PeaceFeb

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Problem Statement

PeaceFeb is an undercollateralised loan platform which let user to earn interests with their FIL while encouraging the participation of storage providers to increase Filecoin's storage capacity. PeaceFeb provides 0% loan to SP while enabling lenders to earn mining rewards through a profit sharing model. With PeaceFeb, SP is able to start their mining process with no initial FIL capital and can receive monthly payout as opposed to the 180 days constraint set by Filecoin.Using PeaceFeb, reputable storage providers are able to apply for a loan. With every loan approved, SP is assigned with a new Lotus Wallet. A Lotus Wallet is programmable and can be used to perform mining operations and block rewards are automatically distributed to SP and lenders through the Lotus Wallet.How it worksFilecoin holders can deposit FIL into our Loan Pool smart contractStorage providers can apply for loan depending on the loan pool balanceEvery time a loan is approved, a Lotus Wallet associated with the storage provider is createdEach Lotus Wallet is used to perform mining operation and can receive block rewards.The rewards are then distributed to the lenders through our Treasury contract and can be claimed by the storage provider.Why use PeaceFeb?Lower entry barrier to become a SP using PeaceFeb (0 collateral & repay for loan through profit-sharing model).Filecoin holders can participate in mining process by lending extra FILBlock rewards can be withdrawn anytime after being received from vesting for SP & Lender (no lockup)Lenders' funds are secured by our Lotus Wallet Smart ContractLenders' funds can be withdrawn anytime provided there are enough balance in Loan Pool at time of withdrawal

Solution

This is our tech stack:Frontend Programming languages: TypeScript, JavaScript Frameworks: ReactJS, NextJS, Wagmi, etherjsBackend Smart Contract: Solidity Network: HyperspaceOur application introduces 3 main components into Filecoin's ecosystem which are the Loan Pool smart contract, Treasury smart contract and Lotus Wallet. In upcoming future, we would like to integrate on-chain CRON job to minimize slashing and maximize capital efficiencyWe also used Spheron to deploy our application, which is easy to use and reliable. Love it!