Layer0racle

This project enhances DeFi by integrating oracles into unsupported blockchain networks. Using Flare's reliable price feeds and bridging them via the LayerZero protocol to a Layer 2 (L2) solution, we enable a borrow-lending decentralized exchange (DEX). The L2 setup ensures scalability, low transaction costs, and secure data transfer. Our smart contracts handle collateral management, borrowing, lending, and liquidation, providing a robust and efficient DeFi platform. This approach makes DeFi more accessible and functional for a wider range of blockchain networks.

Technologies Used: Flare Network: We leveraged Flare's price feeds as our primary oracle source, ensuring reliable and accurate data. We also developed an adapter to convert the price and timestamp values into 18-decimal uint256 using the value and decimal places returned from the price feeds. This allows us to integrate this project with more existing projects without needing to refactor the primary code. LayerZero Protocol: This cross-chain communication protocol enabled us to bridge the data securely and efficiently from Flare to our target Layer 2 (L2) solution. In the future, we can expand this to any layer that LayerZero supports. Dynamic: Used the dynamic hackathon starter kit to create the frontend and craft magical onchain sign up experiences. Solidity: Smart contracts were written in Solidity to handle the logic of the borrow-lending DEX, ensuring transparency and trust.