Inspiration
As blockchain technology has gained traction in the financial sector, its decentralisation has been further enhanced, ushering in a new era of DeFi. More complex financial products have been created thanks to DeFi's efforts.
What it does
With MultiFi, lenders may put the mTokens (equal to cTokens in Compound) they get on their deposits to use as a kind of collateral for loans. Locking the mTokens of the lenders will ensure that they can't withdraw the comparable deposits, providing more liquidity and improving the TVL, which will benefit both lenders and borrowers.
How we built it
Reactjs, web3, and Material UI have been used exclusively on the front end. Solidity plays main role for building smart contracts , chainlink and polygon are used to connect the model to the blockchain.
Challenges we ran into
Accomplishments that we're proud of
Made a platform to exchange and stake the mTokens (equivalent to cTokens in Compound) for both lenders and borrowers using Blockchain Technology.
What we learned
Another step into the world of blockchain with a focus on real-life applications. It was also my first time working with polygons, so it was a great opportunity to learn new technologies so early in my career.
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