Default Swap Protocol
On-chain Default Swap providing lenders with protection from economic loss from under-collateralized loan defaults.
Project Description
Default Swap Protocol provides decentralized protection against economic risks. While DeFi insurance tends to focus on contract risks and exchange hacks, Default Swap Protocol protects against loan liquidations (in the case of over-collateralized lending) and default events (in the case of under-collateralized lending).
By reducing risks in DeFi lending we hope to broaden access to loans to more users who may not have the resources to participate in over-collateralized lending.
How it's Made
Our contracts are written in Solidity with some tools like Hardhat, Infura, and OpenZeppelin. Our pool contract is in charge of minting and burning our tokens which can be traded in Uniswap. We also have another contract that manages the state of loans which can be used for any lending protocols like Compound, Aave, and Liquity.
The frontend is built with Next.js with some tools like Moralis. It interacts with our contracts through MetaMask. Our users can easily buy & sell coverage, and see their balance in a dashboard.
