fluid.loan
Use your ETH to pay for expenses without losing out on the upside - zero clicks & self-custodial
Project Description
fluid.loan allows you to send ETH and automatically receive USDC borrowed against it to pay for short-term expenses.
The address you are sending to is a self-custodial Safe smart account of which you have full control 🔒
Once you're ready, just send USDC back to the same address and your loan automatically gets repaid.
By using fluid.loan you keep the upside if ETH goes up and can optimize taxable events.
How it's Made
We are using Aave smart contracts to borrow USDC against ETH on Arbitrum.
The Safe smart account holding the assets uses a module giving us the scoped ability to borrow USDC against any ETH deposited to the smart account. fluid.loan can only borrow up to 50% of the ETH value in USDC to avoid any short-term liquidation risks. Additionally, the borrowed funds can only be sent to an address specified by the owner of the Safe.
We are using Alchemy webhooks to listen for incoming transfers of ETH & USDC and trigger borrowing & repayment flows using AWS lambdas running the Safe Protocol Kit and viem.
