Astter.Fi

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Inspiration

We have seen that people are hesitant when it comes to making payments in crypto. It might be because of safety or sometimes because of unavailability. Some consumers also need things they need immediately. However, they don't want to foot the bill for something all at once because having some ready tokens handy can never be bad, and thus, prefer paying in installments. No such facilities are available when it comes to using crypto tokens.

What it does

Astter.Fi allows the daily users to pay in installments for transactions done in crypto. Almost similar to a credit card, Astter.Fi issues a credit limit and within that, a user can transact on third-party websites using gateways and APIs. The seller receives the payment directly from us while the user repays us the amount in 3 simple installments with 0 interest.

How we built it

Our platform is divided into two portions. The first one is the front end that we see. The front end of the application has been developed using HTML and CSS. We have javascript for styling and accessing window.ethereum. We have used web3.js in the front end to communicate with our smart contract. The second part of our application is the back end of the application. For the back end of the application, we have written the logic using solidity and have deployed those in the form of smart contracts. These smart contracts have used Chainlink price oracle for accurate pricing and obtaining the best price for MATIC/USDT pair.

Challenges we ran into

The major challenge that we faced during the development was calculating and managing numbers in solidity. Solidity as we know is not very smart when it comes to mathematics and handling decimal numbers was a challenge.

Accomplishments that we're proud of

Introducing a platform that could bring more users to transact in crypto tokens.

What we learned

Understood the working of Chainlink and its products.
Understood concepts of DeFi such as lending, repayments, interest rate and etc.
Learnt how to secure contracts and prevent those from being exploited.

What's next for Astter.Fi

Creating an API-based payment model where instead of integrating the gateway, payouts can be made using APIs and the data would be updated on the user's dashboard.
Creating a push notification service to provide timely reminders to the user's when it's time to repay.