Liz | Devpost

Smart Contract Link

https://sepolia-blockscout.lisk.com/address/0x77ad998b9179ef8db61ac14648135d57e9ceec08

Inspiration

Liz was inspired by the need for a decentralized, transparent, and secure lending platform on the Lisk blockchain, specifically focusing on credit score-based lending. This solution empowers users to lend and borrow funds responsibly without relying on traditional financial institutions.

What it does

Liz is a credit score-based decentralized application (dApp) that enables:

Loan Requests: Users specify the amount and duration.
Loan Funding: Users can fund loans requested by others.
Loan Repayment: Users fulfill their borrowing obligations.
View Loans: Users can see available loans, their active loans, and loans they have funded.
Dynamic Interest Rates: Interest rates vary based on market conditions and user credit scores.
Credit Score Maintenance: Users maintain a credit score, with borrowing restrictions implemented for scores below 500.

How we built it

Liz utilizes the following technologies:

Solidity for smart contract development.
React for the frontend user interface.
Ethers.js for Ethereum blockchain interactions.
Tailwind CSS for responsive styling. The core functionality resides within the Liz smart contract, which manages loan operations, including credit score evaluations and dynamic interest rate adjustments. The React frontend interfaces seamlessly with the smart contract through Ethers.js.

Challenges we ran into

Our main challenges included:

Creating a dynamic, fair credit scoring system.
Ensuring the security and integrity of the smart contracts.
Handling complex scenarios and potential security threats.
Developing a user-friendly interface for diverse user groups.

Accomplishments that we're proud of

Our team is proud of:

Developing a robust, decentralized lending platform focused on credit scores.
Implementing a dynamic interest rate model that adapts to user credit scores and market conditions.
Crafting a user-friendly and intuitive interface.
Ensuring the platform's security and operational integrity.

What we learned

During the development of Liz, we gained insights into:

Advanced Solidity techniques for smart contracts with complex business logic.
Best practices for smart contract security and vulnerability mitigation.
Techniques for integrating React with the Ethereum blockchain.
UI/UX design principles for dApps.

What's next for Liz

Looking forward, we plan to:

Expand the platform to include more cryptocurrencies and tokens.
Implement a decentralized governance model for community-driven decisions.
Integrate decentralized identity technologies to enhance security and privacy.
Form partnerships with other DeFi protocols to broaden our financial service offerings.