Bitlend: dApp
Bitlend is a fast, low cost, decentralized lending platform native to the BitTorrent Chain. The protocol is permissionless, transparent, and non-custodial.
Lending & Borrowing
Users who want to become lenders can deposit their coins into DeFi protocol-based smart contracts. In return they will get newly minted tokens native to the protocol. These tokens represent principal and interest in token form that can be redeemed at any time. The rate of exchange between the native tokens and the tokens deposited embeds inside the APY (annual percentage yield) i.e. an interest rate determined by the ratio that exists between the supplied and borrowed tokens in a particular market.
The process is fully authorized by a third-party wallet such as Metamask, which meant that we had several cases to solve, such as enabling access to funds before the user could perform the transaction.
Markets
Interest rates for each market update on any block in which the ratio of borrowed assets to supplied assets in the market has changed. The amount interest rates are changed depends on the interest rate model smart contract implemented for the market, and the amount of change in the ratio of borrowed assets to supplied assets in the market.
History
Transaction history allows the user to analyze and control all transactions that took place with this protocol. In the case of Bitlend, we considered several types of transactions related to locking or withdrawing funds from the protocol.
Mobile
The entire app allows users to manage their assets from the mobile version, as long as the user has a wallet installed on the mobile device.
We can assume that the features highlighted in this case study are the minimum value you need to design to support DeFi's product dealing with lending and borrowing.
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See what Bitlend's brandbook looks like.
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