Presentation video (한국어, Korean) : https://youtu.be/jtJzHV1Viqk
Service link : https://unique-mousse-f9209e.netlify.app/
Github : https://github.com/codestates/beb-03-project3-LFG
Loans are a familiar concept for us living in South Korea. However, loans, or finance, is a benefit that can only be enjoyed in a few advanced capitalist countries, and it is also an important technology that humans cannot do without in pursuing their lives. When loans and investments are not smooth, the economy becomes stiff, just like when blood circulation is poor, it can lead to a heart attack, and the society cannot become healthy. As of 2021, the total market capitalization of NFTs is about 21 trillion won. Unlike the size of the rapidly growing market, most NFTs are simply being "stored" in wallets. (Source: NonFungible.com Annual NFT Market Report 2021) We aim to liquidate dormant NFTs through p2p collateral loans and add value to the market. Additionally, we have implemented the following features for ecosystem development and community formation: Reduced fees through NFT p2p transactions Sharing platform profits with collateral loan service participants through NFT lottery Minting Oasis Cube NFT to share profits with holders and the platform Growing together as a web3 community through governance voting
Loans begin when a participant who wants to borrow money applies for a loan request on the platform and a participant who finds favorable conditions among the loan request list raises funds.
Creating a loan request: The borrower can apply for a loan by using a whitelist (a list of NFT projects certified by the platform) NFT as collateral from among the NFTs they hold, indicating the amount they want to borrow, the maximum interest rate for the borrowed amount, and the borrowing period. Editing a loan request: The borrower can freely modify the amount they want to borrow, the maximum interest rate, and the borrowing period until the loan is made. Canceling a loan request: The borrower can cancel a loan request they previously applied for until the loan is made. Paying back a loan: The borrower can repay the amount, including interest, within the specified deadline and receive their NFT back. At maturity, they must repay the maximum interest, and the earlier the repayment, the less interest they will have to pay.
Funding a loan request: A creditor who finds the loan request terms favorable receives NFTs as collateral from the borrower and raises funds. Liquidating: Loans that are not repaid within the specified period are liquidated. In the liquidation state, the borrower cannot repay the loan, and the creditor can receive the NFTs that were held as collateral.
A trade is a process where one of the two pre-agreed participants first proposes the terms of the trade, and the other participant responds to the proposal.
The proposer first enters the EOA address of the responder. The proposer completes the trade offer by selecting the NFTs and Klay that they will have and the NFTs and Klay that the responder will receive.
The proposer can cancel the trade before the responder accepts the trade proposal.
