DeFi Borrowing and Lending Application Deployed here

Introduction

This is a decentralized finance (DeFi) application for borrowing and lending digital assets. Built on top of Ethereum, the platform aims to provide users with a seamless and trustless borrowing and lending experience. Utilizing smart contracts, the application lets users deposit assets to earn interest or borrow assets for a specified period.

Features

Borrow digital assets
Lend digital assets to earn interest
Liquidation of unhealthy loans
Governance for updating system parameters

Prerequisites

Node.js v18.x.x or above
NPM as your package manager
MetaMask browser extension or similar Ethereum wallet
Hardhat Ethereum development environment
Solidity v0.8.x
Ethers.js for frontend integration

Quick Start

Clone the Repository

git clone https://github.com/D3xter1922/Web3Lending.git
cd Web3Lending

Navigate to the Project Directory
```
cd contrat
```
Install Dependencies
```
npm install
```
Compile Smart Contracts
```
npx hardhat compile
```
Go to contract/artifacts/contract and copy the ABIs of each contract, and paste them in client/App.js
Run Local Blockchain Network
```
npx hardhat node
```
This will start a local Ethereum network for development purposes. Keep this terminal window open.
Deploy Smart Contracts

Open a new terminal window and navigate to the project directory.
```
npx hardhat run scripts/deploy.js --network localhost
```
This will deploy your contracts to your local Ethereum network. Copy the addresses of each of these contracts from the console and paste in client/App.js
Connect MetaMask to Local Network

Open your MetaMask browser extension and add a custom RPC with the following details:
- Network Name: Hardhat
- RPC URL: http://localhost:8545
- Chain ID: 31337
Then, import the accounts provided by Hardhat into MetaMask to interact with the deployed contracts.
Run Frontend

From the root directory,
```
cd frontend
npm install
npm start
```
Now you should be able to interact with the DeFi borrowing and lending application through the frontend interface.

Documentation

Smart Contract Architecture
This contract enables users to lend, borrow, payback and withdraw CASH. For borrowing, the player must have enough GOLD in their wallet as a collateral. The rate of borrowing is fixed as 50% per day and the rate of lending is fixed as 10% per day. Maximum interest is capped at 50% of the principle amount for borrowing and 10% of the principle amount for lending.
Future works include:
1. Implementing default scenario
2. Implementing a dynamic interest rate system
3. Allowing more tokens to be borrowed or lent

License

This project is licensed under the MIT License - see the LICENSE.md file for details.

Disclaimer

This application is still in development and should not be used for handling real assets. Always exercise caution when interacting with smart contracts in a live environment.

For further questions or issues, please contact

D3xter1922 / Web3Lending