Undercat

Undercat

Undercat is a lending platform deployed on Mantle. If the user KYCs with Binance via Know Your Cat ID, our platform offers undercollateralised loaning, otherwise it offers overcollateralised loaning.

The problem Undercat solves

Overcollateralised lending dominates Web3 but there are few advantages offered to users who go through a verification process and have a high credit score outside of Web3. Our platform offers a solution to this -- if the user KYC's they are an "undercat" and can take an undercollateralised loan, otherwise they are an "overcat" and take an overcollateralised loan. Our solution includes several parts:
(1) We forked the Aave Protocol and modified it to deploy it to Mantle, thereby creating the "Overcat" overcollaterised lending functionality on Mantle
(2) We used ChatGPT to create a simple undercollateralised lending smart contract and we deployed it to Mantle, thereby creating the "Undercat" undercollateralised lending functionality
(3) We used API3 to read data from a dApi for price feeds for liquidations which could be inregrated with the lending contracts and deployed that contract to Mantle
(4) We used KnowYourCat ID to check whether a user has KYC'd on Binance and based on that showed the user whether they are an "UnderCat" or "OverCat" and linked to the appropiate lending contracts

Challenges we ran into

We started by forking the entire Aave protocol and had several challenges deploying it to Mantle. As Aave is a rather complex codebase, there were multiple files that needed to be changed in order to add a new network. We overcame this hurdle by changing one of the existing networks to work with Mantle.

Another challenge was that Aave was integrated with Alchemy and Tenderly, whereas Mantle is not integrated with Alchemy and Tenderly.

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