About
ElectroLend is a decentralized lending protocol built on the Electroneum blockchain, offering fast, low-cost, and secure crypto lending and borrowing. Designed for efficiency and accessibility, it empowers users to earn interest, access liquidity, and participate in DeFi with ease.
Inspiration
ElectroLend was inspired by the need for a decentralized lending protocol optimized for the Electroneum blockchain. Existing solutions like AAVE and Compound are Ethereum-centric, leading to high fees and slower transactions. By forking AAVE v2 and adapting it for Electroneum, we aimed to create a low-cost, efficient alternative.
What I Learned
- Understanding AAVE’s smart contract architecture
- Implementing custom price oracles for Electroneum
- Optimizing lending parameters for a 5-second block time
How I Built It
- Forked AAVE v2 and adapted it to Electroneum
- Integrated WETN, TUSDC, and TUSDT as supported assets
- Developed a price oracle system to ensure accurate valuations
- Deployed and tested on the Electroneum testnet
Challenges Faced
- Adapting AAVE’s structure to Electroneum’s ecosystem
- Ensuring seamless integration with existing testnet tokens
What's next for Electrolend.io
ElectroLend is a step toward expanding DeFi opportunities on Electroneum, making lending and borrowing more accessible to a broader audience. We have a well developed roadmap developed for the much anticipated mainnet launch.
Built With
- electroneum
- nextjs
- solidity
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