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SafeLoans: A P2P Lending Borrowing Platform

SafeLoans: A P2P Lending Borrowing Platform

A decentralised & trustless P2P Lending Borrowing platform giving Fiat Currency loans with Crypto assets as Collateral.

Created on 4th December 2022

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SafeLoans: A P2P Lending Borrowing Platform

SafeLoans: A P2P Lending Borrowing Platform

A decentralised & trustless P2P Lending Borrowing platform giving Fiat Currency loans with Crypto assets as Collateral.

The problem SafeLoans: A P2P Lending Borrowing Platform solves

  • A smart contracts enabled trustless lending borrowing platform enabling users to provide faster and trustless P2P lending borrowing services.

  • Due to slow economy and high inflation, a lot of users would want to mortgage their crypto assets and receive loans on it quickly and safely.

  • Lenders would happily provide loans if they get a better interest rate than banks and safety and transparency of their investment.

  • Both Borrowers and Lenders get quick access to liquidity as per their requirement without a lot of paperwork and delays.

  • Borrower gets an alternative to bank and multiple options to avail loan as per their needs without any hustle, and full control of their investment.

  • P2P lending connects borrowers directly to the lenders. The lenders set the interest rates and terms of lending.

  • The system is designed in a way that smart contract protects the interests of both the lenders and borrowers.

  • There are lot of lending borrowing platforms but most of them are either centralised or offer just borrowing services. This is one of its kind smart contract enabled platform where users can both lend and borrow. Moreover, users can borrow fiat against crypto as collateral.

Challenges we ran into

  • We couldn't get time to implement PUSH notifications using PUSH Protocol.
  • We could not implement all the functionalities in UI.

Tracks Applied (2)

Shardeum

Shardeum

Shardeum

Ethereum Foundation

Ethereum Foundation

Ethereum Foundation

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.

Discussion

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