Inspiration
I have used the defi applications like inverse finance and know they work . I imagined if idle is integrated in these applications , the APY could increase dramatically and could have major impact in Defi
What it does
The application has vaults such as USDC-ETH vault. User deposits the underlying asset such as USDC. The vault is connected to the idle strategy and the assets are deposited into the idle pools and rewards are distributed to the user . The platform doesn't have to worry about the strategies as idle does this automatically
How we built it
We wrote the Smart contracts for vaults , idlestrat , the native token of the app. We deployed them to kovan testnet as idle uses Kovan as testnet. We are still in the process of developing the front-end but the smart contracts work
Challenges we ran into
There were many challenges. One of them was to actually connect the idle with vault contract and how the platform would work like rewards distribution etc.
Accomplishments that we're proud of
We got the smart contracts working and the vaults contracts are connected to idle strategy contract
What we learned
We learned about how idle works and how the vault could use the idle tech
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