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By Alula
Efficient lending protocol with a looping feature ensuring seamless service and reliable security for lenders and borrowers
JLending provides a secure lending and borrowing platform with looping functionality. Built on the Stellar network, JLending leverages its low transaction fees and fast settlement for seamless user experiences. By implementing over-collateralized loans, dynamic interest rates, and integrations with Stellar wallets and price oracles, JLending enhances the DeFi ecosystem on Stellar, offering accessible service to lenders, borrowers, and loopers.
Yes
$145.0K
Potential success criteria:
- Total value locked (TVL) indicates protocol liquidity and user trust.
- Liquidation efficiency monitors how quickly and effectively collateral is liquidated.
- User growth and retention tracks the number of active lenders and borrowers.
- Global accessibility expands financial access by enabling users worldwide to lend and borrow on Stellar.
We have a dedicated marketing team that will build a comprehensive marketing plan and will be in charge of running a campaign to attract liquidity.
Key customer segments:
1. Crypto whales on Stellar: Communications targeted at crypto whales holding XML and tokenized RWA.
2. Crypto whales on Solana: Bridging of JSOL (LST of JPool, a liquid staking platform on Solana) and targeted communications.
3. Asset managers and market makers on Stellar: Targeted communications.
4. Retail customers on Stellar: Targeted communications, including via fiat.
5. MoneyGram: Communication with the team to find out if they are interested in depositing liquidity for a short term.
Potential marketing channels/tools to be considered:
* Liquidity incentives: Offer short-term rewards for bootstrapping liquidity.
* Community engagement: Host AMAs, webinars, and educational content about DeFi on Stellar, leveraging existing communities on platforms like Discord, Telegram, and X (formerly Twitter).
* Strategic partnerships: Collaborate with prominent DeFi aggregators, analytics platforms, and yield-farming communities to list and showcase the protocol, ensuring broader visibility.
* Cross-promotion: Tap into our existing user base from other projects—such as those on Solana—and provide bridging incentives for users who bring their liquidity from other chains to Stellar.
As discussed with the Stellar team, the network has identified a strong need for a lending protocol with a looping feature to diversify and expand its DeFi ecosystem. JLending will add value for Stellar by introducing additional utilization for XLM tokens and creating new yield opportunities for liquidity providers, including the holders of tokenized real-world assets (RWA). Given that leveraged yield strategies currently secure substantial TVL on other blockchains—nearly $28B on Ethereum and about $2.5B on Solana (according to defillama.com)—it’s evident that an efficient, low-cost lending protocol could significantly benefit Stellar’s DeFi ecosystem.
Our team’s extensive experience in decentralized finance makes us well-positioned to build JLending. Our most prominent projects on Solana include:
* JPool: a liquid staking platform offering flexible staking options and a suite of powerful tools, with a TVL of ~1M SOL and a community of 30K+ users. Link: https://jpool.one/
* Smart Validator Toolkit (SVT): an all-in-one validator cockpit that automates the processes of bootstrapping and maintaining Solana nodes. SVT is designed for users—both crypto newbies and pros—who wish to be relieved of tedious bootstrapping and maintenance when running a node on the Solana network. Link: https://svt.one/
* Albus Protocol: a highly adaptable infrastructure for monetizable decentralized identities (DID), providing privacy and compliance tools for secure identity verification. Link: https://albus.finance/
Notes:
* In the social media fields, we have provided links to different social media accounts related to our team and products so you can have a better understanding of who we are and what we do.
* In the Other Chains field, we have indicated "Solana": we can use existing bridges to bring JSOL, JPool's LST, to Stellar.
# Tranche 1 -- MVP
**Brief description:**
Develop the JLending smart contract that integrates functionality for lending, looping, collateral management, interest rate calculations, and liquidation. Build the web application to enable basic user flows for lenders, borrowers, and loopers. Integrate the smart contract with decentralized price oracles for real-time collateral valuation.
**How to measure completion:**
* Deployment of the JLending smart contract in a local blockchain environment.
* Successful collateral validation using price oracle data.
* Web application enables lenders to deposit funds, borrowers to request loans, and loopers to implement looping strategies, with collateral locking and interest rate adjustments.
**Estimated date of completion:** 3 months from the start of the project.
**Budget before the start:** $40,000 in XLM.
**Budget upon completion:** $40,000 in XLM.
**Estimated budget breakdown:**
- UX/UI designer: $10,000.00
- Rust developer: $37,000.00
- Back-end developer: $16,000.00
- Front-end developer: $15,000.00
- DevOps engineer: $7,000.00
- Tester: $6,000.00
Total: $91,000.00
# Tranche 2 -- Testnet + Audit
**Brief description:**
Deploy the JLending smart contract on the Stellar testnet. Test end-to-end functionality for lending, borrowing, and looping. Finalize integrations with Stellar Ecosystem Proposals (SEPs). Audit the smart contract before deploying to mainnet.
**How to measure completion:**
* Deployment of the JLending smart contract on the Stellar testnet.
* Web application supports full lending, borrowing, and looping flows on the testnet.
* Completion of SEP integrations.
* Successful audit outcome.
**Estimated date of completion:** 2 month after MVP completion.
**Budget upon completion:** N/A (eligible for Stellar LaunchKit credits for audits and infrastructure).
**Estimated budget breakdown:**
- Rust developer: $6,000.00
- Back-end developer: $5,000.00
- Front-end developer: $2,000.00
- DevOps engineer: $7,000.00
- Tester: $6,000.00
Total: $26,000.00
# Tranche 3 -- Mainnet
**Brief description:**
Launch JLending on the Stellar mainnet with full functionality, including the secure and audited JLending smart contract, live integration with price oracles, and user-ready web application. Monitor key performance metrics to ensure operational stability.
**How to measure completion:**
* Deployment of the JLending smart contract on the Stellar mainnet.
* Public availability of the web application for lenders, borrowers, and loopers.
* Completion of smart contract audits and formal verifications.
**Estimated date of completion:** 1 month after testnet deployment.
**Budget upon completion:** $40,000 in XLM.
**Estimated budget breakdown:**
- Rust developer: $5,000.00
- Back-end developer : $5,000.00
- Front-end developer : $2,000.00
- DevOps engineer: $8,000.00
- Tester : $8,000.00
Total: $28,000.00
We are a dedicated team of 10+ professionals, including our co-founders Alexander Ray, Leonid Krassovitski, and Sonny Wolfson, who each have 20+ years of experience in IT and business. Alexander, Leonid, and Sonny have been friends and collaborators for over 25 years, working together on several projects, including JPool, SVT, and Albus Protocol.
Our team has built decentralized applications using Rust, Solidity, and TypeScript on networks such as Ethereum, Solana, Polkadot, and Cardano, and work with libraries like Web3.js and Ethers.js for blockchain integration. Our experience in cryptography includes implementing zero-knowledge proofs (zk-SNARKs, Plonk, Groth16), encryption methods (symmetric, asymmetric, FHE), digital signature schemes (EdDSA, ECDSA, Schnorr), secure hashing, key exchange protocols (DH, ECDH), and elliptic curve cryptography.
Team members (involvement is TBD):
Alexander Ray, Co-Founder, Strategy, https://www.linkedin.com/in/alex-a-ray/
Leonid Krassovitski, Co-Founder, Technology, https://www.linkedin.com/in/leonid-krassovitski/
Sonny Wolfson, Co-Founder, Business Development, https://www.linkedin.com/in/sonny-wolfson/
Lily Rovdych, Operations (full time), https://www.linkedin.com/in/lirovdych
Dmytro Kryshtal, Marketing (full time), https://www.linkedin.com/in/dmitry-kryshtal
Vlad Korniienko, Team Lead (full time), https://www.linkedin.com/in/tiamo/
Grigory Karpan, Developer (full time), n/a
Kirilo Morenkov, Developer (full time), https://www.linkedin.com/in/kirill-morenkov
Vladimir Koryagin, Technical Writer (full time), https://www.linkedin.com/in/vladimir-koryagin-223a5351
Anastasia Provalova, Graphic Designer (full time), n/a
Amir Shaikhenov, Content Writer (full time), https://www.linkedin.com/in/surer325
Vladimir
By Alula
JLending protocol on Stellar