Our Product:

‍With Pluto Loans, users can deposit yield-producing collateral and get a loan of their future yield immediately. No liquidation risks. The loan debt is time-based and self-repaying. Now we are working in new bussines model PlutoLoans B2B.

Soroban will augment PlutoLoans functionality by allowing:

1) Loan closure after it has ben self-paid without user intervention

2) Protect the users collateral capital in case of yUSDC loss of value by trading the collateral amount in the loan vault for a stable coin

The Problem:

• Argentina has an inflation rate of over 102,5% (https://tradingeconomics.com/argentina/inflation-cpi)
• The Argentinian peso has devalued 3,609% since 2012 (https://www.xe.com/currencycharts/?from=USD&to=ARS&view=10Y)
• Argentina has a ban on purchasing foreign currency, but not on cryptocurrencies (https://www.washingtonpost.com/politics/2019/09/06/argentina-just-reinstated-foreign-currency-restrictions-heres-what-you-need-know/)
• Personal loans in Argentinian pesos have an interest rate of >101% [6] (https://www.bbva.com.ar/tablas/tasaprestpers.pdf)

The Opportunity:

• Pluto is LATAM-focussed, with most of its core team members being based in Argentina, and with Argentina being its main country of operation.
• Users can make use of regional anchors to buy ARS issued on the stellar network (https://home.anclap.com/, https://anchors.stablex.org/) or use exchanges to buy XLM
• Users deposit yUSDC and get a loan of 50% of their collateral loaned out in pUSD
• pUSD is a token backed by the future yield generated by yUSDC, intended to trade 1:1 with yUSDC through various pegging mechanisms (https://ultrastellar.com/assets/yusdc)
• Self-repaying; A loan gets paid by the yield generated by the collateral of yUSDC, at the maturity of the loan, a user gets back their collateral and keeps their loan
• No risk of liquidation
• No early cancellation fees
• Build on top of other Stellar projects (Ultrastellar’s yUSDC), strengthening the ecosystem
  

We have met all the milestones that we committed to in SCF #10 where the community supported and gave us their vote of confidence.

. We finished and launched the product in beta version.

. We made demos with NON-CRYPTO users and got feedback.

. We work with members of the Stellar community to get feedback.

. We recruit people to the team

. We work on the feedback we get.

. We work on security using Auth0

. We began working with the community to evaluate integration possibilities (Beans, Anclap, Elsa Care, Komet Pay, Alfred pay, Xbull, etc.)

We have been working with the community and other entrepreneurs who helped us find a new path that will allow us to take PlutoLoans to another level. Our effort will be aimed at seeking new commercial agreements with other Stellar projects that already have users and want to offer personal loans without barriers. In this way we can together provide a better user experience and also provide them with more opportunities.

In order to achieve these new agreements, we must carry out several integration works that allow projects and users to access PlutoLoans loans in a simple, agile and secure way.

What we are working on:

We have been working with the community and other entrepreneurs who helped us find a new path that will allow us to take PlutoLoans to another level. Our effort will be aimed at seeking new commercial agreements with other Stellar projects that already have users and want to offer personal loans without barriers. In this way we can together provide a better user experience and also provide them with more opportunities.

In order to carry out PlutoLoans B2B, we must carry out several integration tasks that allow projects and users to access PlutoLoans loans in a simple, agile and secure way.

1. Develop an SDK that will allow all Stellar Wallets to integrate our product in a simple way, in addition to carrying out the necessary documentation, we will have a specific channel on DISCORD for any questions that may arise in it. Additionally, we have been working with the Wallets to define the necessary agreements for integration. (Attached "API SDF - WorkPlan.jpg")

2. Develop a NON-CRIPTO USER solution. Where users without knowing how PlutoLoans works can take a self-paid loan only by making a bank transfer. In order to carry out this operation, we are working on the integration with ANCLAP that will allow us to have our product available in Argentina, Colombia, Peru and soon in other countries in the region. We have started this work in February 2023, for which we have advanced with part of the plan. (Attached "ANCLAP integration - WorkPlan.jpg").

3. Develop smart contracts in SOROBAN that make the operation with PlutoLoans more secure. (Attached "SOROBAN - WorkPlan.jpg")

3.1. It would allow the collateral to be automatically returned once it reaches maturity. In this way, the user will be able to take the loan without the need to pre-cancel it and when it has been paid, only the collateral will be sent to the origin account.

3.2. PlutoLoans safeguards the collateral of the loans in YUSDC (https://ultrastellar.com/assets/yusdc) and as a security measure we want that in the event that the YUSDC loses parity with USDC, the YUSDC will automatically be exchanged for USDC without requiring intervention of the user.

4. Work together with legal teams in the countries where we will launch PlutoLoans in order to comply with local rules and regulations.

5. Develop a marketing strategy that allows us to scale the number of users in a sustainable way. Some of our pillars are:

. Loans guaranteed by us for education on Stellar

. Loans guaranteed by us for donation

. Secured loans in conjunction with Wallets for new Stellar users

With Pluto Loans, users can deposit yield-producing collateral and get a loan of their future yield immediately. No liquidation risks. The loan debt is time-based and self-repaying. Now we are working in new bussines model PlutoLoans B2B.

In order to carry out PlutoLoans B2B, we must carry out several integration tasks that allow projects and users to access PlutoLoans loans in a simple, agile and secure way.

API SDK Wallet

Develop an SDK that will allow all Stellar Wallets to integrate our product in a simple way, in addition to carrying out the necessary documentation, we will have a specific channel on DISCORD for any questions that may arise in it. Additionally, we have been working with the Wallets to define the necessary agreements for integration. (Attached "API SDF - WorkPlan.jpg”).The proposed objective of having the SDK working on May-14 is 100% resolved now we are working on the development of the demo for May-29. Additionally we are working on API SDK - Package Testing we are at 90% progress and today we have published an online module to see it.ANCLAP-Integration

Develop a NON-CRIPTO USER solution. Where users without knowing how PlutoLoans works can take a self-paid loan only by making a bank transfer. In order to carry out this operation, we are working on the integration with ANCLAP that will allow us to have our product available in Argentina, Colombia, Peru and soon in other countries in the region. We have started this work in February 2023, for which we have advanced with part of the plan. (Attached "ANCLAP integration - WorkPlan.jpg”).The proposed objective of having the workflows and the interface on May-14 we have completed it satisfactorily. In addition to this we have made progress with development and we are at 80% progress.

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How can a reviewer check you completed your first deliverable?

Anyone can check the progress on these points since everything is published online. Here I will detail in the best possible way about each of the deliverables how to do it.

API SDK Wallet

. Github https://github.com/PlutoDAO/loans-sdk

Here you can see the code made and all the information relevant to the development of the solution. Additionally you can find the readme to see the instructions to use it. https://github.com/PlutoDAO/loans-sdk/blob/main/README.md

. DEMO:

We are working to conclude with this demo it will be finished on May-29. Here I leave the first developed examples. https://plutodao.github.io/loans-sdk-demo/

. Discord Channel #wallet-integration

A discord channel so we can work together with the community and help them integrate our PlutoLoans B2B product into their wallets. https://discord.gg/TzWpFV5qwa

ANCLAP-Integration

. Swagger: Interaction with the anchor in testnet through the swagger endpoints.https://anclap-integration-zsfwc.ondigitalocean.app/swagger/index.html. Figma:   Prototype UX/UI.    https://www.figma.com/file/lLLKcUWLLyhFh0Til06Mta/Pluto-Anclap-Integration?type=design&node-id=0%3A1&t=I6rfIH04jbVhRTBm-1

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