lensLend

The reputation of a creator is a valuable asset which creators can use to influence other, attract more users and getting more traffic. However, although reputation can be calculate through some self-defined function, there aren’t a way to use this asset.

Here is where our project enter, which is designed to enable creators to capitalize on their reputation by making it collaterizable, which is made possible by our reputation valuation system. From the creators' side, by creating an ERC-6551 token account and setting it as the destination of revenue streaming on Lens, a creator can further accumulate their reputation as long as they are holding their identity. With the token accounts owning the assets, it also becomes possible to become collateral.

When the creators want to leverage their reputation to borrow funds, we’ll calculate the value of their reputation, which is the total value inside the ERC-6551 account, to come up as the value of the collateral.

By doing so, the other key advantage of this protocol is that it reduces liquidation risk by eliminating the reliance on a single factor, such as the token price. This ensures that creators can access funding without the fear of being liquidated due to external market conditions, with better creations the creator made, the risk could be mitigated by the growth of the revenue they got. Incentivizing creators to produce better creations thereby improving the value of their reputation and increasing the collateral they can access. This creates a virtuous cycle in which creators are rewarded for their hard work and can continue to grow their reputations over time.

Reputation Accumulate account: This allows creators to create an ERC-6551 account which is used as the destination where their revenue is streamed on Lens. It enables the reputation to become collateralized. By using the account, the creator's revenue will be streamed inside the account where the creator’s reputation can be accumulated. When the token account becomes collateral, the value of the account will be calculated in order to calculate when to liquidate.

Reputation value calculation oracle: This oracle is made using Lens API to calculate the reputation value by accessing the revenue streaming data. This part is done by accessing data from Lens API and coin gecko for token price feed and is updated to contract on multiple chains to grant access to the data to the lending and liquidation contracts.

Reputation Lending: By getting the value of the reputation, this module can determine how much quota can be lent to the creator.