Chee Finance

hiCHEEs in the field
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Inspiration

There have been a few innovations when it comes to lending products in the DeFi space. Hence, we decided to create a money market to remove boundaries so as to support more types of collateral.

What it does

Chee Finance is an advanced cross-chain money market that supports FT / NFT collateral for all DeFi users.

How we built it

Our team created Chee Finance by heart and put every effort on it for more than 100 hours per week. Our priority is the security of the platform. Our priority is to find a way of providing passive income to users in a secure protocol.

Challenges we ran into

As a team, our most crucial challenge has been the project timeline. Some users in the community complained why it was taking us too long to launch the project. It is hard to keep the community calm, but we have managed to convince them that the project is massive and time-consuming, thus the need for patience. We are hosting weekly community calls to report what we have done and the stage we are at.

Accomplishments that we're proud of

We have had more than 20k borrow events on the Testnets combined, meaning we have community support, which we consider as the most significant accomplishment. Moreover, we have set up a price oracle guard that protects the protocol from flash loan attacks and provides price updates every 20 seconds — better than other oracle systems.

What we learned

The most important thing we have learned is that our main goal is to serve users. We have achieved this by removing most of the limitations in Chee Finance, and we are open to sharing this with other protocols so they can also offer a better lending service to their users.

What's next for Chee Finance

Although this is just the beginning of Chee Finance, we will make the platform more limitless and easy to use, and we will strive to constantly add value to CHEE tokens.