StreamLoan

Screenshots

Problem Statement

This project combines a decentralized lending contract and the Superfluid Super token feature of the IbAlluoUSD token. We have written a contract that allows lenders to set up permissionless lending pools based on the source address of yield-bearing streams.Borrowers (in our case employees) who are currently receiving these yield-bearing streams over time can now utilize the lending pools to receive advances against their future income stream from their employers.Lenders set rates algorithmically based on the combined reputation of their employers - not just employees. This results in lower rates, quicker payment and real yield for lenders - from real employers.We envision this to be a more equitable future relative to the present-day reality of predatory payday lending, further facilitated by the innovation of yield-bearing streams which are significantly more capital-efficient for both employers and employees.

Solution

This project uses @Alluo's partnership with @Superfluid, deployed on @Polygon, to borrow against interest-bearing Alluo tokens which represent employee income streams from their employers.Lenders set up permissionless pools (e.g. based on employer @ENS sending addresses they are willing to lend against) from which employees can borrow.