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Lending protocols - Money Legos bounty

Organization

tezos-contrib

Deadline

almost 2 years ago

Status

ENDED
37400 USD

INSTRUCTIONS

Inspiration

In life, there comes a time when we have to borrow money e.g. student loan, car loan, mortgage etc. Lending is an essential service in any financial system. Traditional lenders such as banks, provide loans in exchange for a fee in the form of interest rates. Similar situations can also be found on the blockchain as well. A borrower needs a sum of money immediately available for an operation, and a lender may agree to provide such a loan in exchange for a fee.

Challenge Description

DeFi lending protocols are trustless platforms fueled by smart contracts. They allow users to become lenders or borrowers in a completely decentralized and permissionless way whilst maintaining full custody over their cryptocurrency tokens. Users, who want to become lenders, supply their tokens to a particular money market and start receiving interest on their tokens according to the current supply APY (Annual Percentage Yield). Borrowers can also borrow assets with collateral without intermediaries. In this bounty, we are seeking for DeFi lending protocols solutions that will help connect over the blockchain users who are looking for yields to their investments, and those users looking for short or long-term financing.

Hints

We recommend making use of the existing project in the Checker codebase. References or inspirational links

  • https://opentezos.com/defi/lending/
  • https://app.youves.com/uusd/tez/minting/start
  • https://kolibri.finance/
  • https://yupana.finance/

Requirements:

For example:

  • Submissions must be open source (MIT license)
  • Submissions must have a working prototype deployed live on the current testnet
  • Submissions must have a writeup on what the product backlog for reaching 'completion' looks like
  • Submissions must list the addresses of their token contracts

Or:

A detailed whitepaper of at least 5 pages with reasonable font size and margins, written to the standards of a scientific publication (including citations for all non-original material), detailing:

  • Tokenomics
  • Voting models
  • The consequences of such
  • Potential challenges and risks
  • A slide deck, and an approximately 5 to 10 minute video, explaining the main concepts in the whitepaper.

Prize

$13000 in tez for the best submission $5000 in tez for the the second best submission $2000 in tez for the third best submission

We reserve the right to not pay out prizes if none of the applicable submissions meet the minimum criteria.