Protolend

Protolend is a decentralized lending protocol that allows users to borrow and lend assets on top of Protokit framework.

Despite other protocols in the DeFi system, the liquidation will be triggered automatically by the sequencer and doing so, no actor should be incentivized to liquidate a position, preventing the manipolation of the market.

Features

Here are the main features of the Protolend protocol:

• Lending: Users can deposit MINA to borrow against it.
• Borrow: Users can borrow USDC using their collateral up until a max of 80% of lent amount.
• Repay: Users can repay their borrowed amount and unlock their collateral.
• Withdraw: Users can withdraw their collateral after repaying their borrowed amount.
• Interests: Users pay an interest rate of 1% on the borrowed amount, deduced automatically on each transaction (WIP). The position is liquidated automatically by the sequencer, right now we've implemented a lending-with-interest with runtimeModule checking of interest (here).

Implementation details

Protolend implements the Lending runtime module (you can find it here). Transaction hook is implemented in the TransactionInterestModule (you can find it here).

Testing

We have written tests for the Lending runtime module. You can find them here.

Screenshot

Quick start

The monorepo contains 1 package and 1 app:

• packages/chain contains everything related to your app-chain
• apps/web contains a demo UI that connects to your locally hosted app-chain sequencer

Prerequisites:

• Node.js v18
• pnpm
• nvm

If you're on windows, please use Docker until we find a more suitable solution to running the @proto-kit/cli. Run the following command and then proceed to "Running the sequencer & UI":

docker run -it --rm -p 3000:3000 -p 8080:8080 -v %cd%:/starter-kit -w /starter-kit gplane/pnpm:node18 bash

Setup

git clone https://github.com/proto-kit/starter-kit my-chain
cd my-chain

# ensures you have the right node.js version
nvm use
pnpm install

Running the sequencer & UI

# starts both UI and sequencer locally
pnpm dev

# starts UI only
pnpm dev -- --filter web
# starts sequencer only
pnpm dev -- --filter chain

Running tests

# run and watch tests for the `chain` package
pnpm run test --filter=chain -- --watchAll

Navigate to localhost:3000 to see the example UI, or to localhost:8080/graphql to see the GQL interface of the locally running sequencer.