Spinoza is a data dao that combines on-chain lending and amm, to provide undercollateralised loans
#SPINOZA
Spinoza is a proposed Data Decentralized Autonomous Organization (DAO) that aims to incentivize reliable storage services by combining the concepts of on-chain lending and programmable data vaults. The DAO performs due diligence on storage providers and allows them to take out undercollateralized loans in exchange for staking Spin tokens. These tokens represent both storage capacity and interest, and a portion of the fees collected goes towards incentivizing the providers to not default on their loans. Data is tokenized and clients can deposit funds into the storage provider's pool, which automatically triggers the loan. The goal of Spinoza is to create a self-sustaining system that balances the interests of storage providers, investors, and clients.
The basic flow is as follows:
This projects uses the Fevm to power its undercollateralized and market making service, It is built with solidity. The lending protocol uses the miners raw power from the power actor for on-chain due-diligence about a storage provider before the storage provider is allowed to take a loan, and the get deal activation from the marker actor to verify if the deal is activated. We incentivize the market place using spin tokens. Spin tokens derive their power from what you use them to do, if you stake spin it means debt, if you hold, it accrues interest. Hardhat tooling was used. And also remix to quickly prototype.