Spinoza

#SPINOZA

Spinoza is a proposed Data Decentralized Autonomous Organization (DAO) that aims to incentivize reliable storage services by combining the concepts of on-chain lending and programmable data vaults. The DAO performs due diligence on storage providers and allows them to take out undercollateralized loans in exchange for staking Spin tokens. These tokens represent both storage capacity and interest, and a portion of the fees collected goes towards incentivizing the providers to not default on their loans. Data is tokenized and clients can deposit funds into the storage provider's pool, which automatically triggers the loan. The goal of Spinoza is to create a self-sustaining system that balances the interests of storage providers, investors, and clients.

The basic flow is as follows:

1. A storage provider deposit Fil into spinoza’s lending pool and get’s spin tokens in return.
2. An investor does same and he gets spin tokens too.
3. Spin tokens Staked mean storage capacity.
4. Spin tokens held mean interest.
5. The Dao on-chain Due Dilligence on a storage provider, if he passes he registers with the dao.
6. After registering, the storage provider stakes his spin tokens given the right to create a permissionless single sided storage pool where any one can swap data into.
7. Data is tokenized as it is already done today, an example is NFTs.
8. The storage pool of the storage provider being single-sided has just collateral in it which represents storage capacity on-chain
9. a minute before we talk about lending…
10. A storage client creates a new vault that lets him tokenized data which just simply means specifying data properties, such as ipfs payload
11. The vault lets the data be funded by any one.
12. Once funded. The data can be swapped into the Storage providers pool.
13. When data is swapped in to a pool the lending protocol automatically lets the storage provider take out a loan for collateral of that data.
14. It is undercollateralized and the ratio is 60 / 40.
15. the protocol collects the money back from the sp + interest
16. the storage pool charges a fee in spin tokens which helps soften storage providers defaulting on a loan

This projects uses the Fevm to power its undercollateralized and market making service, It is built with solidity. The lending protocol uses the miners raw power from the power actor for on-chain due-diligence about a storage provider before the storage provider is allowed to take a loan, and the get deal activation from the marker actor to verify if the deal is activated. We incentivize the market place using spin tokens. Spin tokens derive their power from what you use them to do, if you stake spin it means debt, if you hold, it accrues interest. Hardhat tooling was used. And also remix to quickly prototype.