project screenshot 1
project screenshot 2
project screenshot 3

FLOAN - Cross-chain Debt Teleporter

1-click to beam the user's debt position to their desired chain.

FLOAN - Cross-chain Debt Teleporter

Created At


Winner of


🏆 ETHAmsterdam Finalist


🥈 Connext — Best xApp


💎 AAVE Grants DAO — Best Use

Project Description

FLOAN helps Mainnet users who want to migrate their debt positions (collateral + debt) to enjoy cheaper borrowing rates in a faster chain. Nowadays, more users are wanting to avoid operating in Mainnet due to the high gas fees, so we enable the user to bypass the cumbersome process by offering a 1-click beam of their debt position to the desired chain.

How it's Made

Intention: user wants to move position from chain A protocol X, to chain B protocol Y


  • One Teleporter contract on each chain. It holds liquidity to pay users debt.

  • Connext is used to bridge the assets (as a signed xcall)

  • For demo purpose, we are only using 2 chains and one protocol on each chain (Aave on Rinkeby and Compound on Kovan)


  • Teleporter pays back user loan

  • Teleporter withdraws user collateral

  • User collateral is bridged to the new chain

  • Collateral is deposited on the new platform

  • With the collateral, we borrow

  • Use the borrowed assets to provide liquidity back to the pool

background image mobile

Join the mailing list

Get the latest news and updates