A fully decentralized trading platform
A solution that allows users to lend or borrow money based on the stable coin and smart contracts that guarantee the fixed interest rate and conditions at the moment of contract creation. A safe low-cost mechanism for active traders to avoid monitoring constantly changing interest rates and cryptocurrency fluctuations.
The Brief
The Brief
Our client from the USA contacted S-PRO aiming to create a new platform and to integrate it with Maker DAO 3d-party-service, a well-known stable platform. The idea was in creating agreements between two parties based on the specific conditions and fixed interest rates. The main problem became the lack of documentation from the client`s side which took our team some time to investigate the system`s work and understand how everything is interconnected. 3d-party service was not completed by the time we started working on the project but together we managed to solve this and other technical challenges and delivered PoC and MVP of Web-application based on Blockchain
As a result, the delivered platform can:
As a result, the delivered platform can:
provide the ability to easily lend and borrow money on specified conditions
Create the forward rate agreement (FRA) based on the smart contract
Allow users to match based on specific conditions acceptable for both parties
Key features
Key features
a fully decentralized trading platform
lender`s and borrower`s match
the ability to lend or borrow coins via smart contract creation
fixed interest rate guaranteed by the system
Metamask or Coinbase crypto wallet log in
Services Provided
Services Provided
1. Blockchain
2. Frontend
3. Design
4. DevOps
5. Project Managment
6. QA
Results
Results
- 01
We developed a solution based on Ethereum, DAI, and initial system Maker DAO with quite vague client`s requirements. The platform allows users to lend or borrow capitals based on the stable coin DAI and smart contracts that guarantee the fixed interest rate and conditions at the moment of contract creation.
- 02
Each agreement required another smart contract which was quite expensive so we solved this problem by creating proxy logic - we deploy one contract and then create an empty smart contract for each user which is connected to the main one thus significantly reducing the cost of using the system.
- 03
The developed system eliminates the risk of interest rate changes and also Ethereum fluctuations that are present in competitors` offers. Basically, we created a safe low-cost mechanism for active traders to avoid monitoring of constantly changing interest rates.
The Lifecycle
The Lifecycle
Create FRA
Pending
CDP ownership transfered
Closed
Approve FRA
Create CDP
Add to Open Agreements
Track, monitor Contract
Make injections
Accept Agreement
Active
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