Collateralization: Users can deposit $EDU tokens into the lending protocol as collateral. This will secure the ability to borrow a variety of stable assets, such as USDT, enhancing liquidity for educational purposes.
Borrowing Mechanism: Once collateralized, users can take out loans in stable assets like USDT. This ensures that educational institutions, students, and researchers have access to reliable funds without being subject to the volatility of traditional cryptocurrencies.
Interest Rates and Terms: The protocol will offer competitive interest rates and flexible terms based on the collateral value and market conditions. This will help users manage their repayments effectively and incentivize participation.
Security and Transparency: Leveraging blockchain technology, the protocol ensures that all transactions and collateral management are transparent and secure. Smart contracts will govern loan agreements, minimizing risk and enhancing trust.
Educational Integration: The protocol will be designed to integrate seamlessly with educational platforms and institutions. This will facilitate direct use of borrowed funds for tuition, research, and other academic needs.
Governance and Upgrades: $EDU token holders will have governance rights, allowing them to vote on protocol upgrades and changes. This decentralized approach ensures that the protocol evolves in alignment with the community’s needs and priorities.
Demo Video
Special thanks for Hackquest for their kind support.