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DeFiner Exchange To Compound Investment
Inspiration
DeFiner has been building a one-stop investment platform. Kyber has been used as a utility tool to help users to swap tokens for investment. We want to further extend the user experience to integrate Kyber with easy investment using Compound investment platform. We want to integrate Kyber, Compound and DeFiner Saving Pool as a one-click user experience.
What it does
In this hackathon project, we build out a streamline automatic workflow. The flow allows user to deposit any token or Ether supported by Kyber into mint Compound cDai, thus start to earn compound interest in one click!
How I built it
I built on the DeFiner investment platform Trade Exchange page. The pages would call Kyber API to convert any supported tokens to DAI. We then call Compound contract interface mint() to exchange the DAI with cDAI.
Challenges I ran into
Compound API is not intuitive on withdrawing DAI out of Compound account. All calls are successful but DAI and cDAI was not exchanged during withdrawing.
Accomplishments that I'm proud of
Due to the difficulty I encountered, we ended up having to rely on user to go to compound app site to withdraw the original token. This is acceptable since this is only when user want to cash out. The investment step though has been dramatically improved from many clicked to one click!
What I learned
The power of exchange to any token using Kyber create all the possible integration with different Ethereum dApp. Compound is only a start, there are unlimited options to integrate to provide great user experience.
What's next for DeFiner Earn Flow
DeFiner Earn Flow will continue to be improved and enhance to be the integral part of DeFiner investment platform. It will be further enhanced to DeFiner's new release Saving Pool to complete the user flow.
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