Inspiration
I just witnessed that no stunning lending/borrowing was available on the Evmos Blockchain. Then, I effectively thought about Compound which was a main inspiration during this project.
What it does
The protocol enables borrowing, lending, and in the near future swaps aggregation across all markets on Evmos for best efficiency and execution. The protocol helps user to work with stablecoins by the use of synthetics (mainly "SEB" stablecoin which is backed by user's collateral). I aim in the future to implement a hedging module to protect the peg from movements by selling this volatility to more degen players through perps or futures products.
How I built it
I built three main products :
- API = entry point for the webapp to access complex data from the Evmos blockchain related to the contracts' events, written in Node.Js.
- Contracts = all the core contracts written in Solidity.
- WebApp = entry point for users to interact with front end, written in Typescript/ReactJs.
Challenges I ran into
- Interacting with the borrowing option on front end which is bugging currently.
- Owner permissions on the Governance contracts and some issues with proxies management and locking period of proposals.
- How to retrieve price of the MIA governance token, same issue with Evmos as no feed price seems to exist as far as I know.
Accomplishments that I'm proud of
Being able to work on a complex architecture and see how the telegram group was responsive for technical questions. Moreover, I'm delighted to see that the product would be able to offer more options for people that want to join IBC and Evmos Blockchain. The future is multichain.
What I learned
I learned how to work under constraints and in a tremendous environment which is changing the world each single day. I had the chance to learn IBC architecture and understand the real vision for Evmos participants. I learned how to interact between a blockchain infrastructure on the backend and how to talk seamlessly with front end in order to bolster the user experience.
What's next for Lalalend Finance
In the coming months, I deeply want to implement a DEX (sor) aggregation market to make efficient swaps a common thing in the ecosystem. Nowadays, Evmos has a lot of pools but no competitive market where best price is ensured for participants. Moreover, the stablecoin(synthetic) mecanism will be hugely improved with the introduction of a hedging module. The module will sell volatility of the market to degen participants with the creation of perps and futures. Last but not least, I strongly believe veToken models are the future of governance, thus my goal is to implement such a feature for the DAO governance model of Lalalend. It will give back even more rewards to the users and help others to vote powerful decisions in an efficient manner.
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