Most of us invest in cryptos either through DEX or CEX, but there is no proper way to manage your investment goals. The idea here is to create an investment platform, where users can invest in multiple crypto tokens and staking pools at once in lump sum or SIP. First, the user has to create an Investment Account to seamlessly make investments. This account will be secured with a randomly generated NFT by using Chainlink VRF. Only the owner of that NFT can access this account. Now, users will be creating an Investment Basket for their investment goal by selecting investing ERC20 token which he/she wants to invest in and by selecting the numbers of ERC20 tokens he/she wants to invest in. After creating an investment basket you can start investing a lump sum amount or start a SIP.
What it does
Coinvest provides you with a simple way to manage your investments according to your goals. Whenever you invest an amount into the basket, the basket will split that amount equally for every token and buy tokens from uniswap. Every token bought from uniswap gets stored in your investing account which is protected by a randomly generated NFT.
How we built it
We are currently testing it on Polygon Mumbai testnet. For the analytics data we are using The Graph Portocol.
Challenges we ran into
We ran into liquidity issues while trying to work with Uniswap.****
Accomplishments that we're proud of
We were able to build a prototype that allows users to create an Investment basket and add investing tokens to it, and users can invest the lumpsum amount or start SIP.
What we learned
While building this app we have learned new things about chainlink and defi.
What's next for Coinvest
Right now we are facing some issues while investing an amount into the basket, our next plan is to remove all possible bugs and We also want to add support for staking pools as well.
Entirely rebuilt from the ground up, Now it has a new frontend, new Off-chain backend, and baskets are now off-chain and can be made without a gas fee.