EaseNow⚡
Experience seamless on-chain shopping with pay later convenience, secured by verified credit scores and real-world identity verification ensuring hassle-free transactions without the need for upfront
About
The problem it solves ### The Problem It Solves EaseNow addresses several key challenges faced by users wanting to make on-chain purchases but hindered by the complexities and limitations of current systems: 1. **Lack of Immediate Funds:** Users often need to buy extra tokens from centralized exchanges if they lack enough funds for a purchase. 2. **Cold Wallet Transfers:** Many users keep their tokens in cold wallets, requiring inconvenient transfers to hot wallets for transactions. 3. **Insufficient Funds for Transaction Fees:** Even with exact tokens for a purchase, users might not have enough left for transaction fees. 4. **Delayed Salaries:** Users may need to make a purchase but lack on-chain funds, especially when awaiting salary credits. 5. **Centralized Exchange Dependence:** Users accustomed to centralized exchanges may find on-chain shopping cumbersome and unfamiliar ### How EaseNow Makes It Easier **EaseNow** is designed to provide a smooth and hassle-free on-chain shopping experience by addressing the above problems: - **Pay Later Flexibility:** Users can purchase items without immediate on-chain funds or transaction fees. EaseNow allows deferred payments, eliminating the need for immediate token availability. - **Non-Locking Collateral:** EaseNow uses Real World Assets (RWA) as collateral in a non-locking manner, simplifying the onboarding process without locking users' on-chain assets. - **Credit Score Integration:** Utilizing a Trusted Execution Environment (TEE), EaseNow assesses user credit scores from various third-party sources. Based on this score, users are granted appropriate credit on-chain. - **Identity Verification:** To participate, users must verify their identity through personal documents and facial verification, sent securely to the TEE. This information is encrypted and stored on IPFS, ensuring confidentiality. - **Lender Security:** While not collateralizing on-chain assets, EaseNow ensures lender security through DeFi mechanisms that support the pay
How it's made
Challenges we ran into Building the TEE in Golang was a challenging task. Fortunately, a library called Ego simplified the process. Additionally, since it was my first time using Golang to interact with EVM chains, there was a learning curve involved. I had to create a pipeline from Hardhat to Golang to utilize the latest ABI and scaffold code for easy on-chain execution and queries. Integrating Coinbase Smart Wallet and implementing ERC-1271 proved to be particularly tricky.