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Aada.Finance protocol V1
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The V1 lending protocol will be a peer-to-peer version with the implementation of NFT Bonds.
Full process of peer to peer lending through Smart Contract (no liquidation)
TX1 - Borrower creates Loan request where he will adjust Loan "settings" such as Collateral size, loan period time, fee, Loan asset and amount. Once the borrower confirms the loan request and signs the transaction, he will receive NFT and Loan will appear on "Market" with status "Waiting for Lender". NFT will be used to cancel or change loan parametres.
TX2 - Lender filtrates loan request which is most compatible with his assets, once he decided to fund a loan, signs transaction, receives NFT and funds the loan request.
TX3 - The Borrower's loan time is coming to an end, so he comes back to repay the debt. On the same transaction, the borrower repays the loan by providing NFT + borrowed assets and receives back his collateral with deducted fees.
TX4 - Lender claims back his assets + accumulated fees by providing NFT
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IMPORTANT!
  • IF the borrower will not repay the loan in time, lender will have an option to liquidate his collateral and obtain it.
  • IF the borrower doesn't repay on time but the Lender does not Liquidate him, borrower can repay the loan till Lender liquidates him.
  • Loan requests can be canceled or changed with NFT that you received when you deposited the initial Collateral.
  • Aada.Finance V1 protocol is fully decentralized.
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