The problem EZ Pay solves
In addressing a prevalent challenge within the crypto space, I propose an innovative solution that transforms the conventional limitations associated with liquidity pool (LP) tokens. By introducing a novel mechanism, users contributing liquidity to pools will not only receive LP tokens but also gain access to an additional set of tokens, significantly enhancing the utility and flexibility of their holdings. This groundbreaking approach empowers users with a diverse range of assets, ensuring they can make more dynamic decisions regarding their crypto assets. Moreover, this solution fosters a symbiotic relationship between lenders and borrowers, introducing a monthly EMI structure that not only provides borrowers with the necessary funds but also ensures lenders receive a steady return on their investments. This pioneering initiative not only revolutionizes the LP token landscape but also establishes a sustainable and inclusive ecosystem within the crypto world, promising heightened financial inclusivity and innovation.
Challenges I ran into
I ran into few issues one of which was the security issue as many hacks occur around the liquidity pool only. So to prevent this we will be whitelisting some popular tokens only after which we will increase the list. Apart from this the loan will not be approved unless and until, the lender approves it. So lender can verify the token before giving out the money.
Tracks Applied (3)
Polygon Track
Polygon
The Graph Track
The Graph
Scroll Track
Scroll
Technologies used
Cheer Project
Cheering for a project means supporting a project you like with as little as 0.0025 ETH. Right now, you can Cheer using ETH on Arbitrum, Optimism and Base.