Stellar Community Fund

By AssetDesk

AssetDesk

SCF #19

$70.0K

Legacy v4.0 Award

Awarded

AssetDesk on Soroban is a decentralized non-custodial liquidity protocol where users can participate as depositors or borrowers.

Products & Services

AssetDesk on Soroban is a decentralized non-custodial liquidity protocol where users can participate as depositors or borrowers and utilize margin and limit positions inside the protocol. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralized (perpetually) or undercollateralized (one-block liquidity) fashion.

Product Roadmap:

Version 1: Basic lending and borrowing function: A decentralized non-custodial liquidity protocol where users can participate as depositors or borrowers. Depositors provide liquidity to the market to earn a passive income, while borrowers are able to borrow in an overcollateralized (perpetually) fashion.

Margin positions: Effectively portfolio + global margining margin account: user can deposit to a subaccount owned by the contract but belongs to the user. The user can create positions and orders from the subaccount that’s immediately counted as collateral.

Flash loans.

Stable coins markets: The Stablecoins markets feature maximizes capital efficiency when collateral and borrowed assets have correlated prices. For example, DAI, USDC, USDT are all stablecoins pegged to USD. These stablecoins are all within the same category. Accordingly, a user supplying DAI in this category will have higher collateralization power when borrowing assets like USDC or USDT.

Collateral switch: The Collateral switch feature allows the user to switch supplied liquidity in one asset type to another asset type without a separate withdrawal and supply transaction (for example switching USDC to DAI in a single transaction).

Version 2: V2 Permissionless lending/collateral assets. Achieved by having an ecosystem of locked bids for a fixed time period. User also effectively have debt limits. User should utilize deposited stables to bid so that locked bids can earn yield.

Governance Isolation Mode: Isolation mode allows Governance to list new assets as isolated assets, which have a specific debt ceiling. Only certain assets can be borrowed in isolation mode – specifically, approved stablecoins. In order for an asset to become approved for borrowing, assets are voted on by Governance through the forum. Each isolated asset will have a specific debt ceiling, which means that it is only possible to borrow up to the specified debt ceiling amount. The debt ceiling is visible on the reserves page of each asset.