The problem Cheesecake Finance solves

Cheesecake Finance, as a borrowing and lending DeFi protocol, addresses several pressing challenges in traditional and decentralized financial ecosystems. In traditional finance, accessing loans often requires lengthy approval processes, strong credit histories, collateral verification, and the involvement of intermediaries, such as banks or credit unions.These barriers exclude millions of people worldwide, particularly those in underbanked regions or individuals without access to traditional banking systems.
Cheesecake Finance eliminates these obstacles by providing a permissionless, decentralized platform where anyone with a cryptocurrency wallet can participate in lending or borrowing without relying on a central authority. Users can borrow funds by leveraging their cryptocurrency assets as collateral, enabling them to access liquidity without liquidating their holdings, preserving long-term investment positions.
For lenders, the protocol offers an opportunity to earn interest on idle assets, creating a passive income stream that is automated and transparent. Furthermore, traditional lending systems often lack transparency, leaving borrowers and lenders in the dark about how interest rates are determined or how their funds are utilized.
Cheesecake Finance addresses this by using smart contracts, which ensure that all processes, from interest calculations to collateral management, are automated and visible on the blockchain, fostering trust among participants.
It also empowers users to have full custody of their funds, enhancing security and eliminating risks associated with centralized failures. By solving these issues, Cheesecake Finance provides an inclusive, efficient, and transparent financial ecosystem that democratizes access to borrowing and lending for individuals and institutions worldwide.

Challenges we ran into

Building Cheesecake Finance involved navigating several challenges to create a seamless collateralized lending and borrowing DeFi protocol. Integrating Supra's Move VM required deep learning of its novel architecture, ensuring optimal performance and security within its unique framework.
Leveraging Supra Oracles presented the challenge of accurately fetching and integrating real-time crypto asset prices while maintaining system responsiveness and reliability.
Deploying on Citrea added another layer of complexity, as it required adapting to an experimental testnet with evolving features, ensuring compatibility and stability for our protocol.
Additionally, designing a user-friendly interface and robust smart contracts demanded extensive testing and iteration to balance security, scalability, and usability in a decentralized environment.

Additional Features

Cheesecake Finance stands out with innovative features tailored for a cutting-edge DeFi experience. It offers dynamic collateral management, adjusting requirements based on asset volatility and user behavior, and integrates flash loans for advanced use cases like arbitrage and liquidation.
The protocol supports multi-chain assets via cross-chain bridges, enhancing liquidity and accessibility. Real-time risk alerts protect users from liquidation, while gamified rewards and sustainable liquidity mining incentivize long-term participation. Governance is community-driven, empowering users to shape the protocol’s future.
Additionally, features like real-world asset integration, AI-optimized interest rates, and developer-friendly SDKs position Cheesecake Finance as a versatile, transparent, and inclusive DeFi solution.