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Ghost NFT Protocol

Facilitator that accepts NFTs as collateral for minting GHO tokens.

Ghost NFT Protocol

Created At

LFGHO

Winner of

Family - Pool Prize

Prize Pool

Project Description

Ghost NFT Protocol works as a new type of Facilitator for the AAVE and GHO Ecosystems, which implements an NFT vault which can accept whitelisted NFT Collections as collateral for borrowing/minting GHO Tokens.

Key Features:

  1. Wallet Integration & Ethereum Connectivity: Using ConnectKit for seamless wallet connections and getting default configurations, enabling smooth interactions with the Ethereum blockchain.

  2. NFT Display: NFTs owned by users and the ones supplied are displayed via Alchemy's NFT API, providing a clear view of the user's NFT holdings.

  3. Supply and Withdraw Options: Users can supply whitelisted NFTs as collateral and withdraw them when needed, offering flexibility in managing their digital assets.

  4. Dynamic Borrow Power Calculation: Borrowing power is calculated in real-time based on NFT market values, using Chainlink's NFT Price Feed for accurate assessments.

  5. Borrowing and Repayment of GHO Tokens: Users can borrow GHO tokens up to their calculated borrow power and have straightforward options for repayment.

How it's Made

The Ghost NFT Protocol integrates several key technologies:

  1. Frontend and Backend: Built using Next.js with TypeScript, offering a robust and scalable framework for the user interface and server-side operations.

  2. Wallet Integration: Utilizes ConnectKit for seamless Ethereum wallet connections, enhancing user accessibility and interaction with the blockchain.

  3. Blockchain Interaction: Employs wagmi.sh for React hooks and ethers.js for smart contract interactions, ensuring efficient blockchain communication.

  4. NFT Data Retrieval: Alchemy's NFT API is used to fetch user-owned NFTs and those deposited in the Facilitator Contract, providing real-time data.

  5. Chainlink NFT Price Feed: Integrates Chainlink's NFT Price Feeds for real-time price information, ensuring accurate calculation of borrow power based on the current market value of NFTs.

  6. Smart Contracts: Features a GHO Token Contract and a custom Facilitator Contract which also acts as an NFT Vault, deployed on the Goerli testnet, enabling NFT deposits and GHO token borrowing.

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