nexus

This project was developed as a part of Hackathon: HackInfinity 3.0.
Made with ❤ by Team Phishers+ve.

Tech Stacks used

Initially when a new user signs up in our website we will read their meta-mask address and mint a profile Soul Bound Token (SBT) (an NFT that cannot be transferred). Its metadata will also contain credit/ reputation score of users.
After that if user chooses to borrow, they will be asked to input amount and token in which they choose to borrow. In backend this step interacts with our smart contract deployed on FVM (Filecoin Virtual Machine) and a Borrower instance is generated.
As this is a P2P lending, above created instance along with other borrowers is shown to lender with the credit score present in metadata of Profile NFT. So, lender can choose the interest rate based on Credit score and adjust his risk.
Once lender decides which borrower he wants to lend, he can then click on Lend button after deciding on interest rate, this with lead him to signing a transaction and transferring value directly to borrower through our Smart contract.

Connected the wallet with our application by minting the profile NFT and deployed it on polygon and store the wallet address on MongoDB.
Created smart contract deployed on FVM (Filecoin virtual machine) for the lending/borrowing process. The wallet address of the borrower, amount to be borrowed, credit score and BID(borrower ID) are stored in the mongo server and the BID will be used to fetch and show the details of the borrower to the lender and by entering the BID, the lender can simply choose to lend the amount to whoever he/she wishes.
The amount will be safely transferred using the smart contract. The sign-up process will only be successful if the profile is not already minted with a soul bound token since it is a NFT which cannot be transferred.

That's all for now folks!