International loans are often a pain to configure, with how the numerous intermediaries make the process more trouble than it’s worth. Enter DropLend, a cryptocurrency solution that will help you skip the fees in between and allow you to borrow money in a way that is faster and more secure than ever.
What it does
Droplend is a revolutionary money-lending service that puts instant cash within your reach, no matter where you are in the world. DropLend allows the users to spend their funds and cover urgent expenses without ever selling their XRP and incurring unnecessary taxes. Our solution leverages XRP’s which are conditionally-held escrows to create a fast and effective way to secure a loan without the requirement of credit score or history and eliminates all risk for us, the lender. This is made possible by using the user’s XRP as collateral. The borrower is able to return their payment through a flexible schedule and will receive their XRP back via the escrow once their cash loan has been paid back. In addition to our loaning services, DropLend also has a built-in AI consultant to provide financial advice and planning suggestions to the client making it a useful multi-purpose financial platform.
How we built it
- Front-end: NextJS, Bootstrap-React, CSS
- Back-end: Firebase, XRP API, Cohere API, Paypal API
- Design: Figma
Challenges we ran into
Accomplishments that we're proud of
The UI has a very clean look. The Front end software is working The XRP transactions is functional
What we learned
Paypal integrations are very complicated. Learned how to integrate paypal API for transactions
What's next for DropLend
Chat history function More account integrations Stock market integration