Mirai Protocol
First of its kind, truly cross-chain lending protocol with optimized interest rate model.
Mirai Protocol
Created At
Winner of
💸 Polygon — Best Defi Project
🏊 Push Protocol — Prize Pool
🏊 The Graph — Pool Prize
🥇 Connext — Best Use
Project Description
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In the world of DeFi and multiple L1s, liquidity gets fragmented. Fragmented liquidity poses a problem for capital efficiency and adoption.
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Mirai protocol allows users to interact with the lending protocol from different L1. This means that the core protocol is deployed on one L1 - efficient at processing related transactions. However, users on any other L1s can interact with the protocol.
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It solves the problem of DeFi composability of cross-chain applications. Mirai protocol can set the standard for how cross-chain protocols should be built and integrated to build different DeFi legos.
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Current POC allows users on Goerli chain to readily interact with lending protocol on Polygon-Mumbai. Goerli users can deposit, borrow assets, repay their loans and withdraw their assets using the one-click, UX-friendly cross setup Mirai has.
How it's Made
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Finding the suitable protocol which allows us to craft generalized architecture for cross-chain communication.
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Accounting logic to make sure that we are able to keep track of protocol and individual balances.
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Cross-chain transactions take some time to propagate. We have integrated the Push protocol for notifying the users after their cross-chain transaction has been successfully processed. Integration in a short time frame was a bit of a challenge.
