automated processes (keepers) to monitor and execute critical tasks, such as ensuring trades were completed on time and maintaining system integrity under volatile market conditions. The complexity of configuring reliable keepers while accounting for fluctuating network factors like gas fees and transaction delays presented a significant challenge.
System Reliability and Performance:
The platform needed to provide users with a seamless and trustworthy experience, but achieving this required addressing issues such as load balancing, efficient smart contract design, and real-time data updates.
Solution
To address the challenges faced by IVX, White Stork implemented a comprehensive solution leveraging a modular protocol design, modern cloud infrastructure, and DevOps best practices.
Modular Protocol Design
The IVX Protocol was developed with a modular architecture to ensure scalability, maintainability, and flexibility. Each module within the protocol is self-contained and designed to handle specific functional areas, such as trade execution, risk management, and settlement
This modular approach allowed for iterative development, easier debugging, and the flexibility to adapt to evolving market requirements.
Scalable Automation with AWS
To manage the critical task automation requirements (keepers), White Stork utilized AWS Cloud Services, focusing on scalability and reliability. The infrastructure included:
Amazon ECS: For containerized deployment of keepers, ensuring efficient and scalable execution of time-sensitive tasks.
Amazon SQS: To manage and queue task workflows, enabling high throughput and fault-tolerant communication between system components.
These services ensured that the keepers could handle the dynamic workloads inherent in 0DTE options trading while maintaining system reliability and performance.
DevOps Best Practices
To ensure a streamlined development and deployment process, White Stork adhered to DevOps best practices, including:
Infrastructure as Code (IaC): Automating the provisioning and management of infrastructure using tools like AWS CloudFormation and Terraform, enabling consistency and repeatability.
CI/CD Pipelines: Implementing continuous integration and deployment pipelines to accelerate development cycles and ensure smooth rollouts.
Monitoring and Logging: Setting up robust monitoring and logging mechanisms to proactively identify and resolve issues, ensuring the platform's high availability and performance.
Results and Benefits
The solution implemented by White Stork significantly enhanced IVX's trading platform, addressing the challenges of scalability, reliability, and maintainability. The results and benefits include:
Results:
Enhanced Reliability:
The integration of robust keepers on AWS minimized downtime and ensured the timely execution of tasks, even in volatile market conditions. This provided users with a dependable trading experience, building trust and engagement.
Faster Iteration Cycles:
By implementing DevOps best practices, including CI/CD pipelines and Infrastructure as Code, the development team reduced deployment times, allowing for quicker updates and the introduction of new features without disruptions.
Seamless Upgradability:
The upgradable architecture of the protocol ensured that improvements and optimizations could be integrated without requiring system overhauls, keeping the platform future-proof.
Cost Efficiency:
Leveraging AWS cloud infrastructure and automated DevOps practices reduced operational overhead, optimizing resource usage and minimizing unnecessary costs.
Benefits:
User-Centric Experience:
The high-performance platform provided users with a seamless trading experience, marked by real-time updates and reliable execution, enhancing customer satisfaction and retention.
Future-Proof Design:
The modular and upgradable architecture positioned the platform for long-term success, with the flexibility to adapt to evolving market demands.
Operational Excellence:
The automation of infrastructure management and task workflows reduced manual interventions, allowing the IVX team to focus on innovation and core business objectives.
Market Differentiation:
The robust nature of the platform provided IVX with a competitive edge, enabling it to attract and retain traders seeking 0DTE options trading.
Through its tailored solution, White Stork empowered IVX to achieve its goals, delivering a world-class 0DTE options trading platform that meets the needs of a rapidly evolving financial market.