GoldLend: Unlocking Loans Backed by Real-World Assets

[GENERAL] Name and surname of main applicant

Sathvik Bavirisetty

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

Individual

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

8

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

No

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

GoldLend provides decentralized, transparent gold-backed loans using blockchain. With tokenized assets and smart contracts, it ensures tamper-proof, digitally signed loans with fair terms and low fees

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

Yes

[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.”

GoldLend relies on trusted gold custodians like Kinesis for secure gold storage and tokenization, blockchain oracles like Charli3 for real-time price feeds, smart contract auditors like Runtime Verification for security, and decentralized identity providers like Atala PRISM for KYC/AML compliance. These partnerships ensure transparency, security, and regulatory adherence in delivering decentralized, gold-backed loans

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

Yes

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

Yes, GoldLend will be fully open source. By making the project open source, we aim to ensure transparency, encourage collaboration within the Cardano community, and foster innovation. All smart contracts, algorithms, and platform code will be made available publicly, allowing developers to audit, contribute, and even build upon the platform. This open-source approach will not only enhance security through community scrutiny but also drive further improvements as the project evolves.

[METADATA] Horizons

Financial Services

[SOLUTION] Please describe your proposed solution

Problem Definition:

Traditional gold-backed loans are centralized, costly, and lack transparency. People in regions where gold is a primary asset often face high fees, limited access, and little control over their loans.

Solution Overview:

GoldLend is a decentralized platform on Cardano that provides transparent, low-cost gold-backed loans. By tokenizing gold and using smart contracts, we eliminate intermediaries, giving borrowers direct access to fair loan terms while securing assets through blockchain technology.

Approach:

We chose Cardano for its low fees and scalability, allowing us to offer more affordable and accessible loans than traditional institutions. Decentralization and transparency are at the heart of GoldLend, ensuring fair valuations and secure transactions without intermediaries.

Target Audience:

• Borrowers: Individuals and small businesses, especially in unbanked regions.
• Lenders: Investors seeking low-risk, gold-backed lending.
• DeFi Users: Crypto enthusiasts using real-world assets.

Proof of Impact:

• Quantitative: Number of loans issued, value of tokenized gold, user growth, and repayment rates.
• Qualitative: Feedback on platform transparency, ease of access, and fairness.

Unique Value Proposition:

GoldLend is one of the first platforms on Cardano to offer decentralized loans backed by real-world assets like gold, providing transparency, security, and financial inclusion for underserved regions.

Importance to Cardano:

GoldLend expands Cardano’s DeFi ecosystem by integrating real-world assets, attracting new users, and advancing financial inclusion through secure, accessible services.

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

GoldLend will introduce real-world assets, like gold, into Cardano’s ecosystem, expanding DeFi capabilities and attracting users from both traditional finance and underserved regions. This aligns with Cardano’s mission of promoting financial inclusion by offering decentralized, low-cost loans.

Measuring Impact

Quantitative:

• Number of loans issued.
• Total value of tokenized gold.
• User growth, especially from underserved regions.
• Loan repayment rates.

Qualitative:

• User feedback on transparency, ease of use, and fairness.

Open Source: Code and smart contracts will be open for community use and auditing.

Community Updates: Regular progress reports via Cardano forums and social media.

Educational Materials: Tutorials and guides on using decentralized gold-backed loans.

GoldLend will drive the adoption of real-world assets, promote financial inclusion, and expand Cardano’s DeFi ecosystem. With measurable impact and open community engagement, it will play a key role in showcasing Cardano’s potential.

[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 are fully committed to delivering GoldLend with high levels of trust, transparency, and accountability. Our team of experienced developers, blockchain specialists, and financial experts has a proven track record in building decentralized applications (dApps), particularly in the DeFi space. We’ve already developed prototypes for key components, including smart contracts for gold-backed loans and tokenization of physical gold on the Cardano blockchain. Additionally, we’ve partnered with trusted gold custodians to ensure secure storage and management of physical assets.

To validate feasibility, we are leveraging Cardano’s Plutus smart contract platform and integrating Charli3 as our decentralized oracle for real-time gold price feeds. This ensures fair valuations of users' assets. Before launch, we plan to have our smart contracts audited by Runtime Verification to guarantee security and reliability. We’ve also assessed the platform’s financial viability based on Cardano’s low-fee structure, making it affordable for users, especially in underserved regions.

Our open-source commitment ensures that all code and smart contracts will be auditable by the Cardano community, further reinforcing trust. We will manage funds responsibly, providing a detailed budget, allocating funds based on milestones, and issuing regular progress updates and financial reports. Independent audits will verify that funds are being properly managed and the platform remains secure.

In summary, our team has the technical expertise, strategic partnerships, and transparent processes to deliver GoldLend successfully and in alignment with the Cardano community’s values.

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

Research and Feasibility Study

A. Milestone Outputs:

• Detailed research on existing gold-backed loan systems and blockchain solutions.
• Confirmation that Cardano can handle tokenized gold and loan processes.

B. Acceptance Criteria:

• Research findings highlight gaps and opportunities for GoldLend.
• Technical validation of Cardano’s infrastructure for tokenization.

C. Evidence of Milestone Completion:

• Research report.
• Document showing Cardano’s technical validation.

System Design and UI/UX Development

A. Milestone Outputs:

• Completed system architecture for smart contracts and tokenization.
• UI/UX designs for web and mobile platforms.
• User flow diagrams for the loan application, tokenization, and repayment processes.

B. Acceptance Criteria:

• System architecture includes all components, from tokenization to loan management.
• UI/UX is easy to navigate for end users, focusing on simplicity.
• User flows are clear and actionable for all main processes.

C. Evidence of Milestone Completion:

• Architecture and flow documentation.
• Final UI/UX designs (Figma or similar).
• User flow diagrams in a presentable format.

Smart Contract Development and Tokenization System

A. Milestone Outputs:

• Smart contracts for gold tokenization, loan issuance, and repayment.
• Integration with Charli3 oracle for real-time gold prices.
• Smart contracts deployed on the Cardano testnet for initial testing.

B. Acceptance Criteria:

• Contracts function properly, handling gold-backed loans and repayments.
• Real-time pricing from Charli3 works in sync with the contracts.
• Testnet deployment runs without major issues.

C. Evidence of Milestone Completion:

• GitHub repositories with code and testing documentation.
• Logs or screenshots showing successful contract tests on the testnet.
• Working integration with Charli3 showing correct price data.

Backend and Frontend Integration

A. Milestone Outputs:

• Fully integrated backend for managing loans, users, and gold tokens.
• Frontend functionality for user interaction, including loan application and repayments.
• KYC/AML integration through Atala PRISM.

B. Acceptance Criteria:

• Backend can securely manage user data and loan transactions.
• Frontend is functional and offers smooth interaction between users and the blockchain.
• KYC processes work smoothly with Atala PRISM integration.

C. Evidence of Milestone Completion:

• Backend and frontend code on GitHub.
• Screenshots or a video demo showing the working platform.
• Logs showing successful KYC checks via Atala PRISM.

Testing, Security Audits, and Final Launch

A. Milestone Outputs:

• Complete system testing, covering contracts, backend, and UI.
• Independent security audit by Runtime Verification or similar.
• Launch of the platform on the Cardano mainnet.

B. Acceptance Criteria:

• Platform passes all stress tests and bug fixes.
• Security audit shows no critical issues.
• Successful launch on Cardano mainnet with full functionality.

C. Evidence of Milestone Completion:

• Test reports detailing test cases and results.
• Official audit report with issues addressed.
• Mainnet launch logs and public announcement.

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

Sathvik Bavirisetty - Lead Developer, Block chain solutions architect

Looking to hire ui/ux designer and marketing freelancers who are expert in their domain

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

Research and Feasibility Study

• Cost: 5,000 ADA
• Includes:
• Market research on gold-backed loans.

System Design and UI/UX Development

• Cost: 12,000 ADA
• Includes:
• Designing the system architecture.
• UI/UX design for web and mobile platforms.
• Prototyping and user flow design.

Smart Contract Development and Tokenization

• Cost: 25,000 ADA
• Includes:
• Developing smart contracts for gold-backed loans.
• Integration with Charli3 for real-time gold price feeds.
• Testing contracts on Cardano testnet.
• Initial code audit.

Backend and Frontend Integration

• Cost: 20,000 ADA
• Includes:
• Backend for managing loans, tokens, and user data.
• Frontend integration for users to interact with the platform.
• KYC/AML integration with Atala PRISM.

Testing, Audits, and Launch

• Cost: 18,000 ADA
• Includes:
• Full platform testing (smart contracts, UI, backend).
• Security audit by Runtime Verification.
• Mainnet launch on Cardano.
• Marketing and user onboarding.

Project Management and Reporting

• Cost: 10,000 ADA
• Includes:
• Ongoing project management.
• Monthly progress reports.
• Community engagement and updates.

Marketing and Education

• Cost: 5,000 ADA
• Includes:
• Creating tutorials and guides for users.
• Marketing campaigns to attract borrowers and lenders.

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

The majority of the budget goes toward essential development costs, such as smart contract creation and platform integration, which align with standard blockchain developer rates. A portion is allocated for critical services like security audits, oracle integration for real-time gold pricing, and KYC/AML compliance through Atala PRISM. These elements are necessary to ensure the platform’s security, transparency, and trustworthiness.

The budget also covers marketing and community engagement, ensuring the platform gains traction and that the Cardano community is regularly informed of progress. Post-launch, funds will support educational resources and marketing campaigns to onboard users and lenders effectively.

Building on Cardano’s scalable, low-fee infrastructure makes the project cost-efficient compared to traditional finance solutions. Additionally, by making the platform open-source, GoldLend provides long-term value to the broader Cardano ecosystem, as the community can reuse and build upon the platform.

In summary, the 95,000 ADA budget represents good value for money by developing a secure, scalable, and open-source platform that enhances Cardano’s DeFi ecosystem and supports financial inclusion.