RentFi - One Stop House RWA Rental Financial Platform

Overview

Welcome to RentFi, a cutting-edge platform that redefines the rental experience on Kii Chain. As students who've encountered the challenges of renting firsthand, we've designed RentFi to be the ultimate solution where landlords can list properties and tenants can easily find their next home. Powered by smart contracts, RentFi automates everything from payments to guarantees, ensuring a seamless rental journey.

What Sets RentFi Apart?

RentFi goes beyond traditional renting by integrating DeFi and NFT technologies. Deposits secured in smart contracts aren't left idle; they earn interest through DeFi lending protocols like AAVE, benefiting tenants. For landlords, RentFi introduces a novel investment opportunity by allowing them to mint rent cash flows as NFTs, which can then be traded on the NFT marketplace.

Chainlink Integration

Chainlink's oracle services are integral to our platform, providing real-time, reliable market data. These oracles enable accurate pricing of rent-based NFTs using the Discounted Cash Flow (DCF) method, ensuring transparency and fairness while enhancing security and trust.

Inspiration

The idea for RentFi was born out of personal experience. When we arrived in Hong Kong for a master's degree, we struggled to secure housing without financial proof. After facing unfair treatment and losing deposits, we were inspired to create RentFi using our knowledge of web3 and smart contracts to help others avoid similar challenges.

Platform Mechanics

RentFi isn't just a rental platform; it's a financial ecosystem. Leveraging Chainlink's oracles, we ensure accurate application of the DCF method, offering fair, market-reflective pricing for rental agreements treated as bonds. This innovation empowers new immigrants and students without financial history, while providing landlords and investors with cutting-edge financial tools.

Development Journey

Built on Kii Chain using Scaffold-eth2 and developed with Next.js, RentFi's deployment is streamlined through Vercel. We've overcome challenges such as implementing floating-point computations on the blockchain, using PRBMath libraries adopted from DeFi protocols.

Challenges & Solutions

• DCF Implementation: We've harnessed the full potential of smart contracts to implement the DCF method.
• DeFi Lending Integration: Integrating AAVE lending protocols was made smoother with Chainlink oracles.

Achievements

• Successfully merged DeFi, NFT, and rental logic into a cohesive business model.
• Utilized rental deposits in DeFi lending to benefit tenants.
• Created a mechanism to transform rent cash flows into NFTs, offering innovative financing options.

Key Learnings

• Gained a deep understanding of DeFi, NFTs, and oracle services.
• Acquired practical experience in development and CI/CD.

Future Vision

• Enhance smart contract functionality for fully automated lease management.
• Refine the platform to balance the interests of landlords, tenants, and investors.
• Move towards real-world implementation, turning RentFi into a comprehensive rental solution.

Built With

• Kii Chain
• Hardhat
• Next.js
• React
• Remix
• Scaffold-eth2
• Solidity
• Vercel

Application to Kii Chain Hackathon

RentFi is proudly built on Kii Chain and we are applying to Track 2: DeFi. Our platform fits into multiple categories within this track:

• Lending and Borrowing (B)
• Disruptive DeFi Apps (A)
• DEX (A)
• https://app.kiiglobal.io/kiichain/account/0xb42f6f8e531cAEB940E2d3B35090367a09CD1BEF
• https://app.kiiglobal.io/kiichain/tx/0xe0512a1d9c8da1508ae2f65cfed01638621f74284fcec5a5b3ead3b899fcab41

We believe RentFi has the potential to revolutionize the rental market by merging the worlds of real estate, DeFi, and NFTs on Kii Chain.