Lend AI

Videos

Tech Stack

React

Solidity

Ethers

Tailwind

Typescript

Description

Overview

LendAI is a decentralized lending platform built on the Pharos blockchain, leveraging AI to assess credit risk and Pharos’ native restaking for enhanced yields. It enables users to borrow USDC using wBTC/wETH as collateral, while lenders deposit USDC to earn interest and restaking rewards.

Opportunity with LendAI

LendAI tackles these issues by introducing AI-driven credit scoring, dynamically adjusting collateral requirements based on on-chain behavior (e.g., 120% collateral for scores ≥700). Lenders benefit from Pharos’ restaking, boosting their APY with secure, native mechanisms. This makes lending more inclusive and profitable, aligning with Pharos’ mission to bridge TradFi and DeFi.

Key Features

AI Credit Scoring: Calculates scores using transaction history and PHAR balance.
Dynamic Collateral: Adjusts requirements (e.g., 120% for high scores, 200% for low).
Restaking Rewards: Lenders earn extra yield via Pharos’ native restaking of collateral.
User-Friendly Interface: A React-based dApp for depositing, borrowing, and managing loans.
Pharos Integration: Leverages Pharos’ high throughput and subsecond finality for fast transactions.

Upcoming Features

Multi-asset support beyond wBTC/wETH (e.g., DAI, LINK).
Advanced AI models for more granular credit scoring.
Mobile app for broader accessibility.
Integration with Pharos’ real-world asset tokenization for TradFi-DeFi synergy.

Highlight
LendAI showcases Pharos’ unique capabilities, like native restaking and high-performance infrastructure, to create a lending solution that’s both efficient and secure. By introducing credit scoring, it supports Pharos’ goal of integrating real-world financial systems into DeFi, paving the way for broader adoption and innovation.

Progress During Hackathon

Our hackathon journey to build LendAI’s MVP had its challenges, but we pushed through with practical solutions. Here’s how it went: - Gas-Heavy AI Logic: Our initial on-chain credit scoring in Solidity consumed too much gas, causing failed transactions. We simplified the formula and moved some logic off-chain for the MVP to keep costs down. - Pharos Testnet Hiccups: Deploying contracts failed due to version mismatches. After late-night debugging with Hardhat logs, we synced our local node to resolve the issue. Despite these hurdles, we delivered a working prototype (eg. working deposit flow with wBTC on Pharos testnet) and a user-friendly interface, learning to balance ambition with time constraints.

Fundraising Status

LendAI has been bootstrapped so far, with our team dedicating time to craft a proof of concept within our local community. After building a solid MVP and validating it in our circle, we’re confident in its potential for a pilot-scale rollout with key stakeholders. To bring this vision to life, we’re now raising an estimated $84,000 USD. This funding will drive impactful implementation, allocated as follows: (i) Smart Contract Enhancement: $30,000 to refine, audit, and deploy secure contracts on Pharos; (ii) AI Optimization: $30,000 to fine-tune credit scoring for accuracy and efficiency; (iii) Pilot Testing on Pharos: $10,000 for infrastructure, tokens, and stakeholder testing; (iv) Operational Support: $9,000 to cover tools, collaboration, and team efforts; (v) Frontend + UI/UX Expansion: $5,000 to elevate the React dApp with seamless UI/UX for broader adoption. Join us in shaping the future of DeFi and delivery real value on Pharos Ecosystem!