EzyLoan

Wallet Creation and Management

• Users can create and manage blockchain wallets directly through the platform.
• Wallets support multiple tokens, including ETH, USDC, and DAI.
• Wallet details, balances, and borrowed loans are displayed in a simple dashboard.

Loan Application for Borrowers

• Borrowers can apply for loans using either crypto assets or tokenized real-world assets as collateral.
• Crypto Assets: Borrowers can pledge cryptocurrencies such as ETH or USDT as collateral.
• Real-World Assets: Borrowers pledge real world assets as colletary and system tokenize it to NFT in order to represent in digital realm.
• We combine the behavioral, personal and cryptocurrency data along with the collateral to dynamically calculate maximum available loan for each borrower using Artifical Intelligence.
• Our AI model has 98% accuracy.
• Loans are tied to specific collateral, with smart contracts managing the collateral and loan terms.

Lending Requests for Lenders

• Lenders can create lending requests specifying the token they wish to lend, interest rates, and loan terms.
• Borrowers are matched with lenders based on token compatibility and available loan amounts.
• Lenders can accept repayment in different tokens through the platform's exchange mechanism.

Loan Repayment for Borrowers

• Borrowers can repay loans partially or fully.
• Repayments can be made in tokens other than the loan token, with exchange rates calculated automatically.
• Smart contracts update loan statuses, reduce the loan amount, and release collateral upon full repayment.

Smart Contract Integration

• Loans, collateral management, and repayments are handled via secure smart contracts.
• Smart contracts ensure transparency and automate processes like repayment validation and collateral release.

This project focuses on creating a decentralized peer to peer lending and borrowing platform with a clear emphasis on flexibility, transparency, and ease of use. Here's how the platform was built, reflecting only the components and technologies we actually implemented together:

Technologies Used Frontend

• Svelte: Used for building a responsive and interactive user interface, including wallet management, loan application forms, and repayment workflows.
• Custom Styling: Developed a clean and functional interface with lightweight custom CSS for a seamless user experience.

Backend

• FastAPI: Served as the core backend framework for handling API requests, managing loan and repayment operations, and performing token-related logic.
• JSON Files: Used as a lightweight, temporary data storage solution to prototype and test features like loan approvals and repayments.

Blockchain Integrations

• cdp-sdk: The central library used for interacting with blockchain functionalities, including: Wallet creation and management.
  • Token deployment and swapping.
  • Fund transfers between wallets.
  • ERC-20 Smart Contracts: Used to handle token-based transactions and ensure transparency for loan agreements and repayments.

Exchange Rates

• Custom API Implementation: Built an exchange rate API that calculates the value of tokens using USD as a bridge, supporting flexible repayments in multiple tokens by leveraging chainlink data feed.

Custom AI Model

• Random Forest Algorithm: Used to predict the maximum available loan for borrowers based on their collateral and personal, behavioral, and cryptocurrency data.

How Components Are Connected Wallet Management

• Wallets are created using cdp-sdk and can also display balance information for tokens like ETH, USDC, and DAI.
• Wallet data is dynamically fetched and displayed in a user-friendly dashboard.

Loan Application and Approval

• Borrowers apply for loans by specifying the token type, collateral type, and amount.
• Collateral and loan values are calculated based on custom exchange rate logic.
• Lenders' offers are matched to borrowers based on token type and valuation using a custom algorithm.

Loan Repayment

• Borrowers can repay loans flexibly in any supported token.
• If the repayment token differs from the loan token, a swap is performed using cdp-sdk.
• The smart contract is updated with repayment details, and the funds are transferred to the lender’s wallet.

Smart Contracts

• Smart contracts (ERC-20) are deployed dynamically to manage loan terms.
• Contracts track balances and ensure repayment updates are recorded on-chain for transparency.

Notable Hacks & Customizations Dynamic Loan Matching

• Implemented a custom algorithm to prioritize matching based on the same token type, with fallback logic for cross-token conversions.
• Flexible Repayment Options Designed a repayment system that allows borrowers to pay in any supported token, using real-time exchange rates to calculate equivalent repayment amounts.
• Prototyping with JSON Prototyped key functionalities, like loan applications and repayments, using JSON files before scaling up with more complex integrations.
• Direct Blockchain Interactions Used cdp-sdk for essential blockchain operations, such as deploying tokens, executing trades, and transferring funds, without relying on third-party wallet providers or protocols.