Dygnify protocol by Metropolitan Forex - On-chain SME lending

Project Name: Dygnify protocol
Project Track: DeFi
Team Name: Metropolitan Forex
Team Member(s): 3
Dorahacks Project Link: Dygnify Protocol | Buidls | DoraHacks
Project Website: https://dygnify.online
Smart Contract links: Github
Project Demo Video: Dygnify protocol - YouTube
Project Info: On-chain SME lending. Dygnify is a provider of decentralised credit infrastructure for connecting digital asset (crypto) investors to investment opportunities linked to SMB economic activity. We have implemented a use case of a Credit Fund as a borrower, who in turn is aggregating/lending to small businesses. We believe access to decentralized finance can help solve the financial inclusion problem sustainably by bringing the following benefits:

  1. For the borrowers –
    a. Tapping global digital asset liquidity bringing sustainable lower-cost solution for emerging market borrowers.
    b. Accessing Blockchain based on-chain borrowing, which is fast, secure and creates an immutable credit track record which can open the flood gates to capital.

  2. For the investors –
    a. Empowering any digital asset holder to become a lender, backing real-world economic activity.
    b. Stable, sustainable yields (10-25%) delinked from crypto volatility.

11 Likes

Welcome to Grand hackathon season 4, wishing you all the best :handshake:

8 Likes

You are welcome
Wishing you all the best :pray:

3 Likes

Bienvenido a este S4, el detalle de su producto me parece interesante, es importante que las empresas puedan tener otras alternativas a nivel de financiación, sin tener que pasar por las entidades financieras de siempre, es un buen paso.

4 Likes

Welcome to Season 4! Wishing you all the best :hand_with_index_finger_and_thumb_crossed:

6 Likes

It is encouraging to see that there are alternative financing options available for SME other than traditional financial institutions. Your project seems to be a great way to enhance this innovation but my question is: what strategy will you deploy to ensure that the borrowers pay up for what they borrowed?

4 Likes

Welcome to this hackathon 4, a project with an interesting approach. Luck

1 Like

Please will your project have learning tools for those that want to learn forex

5 Likes

Welcome to Hackathon 4! All the best!

5 Likes

Welcome to Season 4

How does the protocol’s algorithmic credit scoring system work, and how accurate is it in evaluating the creditworthiness of borrowers?

3 Likes

Hi @dygnifyprotocol Welcome to S4 Hackathon!

Had a few questions about Dygnify, was hoping for some insight from you:

  1. What are the challenges you anticipate facing as attempt to bring decentralized lending to small businesses?

  2. How do you plan to ensure that the yields offered to investors remain stable and sustainable over time?

3 Likes

Thank you @Nweke-nature1.com

3 Likes

You are highly welcome :handshake:

4 Likes

Nice project but how will funds be recovered

4 Likes

Thanks to you @Prince-Onscolo

5 Likes

always welcome
keep building

3 Likes

Thank you for considering our SME’s in this trying times. Can you come out with a USSD code for people who may have problem with internet connectivity?

3 Likes

Dygnify protocol officially has its own domain at https://dygnify.online, away from its parent company (https://metropolitanforex.com) subfolder/subdomain.

4 Likes

Decentralized lending platform. Thats nice. Will there be a collateral system, where borrowers will have to show prove of collateral to be able to borrow from your platform.

And what measures are you going to put in place to ensure investor’s are not losing their hard earned money over bad debts.

Do u plan to use an insurance system?? Thank you and wishing you all the best

4 Likes

Very nice, congratulations for achieving this great milestones

4 Likes