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Nicholas Cannon edited this page Dec 28, 2018 · 5 revisions

Situation overview:

Bloqboard, a non-custodial Digital Asset Lending Platform powered by decentralized finance protocols Dharma and Compound, provides the ability to borrow and lend certain ERC-20 tokens. Bloqboard enables two types of loans: 1) peer-to-peer loans via Dharma protocol and 2) borrow and lend on liquidity pools via Compound protocol. The web application fulfills the needs of the average cryptocurrency trader or investor but is harder to run algorithmic trading strategies. This is where Bloqboard Lending Wallet comes in. We provide the first opportunity to engage in on-chain lending over an API in a non-custodial manner.

Solution works with Ethereum Mainnet and Kovan networks.

This solution is provided without any warranties and it may contain bugs. Users of this software are responsible for any losses that can occur during use.

Solution:

Bloqboard provides sophisticated cryptocurrency traders access to peer-to-peer and liquidity pool loans via an API. The proposed API could also be used to provide borrowing/lending of tokens to customers of exchanges and allows aforementioned parties to keep custody of their assets. The solution is the Bloqboard Lending Wallet, open-source software that runs on the server of your choice to enable interaction with Dharma and Compound protocols smart contracts. The proposed solution can be accessed via API**,** command-line interface or web interface.

Solution components and participants:

  • Bloqboard Digital Asset Lending Platform (DALP) - provides web and mobile interface to non-custodial borrowing and lending via open source finance protocols.
  • Bloqboard Lending Wallet - open-source software installed on Trader/Investor's servers that allows to borrow and lend programmatically.
  • Bloqboard API - API that provides access to Dharma and Compound protocols.
  • Trader/Investor - parties interested in borrowing/lending ERC-20 tokens.
  • Trader/Investor's server - hardware and/or software solution controlled by Trader/Investor.

Workflow:

  1. Install the distribution of open-source Bloqboard Lending Wallet on the server of your choice. Alternatively, obtain the source code from Github, compile and install it.
  2. Run Bloqboard Lending Wallet.
  3. Provide an Ethereum wallet private key (or one will be generated for you) to the Bloqboard Lending Wallet instance on your server.
    1. This allows Bloqboard Lending Wallet to interact with Dharma and Compound protocols smart contracts on your behalf. The private key remains inside your environment (server) at all times and is not accessible to anyone besides you.
  4. Transfer tokens to your Bloqboard Lending Wallet to perform the following activities programmatically:
    1. supply collateral
    2. borrow tokens
    3. withdraw tokens
    4. repay loans

Functionality of Bloqboard Lending Wallet and API (for borrowers):

  • Borrow WETH, REP, ZRX, BAT, DAI instantly from a liquidity pool powered by Compound protocol
    • Repay and withdraw collateral instantly borrowed
  • Request peer-to-peer loans (WETH, REP, ZRX, BAT, DAI, SNT) with custom terms via Dharma protocol
    • Monitor peer-to-peer offers to lend with customizable filters
    • Repay peer-to-peer loans and withdraw collateral
  • Maintenance margin management for peer-to-peer and liquidity pool loans (coming soon)
  • Additional: web application with dashboards (current status, open positions, stats, etc.)

Functionality of Bloqboard Lending Wallet and API (for lenders):

  • Lend WETH, REP, ZRX, BAT, or DAI instantly to a liquidity pool powered by Compound protocol
  • Call back your loaned WETH, REP, ZRX, BAT, or DAI
  • Offer peer-to-peer loans (WETH, REP, ZRX, BAT, DAI, SNT) with custom terms via Dharma protocol
  • Monitor peer-to-peer offers to lend based with customized filters
  • Additional: web application with dashboards (current status, open positions, etc.).
  • More lending markets will be added as needed.

Feedback is very welcome. Please reach out to us at support@bloqboard.com.

Interested in learning more about Bloqboard? Check us out:

Bloqboard.com

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