Deflate

Deflate is a native iOS/Android app that allows everybody to fight back USD inflation by leveraging DeFi protocols like AAVE on Base in a seamless way.

Users can create an account with their email or phone number, onramp/offramp via Privy Funding/Bridge.xyz and select a risk profile between "Safe" (investing only in low risk protocols like AAVE USDC on Base) or "Advanced" (determined by some answers that the users gives).

Users are also prompted to choose a username when registering for the first time: Deflate will mint an onchain subdomain in the form of "username.deflateapp.eth" to the user's embedded wallet, and this subdomain can be shared to other users (via the "Invite friends" feature or via word of mouth) to earn referrals and obtain up to $25 dollars. This referral system is built using Sign Protocol attestations: each time a user is referred by another one, a new attestation gets created onchain on Base Mainnet.

When the user deposits USDC on his Biconomy Smart Wallet, he also creates a Session Key for the Deflate AI Agent, that will take care of choosing the best protocols - basing his decisions on the user risk profile. The agent - autonomously and in a safe way (thanks to Session Key permissions) - will deposit the user funds on the chosen protocols.

Users can view in real-time how their portfolio is doing thanks to the 1inch Portfolio API, that allowed us to show a pretty UI with a chart for time-related data (last day, week, month and year). This is useful for users to keep track of their fight against inflation!

Users later can withdraw their positions and off-ramp directly to their bank account via Bridge.xyz. When a user requests a withdraw, the agent autonomously retrieves all the user positions and transfers the USDC back to the user address so that he can perform the transfer to his Bridge liquidation address, resulting in a transfer to his bank account. In order to withdraw, users need to perform KYC on Bridge and they can do so directly in the Deflate app - that doesn't store any user sensitive data on a centralized server.

These are all the technologies and partners used in the Deflate App:

• Expo and Privy for the native app, login and user data management via Privy Custom Metadata;
• ENS for subdomain (username) onchain minting via a L2Registry and L2Registrar deployed on Base;
• Biconomy for the Smart Account and Smart Sessions;
• Sign Protocol for referrals onchain attestations on Base Mainnet;
• Base for the main chain where the user performs the on-ramp and where the Smart Accounts are created, Polygon as a secondary chain where the AI agent can fetch other DeFi opportunities;
• 1inch Portfolio API for retrieving the user portfolio for building the UI and for rebalancing purposes;
• We built a seamless UX for users (even non-native ones) centered around Circle's USDC to provide a way for everyone to fight inflation using DeFi.