Litmosis
Enabling Financial Institutions to monetize their Fiat or Crypto treasury by launching their own white-labeled stablecoins, pegged to any local currencies using Proof of Reserves/Multi-sig.
About
Currently, there is more than $200T locked in Traditional Finance Institutions, bringing them on-chain not only helps them grow their business but also increases the adoption of DeFi. Currently, these Financial Institutions: 1) Need to figure out the Tech of launching their own stablecoins 2) Launching Multi-chain and bootstrapping liquidity for each chain is difficult 3) Building Proof of Reserves, Audits and Ecosystems take time, effort, and resources. Use cases for Financial Institutions: - Buy now pay later - Microcredit and lending to SMEs - Credit marketplace - Personal retail investing - Foreign exchange markets
How it's made
We ran challenges in: 1) Figuring out the seamless minting & burning of ERC20 tokens 2) Figuring out cross-chain smart contract calls