We allow Uniswap V3 Liquidity provider to Borrow USDC against their positions.
Merkle allows UniswapV3 LP holders to borrow USDC against their positions. It is built in a way that anyone can write an "AssetClass" contract that when approved, can be used as collateral in Merkle.
This platform is different than Compound, Aave & others because it allows borrowers to deposit complex assets (and not just tokens).
The first use case of this lending platform is UniswapV3. UniswapV3 LP positions are represented as NFTs, and cannot be deposited in any lending protocol today, however, they hold more than $5B in value. Merkle will allow UniswapV3 liquidity provider to leverage their positions by borrowing against them.
As the DeFi ecosystem evolves and assets become more complex, a lending platform that can accommodate them is needed.
I used hardhat to build my contracts, wagmi to build the UI (with react).
I built 3 contracts in total: