Wider accessibility of automated P2P borrowing - Lenfi Software Development Kit (SDK)

[GENERAL] Name and surname of main applicant

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

Our solution is to develop the Lenfi SDK—a user-friendly tool that enables developers to easily create automated P2P borrowing transactions, enhancing accessibility and driving DeFi lending growth.

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”

No dependencies

[GENERAL] Will your project’s output/s be fully open source?

[GENERAL] Please provide here more information on the open source status of your project outputs

MIT license

[METADATA] Horizons

[SOLUTION] Please describe your proposed solution

We aim to develop the Lenfi Software Development Kit (SDK), a comprehensive tool designed to simplify the creation of automated peer-to-peer (P2P) borrowing transactions on the Cardano blockchain. We perceive the problem as a significant barrier for developers who want to engage with DeFi lending platforms but are hindered by the lack of accessible and user-friendly tools.

SDK will help developer to utilise the SDK for better DeFi iteropability.

[IMPACT] Please define the positive impact your project will have on the wider Cardano community

Firstly, it will make Lenfi more decentralized while reducing the risks of a single point of failure (app.aada.finance). Using the SDK will reduce barriers to entry dramatically, thus allowing any other entity to build transactions.

Additionally, it can be utilized by developers to perform automated actions such as arbitraging or yield generation.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

We have long experience of delivering actively used applications such as app.aada.finance, app.lenfi.io.

[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?

A: Created a public codebase and published on our public GitHub repository. This will be a source code of SDK that can be pulled and built locally. Built SDK will build Transaction bodies of these actions: Create loan request, Create debt request, Borrow, Deposit.

B: The deliverables for this milestone will enable developers and users to fully engage with the 2 core functionalities of our P2P lending and borrowing protocol. By the end of this milestone, the following states will be achieved as part of the acceptance criteria for successful delivery:

1. Lenfi SDK Users are able to pull the code and build an app.
2. Lenfi SDK Users are able to build and submit on-chain transactions to Create loan request, Create debt request, Borrow, Deposit.

C: Public github with the code base of code building transaction body of Create loan request, Create debt request, Borrow, Deposit.

Twitter post sharing Github and NPM link

A: Created a public codebase and published on our public GitHub repository. This will be a source code of SDK that can be pulled and built locally. Built SDK will build Transaction bodies of these actions: Repay, Liquidate, Claim Liquidated, Claim repaid.

B: The deliverables for this milestone will enable developers and users to fully engage with the 2 core functionalities of our P2P lending and borrowing protocol. By the end of this milestone, the following states will be achieved as part of the acceptance criteria for successful delivery:

1. Lenfi SDK Users are able to pull the code and build an app.
2. Lenfi SDK Users are able to build and submit on-chain transactions to Repay, Liquidate, Claim Liquidated, Claim repaid.

C: Public github with the code base of code building transaction body of Repay, Liquidate, Claim Liquidated, Claim repaid actions

Twitter post sharing Github and NPM link

A: SDK is fully ready and functional for users to use;

Final report to the community of Project Catalyst program completion.

B: NPM library published with version 1.0.1

Deno library published with version 1.0.1

Final report about Project Catalyst program completion has been announced to the community?

C: SDK publicly available on https://www.npmjs.com

Deno library available on https://deno.land/ 

Example transaction to perform all actions available on Github.

Link to Project Closeout Report

Link to Project Closeout Video.

[RESOURCES] Who is in the project team and what are their roles?

Mantas Andriuska is the co-founder and Aiken smart contract developers on the team. He has appeared in several YouTube and Twitter Space interviews regarding the launch and development of the Aada Finance V1 - the first peer-to-peer lending protocol on Cardano.

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources

Development : 250 hours

Average hourly rate: 262.4 ADA

Management and marketing: 40 hours

Average hourly rate: 122.4 ADA

[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

The Lenfi SDK will enhance the Cardano ecosystem by creating more efficient markets and boosting on-chain activities. By making it easier for other projects to integrate, it fosters a more interconnected and robust DeFi landscape. This attracts new users and developers, encouraging innovation and collaboration. The SDK serves as a foundational tool that empowers developers to build diverse and user-friendly applications, contributing to the overall growth of Cardano.