Description

This project combines defi and NFTs to provide a platform for people to loan and/or borrow tokens. If a person would like provide some capital for a loan, they are able to do so and provide the terms of the loan. A person looking to collateralize their NFT can browse the loans, select one that fits their needs, and exchange their NFT for the desired amount of capital. If the loan is not repaid with the specified time period, the lender gets to claim the NFT. The lender will get benefits like interest repaid and rewards in the form of an ERC20 token.

DefiNFT showcase

How it's made

We used the scaffold-eth TypeScript version to build this app. We included the Moralis SDK to list out NFTs of the connected wallet. We attempted to use the chainlink api to determine the floor price of the NFT being collateralized, but ran into issues.Lender A lender can lend dai with some parameters (collaterization ratio, lenght of time for loan). Borrower A borrower can borrow based on floor price of their NFT Collection. Loan process if the borrower returns the loan in time, borrower gets his NFT back lender gets ERC-20 rewards if the time passes, the lender can claim the NFT and any rewards from veNFT staking obtained