AaveGHOtchi

AaveGHOtchi gives the opportunity to obtain loans against splited crypto collateral across different chains. The two main actors are the borrowers and the lenders who deal with the Facilitator contract.

The process can be splitted in 6 steps: Step 1: The lender registers by getting access to GHO tokens against a selected crypto that goes to the pool and the corresponding amount of GHO tokens are minted to the contract address against the lender address.

Step 2: The borrower evolves his Aavegotchi NFT to AaveGHOtchi NFT i.e generate the TBA address for his NFT. Now the borrower canposts the loan requirements on the portal.

Step 3: The borrower can transfer his assets on various blockchains the value of which when combined equals to the value of amount of GHO tokens he needs. For example, if the borrower has User has 50 USD worth ETH, 25 USD worth Link, 25 USD worth ERC20 token on different blockchains or on same blockchain, but he needs to borrow 100 USD worth GHO tokens, he can transfer these tokens to the TBA of his NFT on respective chains instead of bridging those tokens and then later converting them into a single token. The value of his NFT is now calculated based on the value of tokens owned by his NFT i.e TBA address. TBA : Token Bound Address - Generated using ERC 6551.

Step 4: The lender sends offer corresponding to the loan listed by the borrower

Step 5: The borrower then accepts the offer and the NFT is set as the collateral.

Step 6: On completion of loan period the borrower can get his NFT back by repayment with stated interest.

The user onboarding is supported by customization provided by ConnectKit by Family.

The frontend is designed in NextJS.

The GHO token smart contract is deployed on Polygon Mumbai network along with the mock Aavegotchi NFT contract and Facilitator contract - which defines the allocation of GHO tokens amongst lender and borrower.