GhoStream
A platform where users supply collateral to borrow GHO in a stream, aligning with income flow for new payment use cases. This method gradually mints GHO, reducing risk, and unlocks innovative streaming payment possibilities within a secure framework.
Project Description
GhoStream is a DeFi platform that enables users to deposit collateral and mint the GHO stablecoin as a continuous stream, aligning with real-world income patterns. This system innovates in the realm of DeFi by offering a novel way to manage liquidation and interest compounding risks. Through streaming GHO minting, it minimizes the risk of sudden liquidation events and eases the impact of compounded interest.
GhoStream's architecture allows for borrowing against projected income streams, providing a flexible financial tool for users to leverage future earnings today. This functionality opens up new use cases in stream-based payments, catering to an evolving market where financial transactions are increasingly dynamic.
GhoStream is not just a lending platform; it is an infrastructure for the future of financial streaming, leveraging the stability and reliability of GHO stablecoin.
How it's Made
Smart Contracts:
At the core of the protocol is a Pool contract very similar to Aave's, where users can deposit, withdraw various assets and borrow GHO. Each token that can be deposited has a corresponding aToken that matches the collateral amount. For simplicity reasons, GHO is directly minted in the Pool that is a facilitator itself, and the GhoDebtToken is responsible for tracking the current borrowed amount.
Once enough collateral is deposited, users can borrow (i.e. mint) GHO that initiates a payment stream to a desired recipient, with a fixed end date and a total amount that should be within the LTV ratio. Under the hood we use Linear Lockup contract from Sablier token streaming protocol that handles all the streaming mechanics and GHO treasury fees. Once the stream is initiated, recipient's balance and borrower's debt is updated in real-time.
Front-end:
At the web2 side of the dApp is React.js & Vite. Regarding the access portal to the web3 world, we used Family's ConnectKit. Thanks to the characteristics of the latter, we were able to integrate wallet authentication from a logical point of view, but equally important, also from a graphic point of view. In fact, thanks to ConnectKit's theming functionality, we were able to seamlessly integrate the graphics of the wallet with the graphics of our dApp.
Furthermore, through ethers.js we managed the read and write interactions towards the smart contract.
