LendIt
Lend and borrow with trust
The problem LendIt solves
🧩 Problem
Lending money to friends and family is common, but it often leads to uncomfortable conversations, delayed repayments, and even damaged relationships. Most of these loans are made informally — without written agreements, repayment terms, or any system for reminders or accountability. This casual approach causes confusion, emotional stress, and financial losses.
According to a LendingTree survey, 73% of people were not repaid in full, and 25% said it negatively affected their relationship. Our own survey revealed similar patterns among Indian users — with late payments, awkwardness, and broken trust being the top issues.
✅ Solution
Lendit is a personal lending platform that makes lending to someone you know (like a friend or relative) safe, trackable, and trust-based.
It allows users to:
- Create simple digital loan agreements with amount, interest, and due date
- Share it with the borrower who accepts it digitally
- Track repayments and get automated reminders
- Maintain a repayment history and earn trust scores
- Optionally, use blockchain smart contracts (Core DAO + Ethers.js) for tamper-proof lending
The platform also integrates Supabase Auth to securely identify and manage users, removing the need for manual tracking or uncomfortable follow-ups.
👥 Who Can Use It?
- Friends or roommates who lend each other money regularly
- Families supporting relatives financially
- Students or professionals who want to lend/borrow responsibly
- Anyone looking to keep personal lending clear and organized without legal hassle
- Web3 early adopters who prefer smart contract-based trust
🌍 Why It Matters
In India and beyond, informal lending is everywhere — but it’s broken. People want to help their loved ones but don’t want to chase repayments or ruin relationships. Lendit bridges that gap by adding structure without friction.
By formalizing personal lending with clarity, privacy, and optional blockchain-backed agreements, Lendit:
- Protects relationships
- Prevents miscommunication
- Promotes financial responsibility
- And helps people say “yes” to lending — without fear
Challenges we ran into
🔥 Major Challenges
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Web3 Functionality (Smart Contracts & Wallet Integration)
Implementing blockchain features like deploying and interacting with smart contracts on Core DAO, and connecting wallets via Ethers.js, proved tricky. Managing contract methods, handling network issues, and syncing on-chain events with UI state required in-depth debugging and multiple test runs. -
Sending Requests Between Lender and Borrower
Designing a seamless flow where a lender can send a loan request and the borrower receives, accepts, and starts repayment tracking was more complex than expected. It required careful planning of Supabase authentication, database relationships, and frontend routing logic to keep both users in sync.
✅ How We Solved It
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For Web3, we broke down the functionality into smaller modules: writing the Solidity contract, testing deployments using Hardhat, integrating Ethers.js with frontend calls, and ensuring a smooth wallet experience using Wagmi + RainbowKit.
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For the request flow, we created a two-sided user system where every loan has sender (lender) and receiver (borrower) fields. We used Supabase Auth to fetch the current user and conditionally render dashboard states. Loan records are linked in the database, and real-time status updates are reflected in both UIs.
Tracks Applied (1)
Ethereum Track
ETHIndia
Technologies used