MeowLend

Screenshots

Problem Statement

Meowlend is a crypto lending platform specifically for memecoins. It mitigates risk by linking each memecoin to a single ETH pool, distributing any losses among all lenders in that pool. This approach isolates the risk associated with volatile memecoins, making it safer for investors to engage with them. Borrowers can easily take out loans against ETH with a simple, one-click process, while lenders can deposit their memecoins in these pools to earn high APR due to the high-risk nature of the assets. The platform is designed to be user-friendly, drawing inspiration from Uniswap’s interface. It caters to those interested in high-risk, high-reward lending and borrowing within the memecoin market.

Solution

The lending protocol is a dynamic platform allowing users to participate either as depositors of ERC20 tokens to earn interest or as borrowers using ETH as collateral. It features a sophisticated interest rate mechanism based on pool utilization and incorporates advanced liquidation processes supported by oracle price feeds.In creating Meowlend, we used Metamask Wallet and WalletConnect with Wagmi for wallet integration, allowing easy blockchain interactions. Our smart contracts utilize Chronicle Oracles for ETH and Uniswap oracles for memecoins, ensuring accurate data for different assets.