Inspiration

Binance DEX is the biggest DEX out there right now and it is predicted to gain adoption in coming days and months. Binance and other upcoming exchanges like Kava are built on top of Cosmos-SDK, making the eco-system an ideal candidate for the Defi projects.

This project is directly inspired by Compound.finance but it has it's own ambitions, other than supporting native BEP-2 tokens via IBC, the project aims to operate on a slightly different economic model. Allowing any relayer to earn fee through the native token of the chain and also just about anyone would be able to create their own money markets on the platform.

What it does

Money Markets is an app-specific chain built on top of Cosmos SDK and Tendermint. It allows you to

  • Create a market
  • Supply Tokens to it
  • Borrow Tokens from it
  • View your debt position
  • View markets debt position

How I built it

I built it using Cosmos SDK.

Challenges I ran into

Float points came to bug here as well. Need to expand the logic to allow for fractional interest rates. Also need to refactor the json formatting to allow for block-times to be included so that the chain could calculate correct interest rates from the start time of the borrow position.

Accomplishments that I'm proud of

Learning and understanding Cosmos SDK and trying to port Compound on it in under 36 hours - and actually getting somewhere with is an achievement I am proud of!

What I learned

A lot about L1 blockchains, Cosmos, Compound

What's next for MoneyMarkets

Finishing up the project, re-writing the codebase including writing another module for fee structures and governance.

Built With

  • cosmos-sdk
  • go
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