EzyLoan

Demo

About

Wallet Creation and Management - Users can create and manage blockchain wallets directly through the platform. - Wallets support multiple tokens, including ETH, USDC, and DAI. - Wallet details, balances, and borrowed loans are displayed in a simple dashboard. Loan Application for Borrowers - Borrowers can apply for loans using either crypto assets or tokenized real-world assets as collateral. - Crypto Assets: Borrowers can pledge cryptocurrencies such as ETH or USDT as collateral. - Real-World Assets: Borrowers pledge real world assets as colletary and system tokenize it to NFT in order to represent in digital realm. - We combine the behavioral, personal and cryptocurrency data along with the collateral to dynamically calculate maximum available loan for each borrower using Artifical Intelligence. - Our AI model has 98% accuracy. - Loans are tied to specific collateral, with smart contracts managing the collateral and loan terms. Lending Requests for Lenders - Lenders can create lending requests specifying the token they wish to lend, interest rates, and loan terms. - Borrowers are matched with lenders based on token compatibility and available loan amounts. - Lenders can accept repayment in different tokens through the platform's exchange mechanism. Loan Repayment for Borrowers - Borrowers can repay loans partially or fully. - Repayments can be made in tokens other than the loan token, with exchange rates calculated automatically. - Smart contracts update loan statuses, reduce the loan amount, and release collateral upon full repayment. Smart Contract Integration - Loans, collateral management, and repayments are handled via secure smart contracts. - Smart contracts ensure transparency and automate processes like repayment validation and collateral release.

How it's made

This project focuses on creating a decentralized peer to peer lending and borrowing platform with a clear emphasis on flexibility, transparency, and ease of use. Here's how the platform was built, reflecting only the components and technologies we actually implemented together: Technologies Used Frontend - Svelte: Used for building a responsive and interactive user interface, including wallet management, loan application forms, and repayment workflows. - Custom Styling: Developed a clean and functional interface with lightweight custom CSS for a seamless user experience. Backend - FastAPI: Served as the core backend framework for handling API requests, managing loan and repayment operations, and performing token-related logic. - JSON Files: Used as a lightweight, temporary data storage solution to prototype and test features like loan approvals and repayments. Blockchain Integrations - cdp-sdk: The central library used for interacting with blockchain functionalities, including: Wallet creation and management. - Token deployment and swapping. - Fund transfers between wallets. - ERC-20 Smart Contracts: Used to handle token-based transactions and ensure transparency for loan agreements and repayments. Exchange Rates - Custom API Implementation: Built an exchange rate API that calculates the value of tokens using USD as a bridge, supporting flexible repayments in multiple tokens by leveraging chainlink data feed. Custom AI Model - Random Forest Algorithm: Used to predict the maximum available loan for borrowers based on their collateral and personal, behavioral, and cryptocurrency data. How Components Are Connected Wallet Management - Wallets are created using cdp-sdk and can also display balance information for tokens like ETH, USDC, and DAI. - Wallet data is dynamically fetched and displayed in a user-friendly dashboard. Loan Application and Approval - Borrowers apply for loans by specifying the token type, collateral type, and amount. - Collateral and loan values are calculated based on custom exchange rate logic. - Lenders' offers are matched to borrowers based on token type and valuation using a custom algorithm. Loan Repayment - Borrowers can repay loans flexibly in any supported token. - If the repayment token differs from the loan token, a swap is performed using cdp-sdk. - The smart contract is updated with repayment details, and the funds are transferred to the lender’s wallet. Smart Contracts - Smart contracts (ERC-20) are deployed dynamically to manage loan terms. - Contracts track balances and ensure repayment updates are recorded on-chain for transparency. Notable Hacks & Customizations Dynamic Loan Matching - Implemented a custom algorithm to prioritize matching based on the same token type, with fallback logic for cross-token conversions. - Flexible Repayment Options Designed a repayment system that allows borrowers to pay in any supported token, using real-time exchange rates to calculate equivalent repayment amounts. - Prototyping with JSON Prototyped key functionalities, like loan applications and repayments, using JSON files before scaling up with more complex integrations. - Direct Blockchain Interactions Used cdp-sdk for essential blockchain operations, such as deploying tokens, executing trades, and transferring funds, without relying on third-party wallet providers or protocols.