The problem Protolend solves

Protolend unlocks the common features of a lending platform within Mina ecosystem:

• Lending: Users can deposit MINA to borrow against it.
• Borrow: Users can borrow USDC using their collateral up until a max of 80% of lent amount.
• Repay: Users can repay their borrowed amount and unlock their collateral.
• Withdraw: Users can withdraw their collateral after repaying their borrowed amount.
• Interests: Users pay an interest rate of 1% on the borrowed amount, deduced automatically on each transaction (WIP). The position is liquidated automatically by the sequencer.

Despite other protocols in the DeFi system, the liquidation will be triggered automatically by the sequencer and doing so, no actor should be incentivized to liquidate a position, preventing the manipolation of the market.

Challenges we ran into

Following Protokit examples it was pretty clear, we encountered some problems with VSCode not automatically inferring types and there was some missing examples on the TransactionHook APIs. Sometimes the error messages on the client are not that clear and you need to reload the local chain after some minutes of activity.