SaviFi
At SaviFi we offer a "One Stop Smart Savings Account" Defi platform that automatically transfers users' funds to the highest savings return Defi platform.
The problem SaviFi solves

We want to address the painstaking job of an investor to research for platforms offering the best interest rates and to be constantly updated with APR volatility for his account holdings on various Defi platforms. Validating the authenticity of these umpteen Defi platforms is another herculean job for a user. This not only requires technical knowledge but also the efforts to keep a track of returns on various lending platforms.

At SaviFi we offer a "One Stop Smart Savings Account" platform that provides the facility to a user to let SaviFi do the job of managing his fund’s hassle-free. The objective of SaviFi is to ensure the users get the best returns on their savings. We plan to enable this by automatically toggling the users' funds from one platform to another basis the interest rates being offered across various Defi platforms. All the automatic funds' transfer will be meta-transactions and will not require any interaction with the user. Savifi will act as fund manager of the users’ fund and will charge a small fee on the returns made by the end-user

We aim to also incorporate trending methods like Yield farming to leverage on Defi protocols and generate the highest returns for our users. We intend to integrate with all popular Defi platforms on our portal like compound, Aave, Dydx, maker, etc. Basis the interest rate on these platforms we shall shift the users’ deposits on the highest return offering platform

For further details please refer our white paper at-https://drive.google.com/file/d/1VeQa-g64T1_vmTa8CJuYMTsgeGXC26ND/view

Challenges we ran into

1)While building our project using InstaDapp DSA, the resolver functionality was not integrated with Kovan test-net (Available only on the main-net). During that time we had to limit our code testing 2)Instadapp uses msg.sender() for verifying the authority of DSA account mapped with users' accounts. Due to this, we were not able to use Biconomy SDK for meta transactions. To overcome this we used Gnosis forwarder contract to enable meta-transaction via Biconomy 3)As the token address of Aave and Compound Dai is different on Kovan test-net network, we had to create a liquidity pool with a 1:1 ratio of both Aave and Compound Dai. We have demonstrated our automatic funds' toggle functionality through this liquidity pool only. However, on main-net the Dai address for both protocols is same 4)Some important steps to use DSA functionality were not included in InstaDapp DSA documentation due to which we were not able to initially run the Deposit function. But the InstaDapp team was responsive and informed us to enable allowance of tokens to DSA account, in our case Dai.

Updates
  • Created ProjectJune 20, 2020 3:23 PM2 years ago

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