Build the next generation of Defi accessibility with Celo mobile-first blockchain! Create new solutions on top of the Celo Ledger - DeFi, NFTs, Smart Contracts, Developer tooling and more.
Decentralized lending is still largely user-blind. There is no way for users to build a reputation that would grant them access to better borrowing terms (i.e. friendlier interest rates and collateral requirements). Our project aims to eliminate this friction by tackling the problem in three parts. First, we developed the Karma protocol, an API for bootstrapping reputation systems. This allows dApps to quickly track their users borrowing behavior across the entire ecosystem. After developing Karma, we started working on Principal, a lending market that implements the Karma protocol to enable users to lend and borrow tokens in the Celo ecosystem. Users may borrow any digital asset by offering Principal tokens as collateral. Interest rates and collateral requirements are a function of supply, demand, and a user's karma. Lastly, we aim to make Principal mobile-first to allow any smartphone to smoothly leverage Principal to exchange value and access the decentralized lending markets.
Decentralized lending is still largely user-blind. There is no way for users to build a reputation that would grant them access to better borrowing terms (i.e. friendlier interest rates and collateral requirements). Our project aims to eliminate this friction by tackling the problem in three parts. First, we developed the Karma protocol, an API for bootstrapping reputation systems. This allows dApps to quickly track their users borrowing behavior across the entire ecosystem. After developing Karma, we started working on Principal, a lending market that implements the Karma protocol to enable users to lend and borrow tokens in the Celo ecosystem. Users may borrow any digital asset by offering Principal tokens as collateral. Interest rates and collateral requirements are a function of supply, demand, and a user's karma. Lastly, we aim to make Principal mobile-first to allow any smartphone to smoothly leverage Principal to exchange value and access the decentralized lending markets.