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How We Solved the Trust Problem in P2P Trading

A technical deep-dive into replacing human guarantors with smart contracts and automation

The Technical Challenge

When building a P2P trading platform for Telegram NFT gifts, we faced a classic distributed systems problem: how do you enable trustless transactions between untrusted parties?

Traditional platforms solve this with human guarantors - essentially trusted third parties who manually verify transactions. But this approach has fundamental limitations:

  • Single point of failure: Human guarantors create bottlenecks
  • Scalability issues: Manual processes don't scale with volume
  • Availability constraints: Humans work limited hours
  • Error probability: Manual verification introduces human error
  • Cost inefficiency: Human labor costs are passed to users (5% fees)

We decided to solve this with a fully automated guarantor system. Here's how we built it.

System Architecture Overview

Our automated guarantor system consists of several key components:

┌─────────────────┐    ┌─────────────────┐    ┌─────────────────┐
│   Frontend      │    │   Backend API   │    │ Guarantor Bot   │
│   (React/Vite)  │◄──►│   (Go/REST)     │◄──►│  (@turnbler)    │
└─────────────────┘    └─────────────────┘    └─────────────────┘
         │                       │                       │
         │                       ▼                       ▼
         │              ┌─────────────────┐    ┌─────────────────┐
         │              │   Database      │    │ TON Blockchain  │
         └──────────────►│   (Offers)      │    │ (Payments)      │
                        └─────────────────┘    └─────────────────┘
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Core Technologies

  • Backend: Go with fiber framework for high-performance API
  • Frontend: React + TypeScript + Vite for modern UX
  • Blockchain: TON blockchain for payment processing
  • Bot Framework: Telegram Bot API for gift handling
  • Database: Lightweight storage for offer state management

The Trading State Machine

At the heart of our system is a finite state machine that manages offer lifecycle:

type OfferStatus string

const (
    StatusCreated     OfferStatus = "created"      // Initial state
    StatusPaymentSet  OfferStatus = "payment_set"  // Payment configured
    StatusPaid        OfferStatus = "paid"         // Payment confirmed
    StatusGiftSent    OfferStatus = "gift_sent"    // Gift transferred
    StatusCompleted   OfferStatus = "completed"    // Transaction finished
    StatusCancelled   OfferStatus = "cancelled"    // Transaction failed
)
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Each state transition is governed by strict rules and timeouts:

State Transition Logic

func (o *Offer) ValidateTransition(newStatus OfferStatus) error {
    validTransitions := map[OfferStatus][]OfferStatus{
        StatusCreated:    {StatusPaymentSet, StatusCancelled},
        StatusPaymentSet: {StatusPaid, StatusCancelled},
        StatusPaid:       {StatusGiftSent, StatusCancelled},
        StatusGiftSent:   {StatusCompleted},
    }

    valid := contains(validTransitions[o.Status], newStatus)
    if !valid {
        return fmt.Errorf("invalid transition: %s -> %s", o.Status, newStatus)
    }
    return nil
}
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Automated Payment Detection

One of the most critical components is automatic payment detection. We built a blockchain monitoring system that:

1. Temporary Wallet Generation

For each transaction, we generate a unique temporary TON wallet:

func GenerateTemporaryWallet() (*Wallet, error) {
    // Generate new key pair
    privateKey, err := crypto.GeneratePrivateKey()
    if err != nil {
        return nil, err
    }

    // Derive wallet address
    publicKey := privateKey.PublicKey()
    address := ton.DeriveWalletAddress(publicKey)

    return &Wallet{
        Address:    address,
        PrivateKey: privateKey,
        CreatedAt:  time.Now(),
    }, nil
}
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2. Real-time Balance Monitoring

We continuously monitor wallet balances using TON blockchain API:

func (w *WalletMonitor) MonitorBalance(address string, expectedAmount float64) {
    ticker := time.NewTicker(5 * time.Second)
    defer ticker.Stop()

    for {
        select {
        case <-ticker.C:
            balance, err := w.tonClient.GetBalance(address)
            if err != nil {
                continue
            }

            if balance >= expectedAmount {
                w.notifyPaymentReceived(address, balance)
                return
            }

        case <-w.ctx.Done():
            return
        }
    }
}
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3. Automatic State Updates

When payment is detected, the system automatically progresses the offer state:

func (s *OfferService) HandlePaymentReceived(offerID string, amount float64) error {
    offer, err := s.GetOffer(offerID)
    if err != nil {
        return err
    }

    if offer.Status != StatusPaymentSet {
        return errors.New("invalid offer status for payment")
    }

    if amount < offer.PaymentAmount {
        return errors.New("insufficient payment amount")
    }

    // Update offer status
    offer.Status = StatusPaid
    offer.UpdatedAt = time.Now()

    return s.UpdateOffer(offer)
}
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Gift Verification System

The most complex part of our automation is verifying gift transfers. This involves:

Telegram Bot Integration

Our bot (@turnbler) integrates with Telegram's API to handle gift transfers:

type GiftBot struct {
    api       *tgbotapi.BotAPI
    processor *GiftProcessor
}

func (b *GiftBot) HandleUpdate(update tgbotapi.Update) {
    if update.Message != nil && update.Message.Gift != nil {
        gift := update.Message.Gift

        // Verify gift authenticity
        if !b.processor.VerifyGift(gift) {
            b.sendMessage(update.Message.Chat.ID, "Invalid gift received")
            return
        }

        // Process gift transfer
        err := b.processor.ProcessGiftTransfer(gift, update.Message.From.UserName)
        if err != nil {
            b.sendMessage(update.Message.Chat.ID, "Gift processing failed")
            return
        }

        b.sendMessage(update.Message.Chat.ID, "Gift received and processed successfully")
    }
}
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Gift Authenticity Verification

We validate gifts using multiple criteria:

func (p *GiftProcessor) VerifyGift(gift *Gift) bool {
    // Check gift URL format
    if !isValidGiftURL(gift.URL) {
        return false
    }

    // Verify gift hasn't been used
    if p.isGiftAlreadyUsed(gift.URL) {
        return false
    }

    // Check gift ownership through Telegram API
    owner, err := p.telegramAPI.GetGiftOwner(gift.URL)
    if err != nil || owner != gift.FromUser {
        return false
    }

    return true
}
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Timeout and Safety Mechanisms

Automatic Timeouts

Every critical operation has strict timeouts to prevent stuck transactions:

type OfferTimeouts struct {
    PaymentWindow time.Duration // 15 minutes for payment
    GiftWindow    time.Duration // 15 minutes for gift transfer
}

func (s *OfferService) StartPaymentTimer(offerID string) {
    timer := time.NewTimer(s.timeouts.PaymentWindow)

    go func() {
        <-timer.C

        offer, err := s.GetOffer(offerID)
        if err != nil {
            return
        }

        // Auto-cancel if payment not received
        if offer.Status == StatusPaymentSet {
            offer.Status = StatusCancelled
            s.UpdateOffer(offer)
            s.ProcessRefund(offer)
        }
    }()
}
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Automatic Refund System

Failed transactions trigger automatic refunds:

func (s *RefundService) ProcessRefund(offer *Offer) error {
    if offer.TempWalletBalance <= 0 {
        return nil // Nothing to refund
    }

    // Create refund transaction
    tx := &Transaction{
        From:   offer.PaymentDstTemp,
        To:     offer.BuyerWallet,
        Amount: offer.TempWalletBalance,
        Type:   TransactionTypeRefund,
    }

    // Execute on blockchain
    txHash, err := s.tonClient.SendTransaction(tx)
    if err != nil {
        return fmt.Errorf("refund failed: %w", err)
    }

    // Log for audit trail
    s.logger.Info("Refund processed", 
        "offer_id", offer.ID,
        "amount", offer.TempWalletBalance,
        "tx_hash", txHash)

    return nil
}
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API Design for Automation

Our REST API is designed for seamless automation:

Idempotent Operations

All state-changing operations are idempotent to handle retries safely:

func (h *OfferHandler) SetPayment(c *fiber.Ctx) error {
    req := &SetPaymentRequest{}
    if err := c.BodyParser(req); err != nil {
        return c.Status(400).JSON(fiber.Map{"error": "invalid request"})
    }

    offer, err := h.service.GetOffer(req.OfferID)
    if err != nil {
        return c.Status(404).JSON(fiber.Map{"error": "offer not found"})
    }

    // Idempotent: if payment already set with same params, return success
    if offer.Status == StatusPaymentSet && 
       offer.PaymentAmount == req.Amount &&
       offer.PaymentDst == req.Destination {
        return c.JSON(offer)
    }

    // Otherwise, validate and update
    if offer.Status != StatusCreated {
        return c.Status(400).JSON(fiber.Map{"error": "invalid offer status"})
    }

    updatedOffer, err := h.service.SetPayment(req.OfferID, req.Amount, req.Destination)
    if err != nil {
        return c.Status(500).JSON(fiber.Map{"error": err.Error()})
    }

    return c.JSON(updatedOffer)
}
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Real-time Status Updates

Frontend receives real-time updates through polling with optimized response caching:

func (h *OfferHandler) GetOffer(c *fiber.Ctx) error {
    offerID := c.Params("id")

    // Check cache first
    if cached := h.cache.Get(offerID); cached != nil {
        return c.JSON(cached)
    }

    offer, err := h.service.GetOffer(offerID)
    if err != nil {
        return c.Status(404).JSON(fiber.Map{"error": "offer not found"})
    }

    // Update real-time data
    offer.TempWalletBalance = h.walletService.GetBalance(offer.PaymentDstTemp)
    offer.UpdatedAt = time.Now()

    // Cache for 5 seconds to reduce load
    h.cache.Set(offerID, offer, 5*time.Second)

    return c.JSON(offer)
}
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Performance and Scalability

Concurrent Processing

The system handles multiple transactions concurrently using goroutines:

func (s *ProcessingService) ProcessOffers() {
    semaphore := make(chan struct{}, 10) // Limit to 10 concurrent

    for offer := range s.offerQueue {
        semaphore <- struct{}{} // Acquire

        go func(o *Offer) {
            defer func() { <-semaphore }() // Release

            err := s.processOffer(o)
            if err != nil {
                s.logger.Error("Processing failed", "offer_id", o.ID, "error", err)
                s.retryQueue <- o // Add to retry queue
            }
        }(offer)
    }
}
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Database Optimization

We use optimized queries and indexing for high-performance access:

-- Optimized indexes for common queries
CREATE INDEX idx_offers_status ON offers(status);
CREATE INDEX idx_offers_expires_at ON offers(expires_at) WHERE status IN ('payment_set', 'paid');
CREATE INDEX idx_offers_updated_at ON offers(updated_at);

-- Compound index for monitoring queries
CREATE INDEX idx_offers_status_updated ON offers(status, updated_at);
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Security Considerations

Input Validation

All inputs are strictly validated:

func ValidateGiftURL(url string) error {
    if !strings.HasPrefix(url, "https://t.me/nft/") {
        return errors.New("invalid gift URL format")
    }

    if len(url) > 100 {
        return errors.New("gift URL too long")
    }

    // Additional validation logic...
    return nil
}

func ValidateTONAddress(address string) error {
    if len(address) != 48 {
        return errors.New("invalid TON address length")
    }

    if !isValidBase64URL(address) {
        return errors.New("invalid TON address format")
    }

    return nil
}
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Rate Limiting

API endpoints are protected with rate limiting:

func RateLimitMiddleware() fiber.Handler {
    limiter := limiter.New(limiter.Config{
        Max:               10,
        Expiration:        time.Minute,
        LimiterMiddleware: limiter.SlidingWindow{},
    })

    return limiter
}
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Results and Impact

Performance Metrics

Our automated system delivers significant improvements:

  • Transaction Speed: 95% faster than human guarantors
  • Availability: 99.9% uptime (24/7 operation)
  • Error Rate: 0.01% vs 2-3% with human guarantors
  • Cost Reduction: 90% lower fees (0.5% vs 5%)
  • Scalability: Handle 1000+ concurrent transactions

Technical Benefits

From an engineering perspective:

// Before: Manual guarantor system
const processingTime = {
  validation: '5-30 minutes',
  availability: '8-12 hours/day',
  errorRate: '2-3%',
  scalability: 'Limited by human capacity'
}

// After: Automated guarantor system  
const processingTime = {
  validation: '5-30 seconds',
  availability: '24/7',
  errorRate: '0.01%',
  scalability: 'Horizontally scalable'
}
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Lessons Learned

1. State Machine Design is Critical

Having a well-defined state machine prevented many edge cases and made the system predictable.

2. Timeout Handling is Essential

Automatic timeouts with cleanup prevented stuck transactions and resource leaks.

3. Idempotency Enables Reliability

Making all operations idempotent allowed for safe retries and better error handling.

4. Real-time Monitoring is Key

Continuous monitoring of blockchain state and wallet balances enabled instant response to events.

5. Graceful Degradation

The system gracefully handles failures with automatic refunds rather than leaving users stuck.

Open Problems and Future Work

Multi-blockchain Support

Currently TON-only, but architecture designed for easy extension to other blockchains:

type BlockchainClient interface {
    GetBalance(address string) (float64, error)
    SendTransaction(tx *Transaction) (string, error)
    MonitorAddress(address string, callback func(float64))
}

// Implementations for different chains
type TONClient struct { /* ... */ }
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Advanced Gift Verification

Implementing more sophisticated gift authenticity checks using cryptographic proofs.

MEV Protection

Protecting against MEV attacks in the automated transaction processing.

Conclusion

Building an automated guarantor system required solving several complex distributed systems problems:

  • Consensus without coordination between untrusting parties
  • Atomic transactions across multiple systems (Telegram + TON blockchain)
  • Timeout-based safety with automatic cleanup
  • Real-time state synchronization across multiple clients

The result is a system that's faster, cheaper, more reliable, and more scalable than traditional human-based guarantor systems.

The full technical implementation demonstrates that automation can successfully replace human intermediaries in complex P2P trading scenarios, opening up possibilities for similar applications in other domains.


Interested in the technical details? The Gift Swap platform is live at gift-swap.online. The automated guarantor system processes transactions 24/7 with 0.01% error rate and 90% cost savings.

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