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Borrow DAPP
A decentralized application that allows borrowing of stable tokens by adding collateral to a smart contract.
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Created on 2nd July 2022
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B
Borrow DAPP
A decentralized application that allows borrowing of stable tokens by adding collateral to a smart contract.
The problem Borrow DAPP solves
Traditional banking has a lot of gatekeeping when it comes to borrowing any kind of credit or loan. This DAPP allows users to deposit ether in exchange for FelixGooberStable token. It is not exactly a proper stable coin but for now it has a fixed price in comparison to ether. This DAPP helps me understand certain aspects of DeFi and also gives me the experience of building a DeFI application.
Challenges I ran into
There are couple of challenges I ran into,
- It was really difficult to create a basic frontend to interact with the smart contract
- There is a good amount of learning curve when it comes to understanding how to manage collateral
- I learnt more about ERC20 contracts
Discussion
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