LendOne - Decentralized Finance Overcollateralized Lending Protocol

LendOne represents a decentralized finance (DeFi) lending protocol operating on the principle of overcollateralization. It utilizes on-chain social profiles as collateral for borrowing assets within the blockchain ecosystem. The project leverages solutions from a consortium of sponsors including Arbitrum, Gnosis Chain, Polygon, IPFS & Filecoin, Metamask, Scroll, Push Protocol, Celo, and Mantle.

Description

LendOne boasts an intricate system of smart analytics and an advanced social graph mechanism actively monitoring blockchain activities. This functionality generates distinct reputation scores for users, directly influencing their eligibility to borrow assets within the protocol.

Problem Statement

Conventional undercollateralized lending protocols in the DeFi space suffer from inadequate borrower incentives for timely loan repayment. Integrating on-chain social media profiles like those from the Lens Protocol is poised to revolutionize this challenge by leveraging digital identity and reputation as potential solutions.

How LendOne Functions

Collateral Deposits: Leveraging Social Profiles

LendOne empowers users to deposit their Lens or ENS profiles as collateral. Beyond serving as digital identities, these profiles hold intrinsic value derived from the user's reputation within the ecosystem, directly impacting their borrowing capabilities.

Key Functionalities

• Uninterrupted Access: Users retain complete access to their Lens or ENS profiles even after utilizing them as collateral.
• Timely Repayment Notifications: Push notifications alert users as the loan repayment deadline approaches, providing insights into their health factors and potential risks of liquidation.
• Collateral Retrieval: Upon successful repayment of the loan, users regain access to their initially deposited collateral.

Consequences of Non-Repayment

Failure to repay a loan within the stipulated timeframe triggers a soft ban, imposing specific restrictions:

• Lens: All interactions on the platform are blocked.
• ENS: Funds are frozen within an escrow account, subsequently redirected to the lender.
• Vouching Limitation: Vouching capabilities are restricted to a maximum of two per wallet.

Application Architecture

The architecture of LendOne encompasses crucial components:

• Social Credit Scoring: Utilizes blockchain activity to derive an on-chain reputation score for individual users.
• On-Chain Reputation as Collateral: Users deposit Lens or ENS profiles as collateral, symbolizing their value within the ecosystem.
• Sybil Resistant Vouching System: Implements a robust vouching system to foster trust and prevent malicious activities within the ecosystem.

" Please review Scroll Judge "

Deployed on

Arbitrum mainnet LoanContract : 0x9E7a4e8EF0A5F7949602e2Ff71dD0FFBC4F9Db91 Asset. : 0xc81c0D879650a41d0C7A1ff588df7e11A5BFFeC4

Gnosis Chain Main contract: 0x06a885610f0777c12125cba1470461cc4ca032af AssetProof: 0x6739e925c617FD8d72Ee9466439fFF7c0d5Bef8D

Polygon ZkEvm Testnet: AssetProof: 0xdF139C6B1283514472Afc5d3e0A0D52b7f64f8Ed MainContract: 0x532E6Ce0763Da28346906E06C8C9922f3B5F479b

Arbitrum Sepolia Testnet: LoanContract : 0x9E7a4e8EF0A5F7949602e2Ff71dD0FFBC4F9Db91 AssetProof : 0xf5a672774a53872e7C6773Aa04F41a7F6c37e327

Scroll Asset scroll asset: 0x5f3f1dBD7B74C6B46e8c44f98792A1dAf8d69154 Loan Contract : Talked with Raza and couldn't deploy due to RPC problems

Celo Asset: 0x0B15b524011cDF374B87Bd3ED0c844F8948B8608 Loan Contract : 0xe8B3CB3BF75Ae25ec97942AaAce603590DE2b668

Linea LoanContract : 0x9E7a4e8EF0A5F7949602e2Ff71dD0FFBC4F9Db91 AssetProof : 0xc81c0D879650a41d0C7A1ff588df7e11A5BFFeC4