Flex Loan

Flex Loan is a DApp that allows NFT owners to get liquidity without loss the nft rights.

We have two types of users, the first one is the NFT holder, which can lock its NFT and take up to 60% liquidity from the floor price value of its collection. The other 30% is used as a margin of the borrowing system, and the last 10% is used as a Warrant that the Liquidity providers don’t lose money.

If the floor price drop more than 30%, the NFT holder will be liquidated, and the DApp will become the owner of the NFT. After that, the NFT will be sold on any marketplace with the collection’s floor price value to take back the Dapp liquidity.

The second user is the liquidity provider, which can take advantage of the yield that the DApp charge from the loan, and warrant that they have the lowest risk possible. The NFT collections will be selected by the curators' team, and only collections that have real value to the liquidity providers will be available to take a loan, in case of the NFT don’t be sold

This project uses Chainlink NFT price feed to obtain the collection's floor price from the NFT used as a collateral item in the loan on the smart contract and Chainlink Automation to update the loans' state as time passes.

We created a The Graph subgraph to index the contract data and consume it in our frontend and on Sismo's to verify which users can receive a badge for every paid loan.

We create ZK badges using Sismo to attest to a user that he paid a loan he requested

To obtain NFT metadata on the frontend, we used Coinbase Node's NFT API.

To connect a wallet, we used WalletConnect.

To obtain the connected user name and avatar, we used ENS.