Peanuts Finance | Dollar Cost Autocompounding for Da Normies

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Inspiration

Users who do not have time to keep up with the crypto market might find it hard to dollar cost average into a basket of cryptocurrencies. Existing solutions for dollar cost averaging while they allow users to purchase basket of cryptocurrencies, they do not allow users to easily earn interest on those cryptocurrencies.

What it does

Peanuts allows user to dollar cost average into a pool of cryptocurrencies and earn interest on those cryptocurrencies.

The user can choose to have their dollar cost average automatically compounded every day, weekly, or monthly.

On withdrawal, user can choose to withdraw their tokens either in the tokens of their strategy or in a stablecoin (USDC).

The idea is that users can enjoy the benefits of exposure to a basket of crypto of their choosing and at the same time earn interest on those cryptocurrencies in native USDC.

User Story

Lets say you got 1k usdc on ftm

• you put into this vault, and you can set a custom strategy for it
• every month or epoch the vault uses your money to purchase a basket of 3-5 tokens.
• The vault will then use the tokens to earn interest on the tokens and sells the interest into stable coin to replenish the vault.
• when you withdraw, you can choose to withdraw your share of tokens in the vault as USDC or in the blue-chip cryptocurrency

How we built it

Frontend: React, antd Backend: solidity

Challenges we ran into

Time haha

Accomplishments that we're proud of

Creating a decently looking product that functions for the most part

What we learned

How to interface with smart contracts

What's next for Peanuts Finance | Dollar Cost Autocompounding for Da Normies

Refining the strategy -> Deploying on testnet -> Deploying on mainnet

Built With

• react
• solidity