The AquaProtocol

The decentralized investment platform where potential customers can deposit assets in a fiat currency or a crypto currency and then invest on the art, papers or buy insurance.

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Note

The AquaProtocol is a project dedicated only to the Chainlink Virtual Hackathon 2021. And there is nothing to do with real projects with similar names.

Inspiration

Connection of the decentralized world with the Open Banking API as an investment platform for people who haven't had contact with blockchain.

The AquaProtocol is the decentralized investment platform where potential customers can deposit assets in a fiat currency or a cryptocurrency and then invest in the art, papers, or buy insurance. Purchases are possible in euro. For a money exchange between euro and national currency works the Chainlink oracle. During the fiat deposition is used the oracle with the Open Banking API. Smart contracts were installed in The Kovan Testnet. The Core of the protocol is inspired by the AAVE solution.

What it does

  • Easy access for a new potential customer to the blockchain world;
  • Fast and safe exchange between fiat to a cryptocurrency or a stable coin and revert;
  • Possibility of investment to a paper and art as the NFT;
  • Possibility of buying insurance.
  • The World State is recorded parallel in blockchain and a database - fast access to the recorded data.

How we built it

In React, GO, and Solidity as the microservice environment.

Challenges we ran into

Showing that GO is an extremely useful language for blockchain solutions. And the decentralized platform could be simple.

Accomplishments that we're proud of

  • The Oracle in GO for the smart contract with Open Banking API
  • Upgrade the AAVE protocol for Open Banking API as investment protocol

What we learned

How the Oracle process works.

What's next for AquaProtocol

  • Now the AquaProtocol smart contract interface has the possibility to implement all ERC 20, ERC 721 tokens, future plans assume implement another smart contracts interface.
  • Extension of the Open Banking API oracle on international payment.
  • Adding WebSocket in place of the Kovan Etherscan API for direct integration between blockchain events and Webpage.

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