The problem AaveAnonify solves

Traditional financial institutions often reject loan applications from artists due to low credit scores and limited cash flow. To address this, we offer a lifeline by providing loans to artists, facilitated through stablecoins like GHO tokens and DAI. What makes our approach revolutionary is the collateralization process – we tokenize the artist's creations into NFTs (non-fungible tokens). These NFTs then serve as collateral for the loans, creating a groundbreaking fusion of decentralized finance and the burgeoning NFT market.

The integration with Aave v3 is a pivotal aspect of our platform. It empowers users to dynamically optimize their assets within the Aave Protocol, ensuring efficient yield generation and borrowing power optimization. This feature makes our platform not just a financial solution but a dynamic ecosystem that adapts to the needs of its users.

The NFTs representing the artist's work are listed on our platform, creating a unique marketplace for lenders. Investors can diversify their portfolios by lending money against promising artworks, fostering a symbiotic relationship between financial backers and emerging talents in the creative industry.

Artists, acting as borrowers, benefit from flexible repayment options. As their careers flourish and the value of their artworks appreciates, the repayment process becomes a collaborative journey between artists and lenders, aligning incentives for shared success.

In essence, our platform is a comprehensive solution that not only addresses the financial challenges faced by artists but also introduces a novel way to tokenize, trade, and support artistic creations. It's a visionary fusion of decen

Challenges we ran into

In our endeavor to integrate Anon Aadhaar into our application, we faced several challenges that required innovative solutions to overcome. Initially, we encountered difficulties while verifying the QR code and generating necessary proofs, experiencing errors such as input buffer length zero and type errors. Despite these setbacks, diligent exploration of various repositories related to Anon Aadhaar eventually led us to discover the correct code, enabling us to resolve the errors and proceed seamlessly with the integration process. Subsequently, when attempting to verify the proofs on-chain, we encountered further obstacles, particularly in passing the groth16Proof to the solidity-verifier contract for on-chain verification. However, a breakthrough came when we explored the Anon Aadhaar sample voting repository, leading us to discover the "packGroth16Proof" function from the "@anon-aadhaar/core" package. Leveraging this function allowed us to successfully pass the proof and conduct on-chain verification without further impediments. Another significant challenge arose in determining how to utilize Anon Aadhaar proofs to create unique anonymous identities for users. We devised a solution by identifying that each user possesses unique identity nullifiers and incorporating the user's wallet address as a signal during login. Through signal hashing along with nullifiers, we developed a method to generate distinct anonymous identities for users within our application ecosystem.