Loki - $3000 - ETHOnline 2022
- Loki protocol gives the opportunity to obtain loans through social media, enabling the power of communities. The two main actors are the borrowers and the lenders. For the firsts, the advantage is that they can obtain funds using the power of their community through Lenster, without the deposit of collateral. For the seconds, instead, the benefit is that they can earn a double interest thanks to the use of credit delegation, one from the borrower through a stream on superfluid and one from Aave. The process can be splitted in 6 steps: Step 1: the borrower goes to Loki website and generate the loan Step 2: the borrower posts the loan on Lenster Step 3: the lender collects the post on Lenster and through this finance the loan Step 4: Aave credit delegation is actioned, enabling a double interest yield Step 5: Superfluid starts to stream the interest of the loan to the lender Step 6: Loki smart contracts sends finally the funds to the borrower