Trinity Protocol

Inspiration

Basically the first question is to to wonder why fixed rates in needed in DeFi? In 2021, JP Morgan released the numbers which are fixed income assets is the staggering 127 trillion , one of the largest of the asset class in the world, as compared to the whole crypto market which is lingering around 1.2 trillion. Trinity Protocol is found to onboard traditional finance in DeFi as we believe in DEFI and here to build starting with traditional fixed bonds and DEFI concepts.

Pitch Deck : https://drive.google.com/file/d/1-EH0gw-uyZmzhXxlWEdscisfutn_Kxy9/view

What it does

Build stronger fixed interest portfolios with Trinity protocol. So to make it easier to understand , Trinity protocol offers its investors a fixed bond is like a debt that is issued for example by a corporation and in Trinity protocol will issue a coupon(NFT), so instead of making periodic payments, there will be only a sole payment at maturity date.

How it works

Connect your Metamask wallet on Trinity Protocol website
Mint a USDC Bond NFT on Mint Page.
Bonds are tradable ; the last holder of the bond can Redeem Bond with promised interest after Maturity.

How we built it

In addition to the smart contract deployed on Ethereum(Kovan Testnet) , We believe this is a good project because the tech stack we worked with lay the foundation for many other types of applications on this stack – dealing with things like minting, withdraw, interest rate calculation, and transfers of ownership on the contract level as well as how a client-side application would use this smart contract to build a intuitive front end with ReactJS, . Off-chain Instead of storing the nft metadata on the contract, only the ipfs hash on the contract will be saved and then we can use the unique hash for retrieve of data.

Challenges we ran into

There were some challenges when it came to integrating with the smart contracts. Also with additional constraints of tight timeframe, given the constraints of budgets and timelines. The team set realistic deadlines and clear expectations from the start. Furthermore, larger tasks were broken down into smaller chunks to make it more manageable . also leaving time for software testing and bug fixes.

What we learned

Blockchain might just change everything from its application in finance to insurance to gaming. Innovations in the web3 space move at fast pace- by the time one start foreseeing of a concept, someone probably has already started working on it. With new technology and technical standards, the team has to embrace uncertainties. This is perhaps just like the early days of the web1/2 part where the technology evolution is shaping up. All of us have an opportunity to set an industry standard, which also allows the team to read, study, and practice a lot.