OceanProtocol Non-Custodial Loan Infrastructure
Build & Integrate
At the moment, available solutions to the lending of crypto assets are centralised. The fact that these services are centralised raises some concerns such as the funds may be stolen, and the funds are not always available. Ocean Loan Union is our unique solution to this problem. It is a decentralised, non-custodial and trustless protocol that allows users to borrow or lend Ethereum based tokens using ocean tokens as collateral or vice versa using a method known as an atomic swap.
- Design UI/UX files and protocol documentation to enable other devs to implement the systems in their respective application environments.
- Begin the mobile implementation of the Ocean Loan Union in a compatible wallet infrastructure.
- Create Marketing Materials to target crypto enthusiasts and traders to utilise our framework.
A decentralized, non-custodial and trustless protocol that allows users to create overcollateralized debt instruments across Ocean and Ethereum
Creating cross-chain interoperability between Ocean and Ethereum will allow market participants to access liquidity between blockchains by enabling loans to occur between different blockchains without intermediaries.
Some of the benefits to the OceanProtocol ecosystem are:
- Enabling stable coin/ERC20 tokens to access Ocean holders.
- Allowing OCEAN holders to exchange the time value of their tokens without selling.
- Allowing users to Lend and Borrow tokens without intermediaries or giving up custody of their assets.
Some of the risks to the ecosystem if this system is not implemented correctly:
- OCEAN market volatility due to lack of liquidity.
- Centralised OCEAN lending services can be hacked or steal the funds of their users.
- Lack of OCEAN interoperability with other blockchains.
Risks that could make executing this project difficult:
- Libraries in early development stages.
- OCEAN specifications / functionality still not implemented
- Lack of library support for web/mobile environments.
Minimum Funding Requested