A Cross Chain Liquidity Leasing Market for idle funds in Smart Accounts
Prize Pool
Prize Pool
A trustless and permissionless leasing system that enables users to put their idle tokens to productive use by leasing them out from their smart accounts to solvers who require liquidity for protocols like Uniswap, Cowswap, and 1inch Fusion. The system allows users to specify the maximum lease duration and expected APR while permitting solvers to select and lease these tokens just in time (JIT) against their stake. Solvers are required to stake to participate in the network, and the network incentives are designed to protect the interests of the Liquidity Providers and prevent a collusion in the network from stealing user funds.
The project is comprised of the following components:
An ERC7579 Executor Module deployed on each supported chain, installed by users into their 7579 Compatible smart account allowing them to customize the expected APR and lease duration for the tokens intended to be leased. The module is also responsible for managing active leases on their smart accounts. The module was built with Rhinestone's module-kit.
A Singleton Staking Contract deployed on the home chain of the protocol. The contract in addition to allowing Solvers to stake and uns-take, allows "Watchers" to alert the contract of leases that were not fulfilled by the leasers in time. The Staking contract verifies the authenticity of this claim by checking the state of the ERC7579 Module (if on the same chain) or by executing a cross-chain read call via LayerZero's _lzRead mechanism if on a different chain, slashing the leader if proven guilty as charged.
A matching engine powered by Phala Network's TEEs to verifiably find the best smart accounts to lease funds from, given a requirement and optimising for the least cost to the solver.
A set of client-facing dashboards to manage lease configuration and visualise the workings of the system for demonstration purposes.