Enable
Enable is a “Kiva for Dai” that allows lenders to make peer-to-peer stablecoin microloans to emerging market borrowers. Our first product is a peer-to-peer crowdloan kit.
We are an open source volunteer project that grew out of the open finance hackathon in May 2019. We are currently funded by a 3-month grant from Binance Labs.
This repo is mainly for project management and product-related discussions. See our workstreams for development work.
Mailing List: https://www.enable.credit
Team
- Thomas Spofford, @tspoff (USA)
- Anthony Adegbemi, @adibas03 (Nigeria)
- Faisal Amir, @urmauur (Indonesia)
- Daniel Onggunhao, @onggunhao (Singapore)
Workstreams
In line with the open source ethos of decentralized finance, we are committed to building in public. See the contributor instructions in the individual repos.
| Workstream | Github | Contributor Instructions |
|---|---|---|
| Enable Crowdloan Contracts | repo | instructions |
| Enable Crowdloan UI | repo | instructions |
| Proof-of-concept fundraise | Ines Fund |
Roadmap
Phase 1 (June - Aug 2019)
- Single-loan peer-to-peer crowdloan kit
- Proof-of-concept fundraise: raising 60,000 Dai for Ines (Indonesia) to attend Cornell University
Phase 2
- Open to ideas - debt tokens, collateralized loans, interest rate auctions, social credit
About Enable
Value add
Enable makes use of smart contracts and stablecoins to automate the operations required to do a cross-border peer-to-peer loan.
| Status Quo | Enable Loan Contracts | |
|---|---|---|
| Cross-border Costs | Incurs forex, transfer and bank fees as it goes through the cross-border banking system | $0, uses stablecoins |
| Accounting Effort | Team of diligent accountants required to manage fractional loan ownership and allocation of repayments streams | 0 headcount, automated through smart contracts |
| Transparency | Loan repayment data is usually opaque or subject to time delays | Fully transparent ledger |
| Composability | Investment bankers, auditors, legal contracts required to package it into derivatives (e.g. bonds, CLOs) | Fully programmable smart contract |
Future Directions
- Debt Tokens
- Marketplace
- Collateralized loans: identity-collateralized loans
- Sophisticated loan types: PMT
- Sophisticated payment tracking
- interest rate auctions
- Derivative products (e.g. collateralized loan obligations) to try to create investment-grade products