Croslend

Lend, Borrow, and Unite Across Chains

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Built at ETHDenver 2024

MoonBeam: First Place

Created on 2nd March 2024

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Croslend

Lend, Borrow, and Unite Across Chains

The problem Croslend solves

Croslend revolutionizes the DeFi space by introducing a seamless, cross-chain lending and borrowing protocol. In the rapidly evolving world of decentralized finance, interoperability across different blockchains is a critical challenge. Traditional DeFi solutions are often siloed within single blockchains, limiting users' flexibility and access to liquidity.

Croslend tackles this head-on by enabling liquidity to flow freely across chains. Users can now lend or borrow assets on one blockchain and seamlessly use or repay them on another. This not only expands the potential user base for each asset but also enhances liquidity utilization, making the DeFi ecosystem more integrated and efficient.

For lenders, this means broader exposure and increased opportunities for yield generation. Borrowers benefit from enhanced access to capital, with the ability to leverage assets across multiple chains.

In essence, Croslend is not just a platform; it's a bridge towards a more unified and efficient DeFi future, where borders between blockchains dissolve, fostering a truly interconnected financial ecosystem.

Challenges we ran into

Building Croslend was an fun but we had some challenges along the way. One of the initial hurdles we encountered was the integration of Wormhole - since it was our first time using it. While the template provided on Wormhole's website laid the groundwork, adapting it to function seamlessly across any blockchain took a bit - we did get stuck for an embarrassingly long time on goerli & sepolia on Arbitrum + getting the gas. But we figured it out in the end.

The development of our smart contract, particularly the logic underpinning the cross-chain rebalancing, posed another significant challenge. The complexity of ensuring liquidity could not just be shared but dynamically balanced across chains required iterative testing and debugging.

Access to sufficient gas from testnet faucets also proved limiting. We couldn't mock as many transactions as we would have liked, and have to assume that the software will continue to work as more chains and users are added.

Amidst these technical challenges, we faced an unexpected hardware issue: one of our team member's laptop RAM failed. We lost a lot of progress on the website, but managed to performed some laptop surgery and got it working again!

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