PeaceFeb
An Undercollateralised Loan Platform Which Let User to Participate in Storage Providing & for SP to Loan with 0 Collateral through Profit-Sharing Model
Project Description
PeaceFeb is an undercollateralised loan platform which let user to earn interests with their FIL while encouraging the participation of storage providers to increase Filecoin's storage capacity. PeaceFeb provides 0% loan to SP while enabling lenders to earn mining rewards through a profit sharing model. With PeaceFeb, SP is able to start their mining process with no initial FIL capital and can receive monthly payout as opposed to the 180 days constraint set by Filecoin.
Using PeaceFeb, reputable storage providers are able to apply for a loan. With every loan approved, SP is assigned with a new Lotus Wallet. A Lotus Wallet is programmable and can be used to perform mining operations and block rewards are automatically distributed to SP and lenders through the Lotus Wallet.
How it works
- Filecoin holders can deposit FIL into our Loan Pool smart contract
- Storage providers can apply for loan depending on the loan pool balance
- Every time a loan is approved, a Lotus Wallet associated with the storage provider is created
- Each Lotus Wallet is used to perform mining operation and can receive block rewards.
- The rewards are then distributed to the lenders through our Treasury contract and can be claimed by the storage provider.
Why use PeaceFeb?
- Lower entry barrier to become a SP using PeaceFeb (0 collateral & repay for loan through profit-sharing model).
- Filecoin holders can participate in mining process by lending extra FIL
- Block rewards can be withdrawn anytime after being received from vesting for SP & Lender (no lockup)
- Lenders' funds are secured by our Lotus Wallet Smart Contract
- Lenders' funds can be withdrawn anytime provided there are enough balance in Loan Pool at time of withdrawal
How it's Made
This is our tech stack:
Frontend Programming languages: TypeScript, JavaScript Frameworks: ReactJS, NextJS, Wagmi, etherjs
Backend Smart Contract: Solidity Network: Hyperspace
Our application introduces 3 main components into Filecoin's ecosystem which are the Loan Pool smart contract, Treasury smart contract and Lotus Wallet. In upcoming future, we would like to integrate on-chain CRON job to minimize slashing and maximize capital efficiency
We also used Spheron to deploy our application, which is easy to use and reliable. Love it!
