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teller-protocol / teller-protocol-v1

Teller is a lending and undercollateralized borrowing protocol on the Ethereum blockchain. Teller is the first protocol to allow zero collateral borrowing for greater than one block.
https://teller.finance/
MIT License
104 stars 38 forks source link

Gitcoin Grants Round 10 - Aave Dapp #386

Open sypeer opened 3 years ago

sypeer commented 3 years ago

Quick recap

Teller is the first DeFi protocol built to evaluate consumer credit risk, and offers cryptocurrency loans that do not require a collateral amount to exceed principal loan value. This is achieved by assessing a user’s credit risk through personal consumer financial data. Consumer data is privately provided to Teller’s Credit Risk Algorithms (CRAs).

Overview

As part of efforts in expanding utilization to users and the Teller mission, we are looking to build on top of our CRAs. Our goal is to inspire developers to build on top of our open credit risk system, initially with dapps, and then so much more!

Bounty

Upto $2500 worth of ETH will be awarded to the winner entry

Challenge Description

Build a Dapp that allows users with undercollateralized loans through the Teller protocol to interact with Aave with four functions:

Submission Requirements

Judging Criteria

All submissions will be evaluated by the Teller Finance team, based on the following criteria:

Connect with us!

Meet us over on our discord with any questions, ideas, or just general chit chat!

gitcoinbot commented 3 years ago

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

This issue now has a funding of 0.9895 ETH (2500.07 USD @ $2526.6/ETH) attached to it as part of the teller-protocol fund.

gitcoinbot commented 3 years ago

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

Work has been started.

These users each claimed they can complete the work by 2 weeks, 3 days from now. Please review their action plans below:

1) sheffachrist has started work.

Touching more persons with referal us thé n'est plan 2) developer-piyush has started work.

=> A project that uses a factory contract to spawn new loan pools.

=> It combines a browser-based frontend with the ethereum smart contract using web3.js.

*Anyone can create the pool using the form on the application.

*During the creation of the pool, the pool creator needs to fill in the necessary details and, need to choose the lending pool between Aave & Mstable.

*Based on the choice, a new smart contract will get generated using the factory contract. The details of the pool will get stored on the graph using the-graph SDK.

*The participants will be able to join any pool available to participate from the frontend. They need to deposit the collateral amount and, the collateral will generate a yield from the lending platforms (Aave or Mstable).

*The loan auction will start once at least 2 participants will join the pool.

*During the auction, the participant can bid the amount to win the loan if they want.

*The number of the auction will depend upon the total number of participants in the pool.

*The highest bidder will be able to claim the loan, once the auction period will be over.

*The loan amount will be equal to the loan amount - bid amount (the loan amount is also equal to the collateral deposited at the beginning).

*The bid amount will remain stored on the lending pool and it will get distributed among all the participants with yield generated from lending pools after all auctions.

The advantage of this approach is that the last participant gets the loan interest free and on top of that earns interest on the collateral. The interest paid by other borrowers is used to earn an additional interest which is also distributed among all the participants.

Learn more on the Gitcoin Issue Details page.

gitcoinbot commented 3 years ago

Issue Status: 1. Open 2. Started 3. Submitted 4. Done

Work for 0.9895 ETH (2241.24 USD @ $2263.88/ETH) has been submitted by: