finSafe

finSafe

Secure your assets on lending protocols like aave using our alerting and protection mechanism.

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Built at ETHIndia 2023
finSafe

finSafe

Secure your assets on lending protocols like aave using our alerting and protection mechanism.

The problem finSafe solves

The user's collateralized debt positions are always under the thret of liquidation dure to severe price volatility and as the user cant continiously monitor the position. With our alerting mechanism the user gets instantly notified whenever his/her position's health factor croesses a certain threshold, when more collateral is deposited into their position, when collateral is withdrawn, when debt is repayed, when debt is taken etc. Also with our protection mechanism the user can use the health factor prection tool to calculate at what price and what amount should he invest more/ take out his collateral and he/she can then can use our collateral management tool to predefine their investments and withdrawals.

Challenges we ran into

We needed to update the position of the user in mongoDB, but the structure of the document was very nested which made it very difficult for us to update the positions. We studied about various operators used in mongoDB which helped us solve this problem.

The health factor we were calculating was coming out to be wrong, turned out we were using the wrong liquidation thresholds. The thresholds got updated recently through a DAO proposal.

We were not able to figure out a way to let user subscribe on the frontend to a push protocol channel, then we went to the push protocol booth to take help and they were very helpful.

Tracks Applied (3)

1inch Track

We have used 1inch APIs to get information about tokens. We need to display token details and their logos on our fronten...Read More

1inch Network

Chainlink Track

We have used chainlink price oracles to get price of tokens which is in turn used to calculate the health factor of the ...Read More

Chainlink

Push Protocol Track

We have used push protocol to send alerts to users which have chosen their alert medium preference to be push protocol. ...Read More

Push Protocol

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