SEC3
SEC3: Secure Assets, Simplified Finance
The problem SEC3 solves
SEC3: Secure Assets, Simplified Finance
The Problem It Solves
In the rapidly evolving world of Web3, managing cryptocurrency and NFTs has become increasingly complex. Users often face the following challenges:
-
Fragmented Asset Management
With cryptocurrencies and NFTs spread across multiple wallets and blockchains, tracking and managing assets becomes a tedious and time-consuming task. Users often need to switch between platforms to get a complete overview of their holdings. -
Lack of Transparency in Transactions
While blockchains are inherently transparent, understanding transaction data can be overwhelming for non-technical users. The absence of tools to visualize and interpret transaction details adds to the confusion. -
Limited Liquidity for NFT Holders
NFTs represent significant value for many users, but unlocking this value often requires selling the asset, which may not always be desirable. This limits liquidity options for NFT owners who need immediate funds. -
Complex Loan Processes
Accessing loans in the traditional financial system can be a lengthy, paperwork-heavy process. In the crypto world, while decentralized finance (DeFi) offers alternatives, the processes are often confusing and lack user-friendly platforms. -
Security Risks
Managing digital assets without robust security measures exposes users to potential risks, including hacks, phishing attacks, and asset loss.
How SEC3 Solves These Problems
SEC3 provides a unified platform that addresses these pain points:
- Unified Asset Management: SEC3 aggregates cryptocurrency and NFT holdings across multiple blockchains into a single, easy-to-use portfolio view using APIs connected to mainnets.
- Clear Transaction Visualizations: A user-friendly transaction visualizer displays details like sender, receiver, amounts, and timestamps,
Challenges we ran into
Challenges We Ran Into
1. Real-Time Data Fetching Across Multiple Blockchains
- The Challenge:
Fetching and aggregating real-time data from multiple blockchain mainnets was a complex task. Each blockchain has unique APIs, data structures, and response formats, making integration and synchronization challenging. - How We Overcame It:
We implemented a modular API integration approach, where each blockchain's API was handled by separate utility functions. These functions standardized data into a unified format, making it easier to display in the portfolio. Additionally, caching mechanisms were introduced to reduce the load on APIs and improve performance.
2. NFT Collateral Loan Logic
- The Challenge:
Developing the smart contract logic for NFT collateralized loans was tricky, especially ensuring that the NFT is securely locked during the loan tenure and automatically returned upon repayment. Handling edge cases like partial repayment and loan defaults added complexity. - How We Overcame It:
We created a robust smart contract using Solidity, with clearly defined functions for collateral locking, repayment, and NFT return. Extensive unit testing was conducted on platforms like Hardhat to ensure all edge cases were accounted for. Clear error messages were added to help users understand any issues during loan transactions.
3. Transaction Visualization
- The Challenge:
Visualizing transactions in a user-friendly way, especially with complex blockchain data, was a significant hurdle. The raw transaction data provided by blockchains was often hard to interpret. - How We Overcame It:
We designed a clean and intuitive UI for the transaction visualizer, using libraries like D3.js for interactive data representation. The data was pre-processed and categorized (e.g., sent, received, pending) to make
Tracks Applied (5)
Polygon Track
Polygon
Ethereum Track
ETHIndia