InstaDapp - Using MakerDAO, Kyber Network & Embark framework
Resolver contract & Dapp on top of MakerDAO CDP for Loan, Trade / Swap ERC20 tokens against margin or collateral of ETH and repay Loan (Protocols used: MakerDAO CDP, Kyber Network)
The problem InstaDapp - Using MakerDAO, Kyber Network & Embark framework solves
  1. Currently, MakerDAO CDP process is tedious and it involved multiple steps for users, with this Dapp user will be easy take loan against the ETH and also trade them using Kyber Network integration.

  2. Our smart contract manages the leverage so it can issue more loan for users with additional interest % and compensate to the user who has taken lessor loan than their eligibility.

  3. For user made it very simple he only will deal with DAI / ETH, all the underlying conversion to MKR, PETH, WETH is handled by the smart contract while repaying back for users.

  4. 99% of the crypto users buy or get DAI using the exchange, our smart contract will make it easy for users to use the ETH as collateral to get DAI which will Increase the adoption of DAI usage,

  5. Resolver contract on top of MakerDAO CDP protocol which issues the DAI Loan, Trade / Swap ERC20 tokens against margin or collateral of ETH and repayment of the Loan all using single Dapp (Protocols used: MakerDAO CDP, Kyber Network) - https://ethindia.conteract.io/

Challenges we ran into
  1. Understanding the MakerDAO CDP Smart Contract was very essential to simplify the process and make it easy for users to take the loan against the ETH

  2. Use case that we are working on was making it easy for traders who would like to keep the ETH but still would like to trade other tokens, so to make that also easy we had to integrate with Kyber Network to SWAP/Trade other ERC20 tokens on Ethereum

  3. Making the Dapp, Smart Contract and deploying on Dapp on live https cloud server all in 30 hours was really stressful - https://ethindia.conteract.io/

Technologies we used

Updates

  • Created ProjectAugust 12, 2018 11:30 AM2 years ago

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