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Bru Finance

DeFi on Real World Assets (NFT) with Fixed Interest Rates

The problem Bru Finance solves

The current DeFi space is focused on highly over-collateralised digital assets and serves only a small set of crypto native population either looking for high yield or borroiwng against crypto holdings. That leaves out 7 billion people out of DeFi space who earn, invest and hold assets in real world assets. Bru brings highly liquid commodities to DeFi world against which traditional institutions like banks already lend if commodities are stored in accredited warehouses on our parent startup Whrrl (www.WHR.loans) blockchain platform. Commodities loan is Bru’s first DeFi application and the project will expand to other real world assets soon.

Challenges we ran into

One crticial issue we faced while building this was to create NFTs from the real-world assets on our platform. The reason behind this is the way the Kilogram-to-NFT conversion on our platform was originally built. We got around this problem by redefining the conversion specification, which opened another pathway for us - which was to allow for partial repayments and delivery to happen even at the NFT level.

Technologies used

Discussion