Coinlocker | Devpost

/decrypt_keys
/register
high level architecture

Inspiration

I wanted to buy Solana meme coins using bitcoin. The idea was to create a seamless and automated process to convert Bitcoin into Solana-based tokens, specifically for users who want to diversify their holdings into the Solana ecosystem.

What it does

The Bitlocker bot enables users to register and perform Bitcoin deposits, which are then automatically converted into Solana tokens. The bot interacts with Kraken for BTC deposits, handles transaction processing, and completes the conversion and transfer to the user's Solana wallet.

How we built it

We built Bitlocker using Python for the bot logic, Flask for health checks, and MongoDB for storing user and transaction data. The Telegram bot is powered by the python-telegram-bot library, and we utilize aiohttp for asynchronous API requests to Kraken. The backend logic for handling swaps and withdrawals is written in Rust, leveraging the Solana SDK for executing transactions on the Solana blockchain.

Challenges we ran into

Ensuring secure and accurate handling of financial transactions. Managing asynchronous API requests and handling potential errors gracefully. Coordinating between different components (Python bot, Rust backend) to ensure seamless integration. Handling edge cases where transactions might fail or encounter issues during processing.

Accomplishments that we're proud of

Successfully integrating Kraken's API to handle Bitcoin deposits using the lightning network to generate deposit addresses. Implementing a robust system for tracking and processing user transactions. Creating a seamless experience for users to convert BTC to Solana tokens and receive them in their Solana wallet. Ensuring high levels of security and accuracy in handling financial data.

What we learned

Effective techniques for integrating multiple APIs and managing asynchronous requests. Best practices for securing financial transactions and handling cryptocurrency operations. The importance of thorough error handling and logging for debugging and maintaining the system. How to work with the Solana SDK and perform blockchain transactions programmatically.

What's next for Coinlocker

Adding support for more cryptocurrencies and tokens beyond Solana meme coins. Implementing advanced features such as automated trading strategies and portfolio management. Enhancing the user interface and user experience to make it even more intuitive. Exploring partnerships with other exchanges and platforms to expand the bot's capabilities. Continuously improving the system based on user feedback and evolving market conditions.