delivers P2P loans to underserved communities. We provide lower costs of borrowing by cutting out an expensive intermediary - the banks. We also help lenders by reducing default risk. A universal line-of-credit (ULoC) is calculated as a function of Bloom credit score AND our own lending history. This ULoC can never be exceeded, i.e. cannot borrow more money than the ULoC. We use homomorphic encryption lattices and FHE to ensure the integrity of the ULoC and secure multiparty computations.

In our marketplace, borrowers and lenders use Bloom protocol to login, conduct KYC, calculate credit scores ULoC, and process on-chain loans. The loan amounts are set in stablecoin DAI (to reduce volatility in expected returns), and smart contracts are issued using Dharma.

These smart contracts are regularly audited by quantstamp. And the repayment status of all loans can be actively monitored using Loanscan, so we are alerted when defaults occur. Anytime a borrower defaults, the lender can use Kyber protocol to liquidate that loan's collateral on-chain, and withdraw it into their wallet.

We are creating a P2P loan marketplace that is fully secure and more robust, by integrating different features from different applications. We follow the borrowers and lenders from the first step (loan origination) to the last step (repayment or default), and everything in between (matching and monitoring). By making the loan process easier and more secure, we can increase overall participation in P2P lending, creating positive social impact.

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