EzyLoan

Screenshots

Problem Statement

Wallet Creation and ManagementUsers can create and manage blockchain wallets directly through the platform.Wallets support multiple tokens, including ETH, USDC, and DAI.Wallet details, balances, and borrowed loans are displayed in a simple dashboard.Loan Application for BorrowersBorrowers can apply for loans using either crypto assets or tokenized real-world assets as collateral.Crypto Assets: Borrowers can pledge cryptocurrencies such as ETH or USDT as collateral.Real-World Assets: Borrowers pledge real world assets as colletary and system tokenize it to NFT in order to represent in digital realm.We combine the behavioral, personal and cryptocurrency data along with the collateral to dynamically calculate maximum available loan for each borrower using Artifical Intelligence.Our AI model has 98% accuracy.Loans are tied to specific collateral, with smart contracts managing the collateral and loan terms.Lending Requests for LendersLenders can create lending requests specifying the token they wish to lend, interest rates, and loan terms.Borrowers are matched with lenders based on token compatibility and available loan amounts.Lenders can accept repayment in different tokens through the platform's exchange mechanism.Loan Repayment for BorrowersBorrowers can repay loans partially or fully.Repayments can be made in tokens other than the loan token, with exchange rates calculated automatically.Smart contracts update loan statuses, reduce the loan amount, and release collateral upon full repayment.Smart Contract IntegrationLoans, collateral management, and repayments are handled via secure smart contracts.Smart contracts ensure transparency and automate processes like repayment validation and collateral release.

Solution

This project focuses on creating a decentralized peer to peer lending and borrowing platform with a clear emphasis on flexibility, transparency, and ease of use. Here's how the platform was built, reflecting only the components and technologies we actually implemented together:Technologies Used FrontendSvelte: Used for building a responsive and interactive user interface, including wallet management, loan application forms, and repayment workflows.Custom Styling: Developed a clean and functional interface with lightweight custom CSS for a seamless user experience.BackendFastAPI: Served as the core backend framework for handling API requests, managing loan and repayment operations, and performing token-related logic.JSON Files: Used as a lightweight, temporary data storage solution to prototype and test features like loan approvals and repayments.Blockchain Integrationscdp-sdk: The central library used for interacting with blockchain functionalities, including: Wallet creation and management.Token deployment and swapping.Fund transfers between wallets.ERC-20 Smart Contracts: Used to handle token-based transactions and ensure transparency for loan agreements and repayments.Exchange RatesCustom API Implementation: Built an exchange rate API that calculates the value of tokens using USD as a bridge, supporting flexible repayments in multiple tokens by leveraging chainlink data feed.Custom AI ModelRandom Forest Algorithm: Used to predict the maximum available loan for borrowers based on their collateral and personal, behavioral, and cryptocurrency data.How Components Are Connected Wallet ManagementWallets are created using cdp-sdk and can also display balance information for tokens like ETH, USDC, and DAI.Wallet data is dynamically fetched and displayed in a user-friendly dashboard.Loan Application and ApprovalBorrowers apply for loans by specifying the token type, collateral type, and amount.Collateral and loan values are calculated based on custom exchange rate logic.Lenders' offers are matched to borrowers based on token type and valuation using a custom algorithm.Loan RepaymentBorrowers can repay loans flexibly in any supported token.If the repayment token differs from the loan token, a swap is performed using cdp-sdk.The smart contract is updated with repayment details, and the funds are transferred to the lender’s wallet.Smart ContractsSmart contracts (ERC-20) are deployed dynamically to manage loan terms.Contracts track balances and ensure repayment updates are recorded on-chain for transparency.Notable Hacks & Customizations Dynamic Loan MatchingImplemented a custom algorithm to prioritize matching based on the same token type, with fallback logic for cross-token conversions.Flexible Repayment Options Designed a repayment system that allows borrowers to pay in any supported token, using real-time exchange rates to calculate equivalent repayment amounts.Prototyping with JSON Prototyped key functionalities, like loan applications and repayments, using JSON files before scaling up with more complex integrations.Direct Blockchain Interactions Used cdp-sdk for essential blockchain operations, such as deploying tokens, executing trades, and transferring funds, without relying on third-party wallet providers or protocols.