WAGBI

WAGBI

Future of On-Chain Lending

Created on 4th December 2022

WAGBI

WAGBI

Future of On-Chain Lending

The problem WAGBI solves

WAGBI is a money market protocol that solves the current On-Chain Lending problems using the several new technologies and the account abstraction primitive.
The major problems we are targeting is:

  1. On-chain lending is the future. It can not be over-collateralized.
  2. Mass adoption of users can not happen with the current UX, Added gas fees, and time-inefficient tx processes
  3. Higher supply rates can not occur without capital efficiency.

With WAGBI the key features are:

  1. Maximised borrow capacity for Users
  2. Seamless User Experience
  3. Increased capital efficiency due to a unified liquidity pool and multiple borrower markets.
  4. NFT-based marketplace to buy liquidatable positions in the protocol (Liquidator's market)

The key uses are:

  1. Users can borrow more than their collateral. They can go Leverage Long. Get >10x exposure on their tokens, leverage their staking yields, Use the borrowed funds and invest in Vaults and Indices to earn passive yield or Leverage Liquidity Provisioning on Uniswap.

  2. Earn higher supply rates: WAGBI's multiple borrower markets increase borrow utilization. This ensures higher rates for the suppliers.

  3. Buy underwater positions at a discount from the Liquidator's Market

Challenges we ran into

EIP-4337 implementation was hard due to the lack of literature available around it.
Enabling undercollateralisation was hard considering the lack of good projects around it.

Tracks Applied (8)

Push Protocol

Push Protocol

General Storage Track

Protocol Labs

ENS

ENS

Cronos

Cronos

The Graph

The Graph

QuickNode

QuickNode

Shardeum

Shardeum

Ethereum Foundation

Ethereum Foundation

Discussion

Builders also viewed

See more projects on Devfolio