Sheliak

Screenshots

Problem Statement

Right now, there's no good ways to borrow against derivative tokens such as vlCVX, or even cbETH. This is due derivative tokens not usually relying on spot markets and relying on some other mechanism to retain value such as redemption, or delivery at a future date.It does mean that it's harder to use these tokens in lending protocols, as often the oracle used is not as robust. We're creating an RFQ system in which borrowers are able to specify how much collateral they want to put down, how much they want to borrow, and the duration they want to borrow. For lenders, they can manually fill the pool offers within the UI, or use a keeper bot to fill offers as they come in. BorrowsWe've created a pool, where protocols or users can do atomic filling on chain when the pool is called.We've created fee tiers APYs, in addition to creating quarterly and semiannual strikes in order to constrain the number of strikes possible.

Solution

One part that was difficult to do was making the UI very clean and organized. We're mainly Solidity devs, so ensuring that there was a clean and intuitive UX was difficult.We deployed on Evmos, Polygon, Optimism, and Gnosis chain and benefited from cheap gas that all the chains afforded to us. This was the address we deployed at for the contracts: 0x9a548059d1931816aa7ec2c31938d4c0254a2db8We also used the Dune API to do simple queries to show to the user the ratio between cbETH and ETH itself.We're also using Piñata to upload images to IPFS so we can have censorship resistant storage.We used various oracles for our pooled oracle implementation, including:Tellor, querying the OHM priceEmpiric, querying BTC dataMidpoint, querying Coinmarketcap data for cbETHWe've added Apecoin into the UI such that it can be borrowed, in addition to testing the ability to collateralize a bundle of NFTs + Apecoin via this solution.