Undercollatoral Loan "Ecosystem" on a time-restricted basis.


- The project aims to be the center of an ecosystem, build around its special behavior UNERC20 tokens given out for a penny of the actual collateral underneath. - The project has a factory, to which people can come and deposit liquidity. - The liquidity is sent to a proxy implementation ( can be created in a decentralized manner if not present ). - The implementation sends the money to protocols like Aave/Compound/Yearn etc for interest. The interest/profits made are distributed among the liquidity providers. - Anyone can come and put in a small amount of interest + security fees and get huge loans. The interest + security << amount withdrawn. - The borrower's amount is limited by the underlying collateral, and since the tokens are given out on a time basis, the net liquidity in the market is never actually increased. - If the borrower doesn't pay their loan back on time, the supply is automatically adjusted, and anyone can come to call the liquidity function and get the security reserve the person deposited.

Lenders.finance showcase

How it's made

The smart contract is built with solidity - EIP1967 is used for creating Wrapped Tokens implementations. - The interest model works by making changes to the ellipse equ. - The price feeds, interest and security are calculated using Chainlink (the current live version only has some code for it, need more time to add these features. ) There are four places: 1. Factory contract: master of all other contracts. Deals with add/remove liquidity, issue/payback loan across of contracts, etc. 2. UNERC20: contains info regarding users and their UN(token) minted/burned, their time factor, liquidation, etc. 3. DataProvder.sol: goto contract for any info regarding different Tokens, protocol, positions, price feeds, etc. 4. Interest. sol: for calculating interest/ security deposits. The project uses truffle for now, which I aim to migrate to hardhat soon. The UI is made using: React, Redux, Webpack, Create-eth-app (ejected) , HTML, CSS, Material-ui React, Web3.js . The UI would eventually see GraphQl queries i.e. The Graph for fetching and displaying data.

Technologies used

AaveChainlinkCompoundEthereumHarmonyInfuraMetaMaskPolygonRemixSolidityThe GraphTruffleYearn