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By Huma
Bring Huma, one of the most sophisticated business lending protocols, to Soroban; projected to drive $1B+ transaction in 12 mos
Huma is an on-chain lending protocol that enables credit facilities to connect businesses with high-performing receivables to global capital. With the support of advanced features such as tranches, first loss cover, modular structured finance, fee manager, profit and loss manager, and 30/360 calendar, Huma V2 is one of the most sophisticated business lending protocols live today. Huma V2 contracts feature 6000+ lines of Solidity code. Besides the sophistication in its smart contracts, Huma also has advanced infrastructure for on-chain transparency and credit risk management. For different use cases, developers can build adapters for Decentralized Signal Portfolio and Evaluation Agent to leverage various on-chain and off-chain signals for credit underwriting and ongoing risk management. Our transparency layer allows businesses to present the life cycle of their receivables on-chain to give investors full visibility with the health of the underlying assets. (Note: the integration with Decentralized Signal Portfolio and Evaluation Agent will be covered in a separate award application in Phase 3.)
Arf is one of the most powerful use cases on the Huma platform. It provides on-demand liquidity to cross-border remittance financial institutions to free them from the heavy burden of pre-funding. Since loans originated by Arf have a very short duration of 1-6 days, Arf can turnover capital very quickly. With a facility of $16M, including capital support from SDF, Arf has achieved $1.3B+ on-chain transaction volume with zero default in the last 500 days and proved itself as one of the most exciting on-chain real world lending use cases (Dune dashboard). So far, Huma and Arf are live on EVM chains such as Polygon and Celo despite Stellar being a key liquidity provider to Arf. This project is to develop and launch Huma and Arf smart contracts on Stellar and Soroban. Since Arf can turnover capital 50 times a year, with borrowing and repayment transactions, the existing liquidity from Stellar and others will generate $1B transaction volume on Stellar and Soroban within 12 months after the project goes live. The project will not only massively improve Soroban's transaction volume, but also aligns with Stellar's vision extremely well.
Since Huma is a complicated protocol, given that Soroban is relatively new, it is expected for us to encounter feature gaps and hit limitations of Soroban infrastructure. We view giving feedback to the Soroban core team as one of the best ways for us to contribute to Soroban and the broader ecosystem. We have been in close contact with Jake Urban from SDF to document these gaps, explore workarounds or figure out a plan to build the missing pieces.
$50.0K
Richard Liu
No other submissions.