The problem PiTuPy - DREX lending protocol solves

PiTuPy is a DREX lending protocol over the Bitfinity Network, designed to bring decentralized finances closer to brazilians.
In Brazil, credit is expensive and scarce.
Taxes, defaults, interest rates and lack of information create an unfavorable scenario.
The credit offer is low, default rates are high and the recovery rate is below acceptable levels.

Our Solution is to create a protocol to:

• Add liquidity
• Eliminate intermediaries
• Reduce costs
• Reduce SPREAD
• Bring transparency
• Connect RWA

Using DREX – the digital Brazilian currency – and creating a personal loan market, from PERSON to PERSON (Peer to Peer), or, as we affectionately call it: PiTuPy – a Personal Lending Protocol that uses wrapped DREX over the Bitfinity network in liquidity pools that enable cheaper and faster loans.

Challenges we ran into

As always, time constraints are the main problem in a hackathon. We had to make choices to simplify the idea and still be able to demonstrate how this backbone can scale to a complete solution in the future.