HackVerse-21-iQhackers

This app is the minor implementation of our understanding of Liquidity Mining. This is a Decentralised Finance Application that works similar to a bank, where basically a user can deposit cryptocurrency into the application and while it is deposited, the user will earn interest (Staking).

This app allows three functions:-

1. Stake tokens - The process of putting the tokens from the user account to stake balance.
2. Unstake tokens - The process of putting back the stake tokens back into the user account balance
3. Issue tokens - The process of putting crytpocurrency tokens in user account

In this application we have used real-world cryptocurrency, Dai(DAI), this is a stable cryptocurrency related to US dollars so the price remains consistent. This app allows users to deposit DAI and earn tokens.

Working

We cannot use tradional webste system for using cryptocurrency as there is a chance of improper fiddling with the crptocurrency balance by owner,i.e. there is a chance that the account balance can be changed maliciously. Hence the use of Ethereum Smart Contracts ensures such safety of account balance and cryptocurrencies.

1. Frontend - HTML,JavaScript(ReactJS),CSS (UI/UX of the app)
2. Smart Contracts - Blockchain, Ethereum, Solidity, Web3.js,Truffle (This allows us to stake token to applications and reward users new token for using app)

DeFi Demo Video

Video link here.

Team Members

Keerti Chaudhary (@keerti2001)
Shumbul Arifa (@shumbul)