MintDeals - Transforming Club Memberships and Deals with DeFi-Driven Credit Access

TRON Hackathon Hackathon Season 7
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Casted my vote for credit facility

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Thanks for pointing out the factors that can lead to applying boost factors on clubs. I will like your clarity on this:

  1. Can clubs that consistently perform well receive other rewards besides boost factors?
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No, not in the current MVP implementation. Borrowing capacity for a well performing club will increase solely based on their credit score + boost factor and relational to the max capacity of the shared pool.

Since the MintDeals is based on providing a novel way to build and access credit through clubs and deals, specific rewards geared to club owners were not directly considered.

However, we’re open to hear and explore ideas on how we can sustainably reward club owners :smiley:

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I have vote in the poll

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Hey all, now that the submission period has ended, here are some interesting insights and features about MintDeals at the contract level that we didn’t make visible on the MVP UI:

  1. It is possible to borrow USDD and/or USDT from the Credit Facility(basic+shared). For essential simplicity, we show only USDT on the Access Credit UI. Many are already familiar with and will want USDT anyway. Other parts of the UI shows clear support for both options for payments.

  2. The Credit Facility itself can support any token that JustLend supports via admin configuration but allows only stablecoins to be borrowed. Non stablecoins are used as backing collateral.

  3. A user can own NFT deals without being a member of a club. This can happen if a user transfers the NFT to another either for free or via resale on a third party NFT marketplace. That new owner can then redeem that DEAL on our platform.

  4. There is a configurable max mint per user that a club owner can set to limit mints of a deal per club member. This extra field is not on UI and is set to 5 as default when a deal is created by a Club owner from UI. Later this can be made visible for setting other values.

  5. It is possible for a club owner to choose to redirect 80% of their incoming club membership fees to their own wallets instead of sending to the credit facility to power their basic credit. This option was not visible on the UI.

  6. MintDeals was built modularly such that, if the Club+Deals product component do not gain enough traction, then the credit facility can be reused in other contexts. For instance we could create custom credit managers for new use cases, possibly as a novel shared credit micro-SaaS for other projects.

That’s it for now :smile:


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Done , I like the credit facility

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Great insight keep it up, keep building :muscle:

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Hey everyone, here’s some technical highlights about MintDeals (for anyone that’s interested):

  1. Token Decimals: Integrating USDT (6 decimals), USDD (18 decimals), and BTC (8 decimals) into one contract was a bit tricky. We had to normalize everything to 18 decimals for precise calculations and valuations while keeping each token’s unique decimal setup intact.

  2. Unified Collateral: We’ve leveraged JustLend’s jTokens (cTokens) within the Credit Facility, creating a unified collateral base that powers the entire system. By bringing JustLend’s end user capabilities into a contract account, we’ve extended its functionality, unlocking new use case possibilities. This integration demonstrates how MintDeals enhances JustLend, offering small businesses access to shared, growing on-chain credit in a streamlined and efficient way.

  3. Mock Contracts for Testing: Since there was no JustLend instance available on the Nile testnet, we had to create mock contracts that replicated JustLend’s functionality. This allowed us to simulate the behavior of jTokens and our credit system, ensuring the integration would work seamlessly once deployed to Mainnet. (#wehope)

  4. Simplified Swap: Initially, we had a function that integrated with Sunswap’s Smart Router in the early Club Deal Registry, but due to seeing high Mainnet fees during “meme season” and its added complexity, we removed it to simplify things. Instead, admins can manually or auto(via script), call the [swapViaEx] function to withdraw and swap the relevant stablecoins into BTC via HTX CEX or elsewhere and supply the Credit Facility on behalf of the Credit Manager.

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Hello @wescosmic , while trying to create a new deal as a bussines owner I’m facing this error:

Error saving deal: TypeError: Cannot read properties of undefined (reading 'url')
    at L (page-55f6e08ce0eb0b62.js:1:4595)

I choose a picture and just input the following:

image
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I’m I missing something?

Additional to this , would you please point to the implemented justlend contracts you are interacting with based on this list: JustLend DAO Contracts - Development - JustLend DAO?

I’m assuming you implemented such contracts in testnet and then you are interacting with them in your UI, however I could not find clear evidence on this
 (this is to qualify as integration track)

Your project is interesting and definitely have a valid use case for business.
Thank you for building with us! :slight_smile:

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@SimbadMarino thanks for your interest and for testing it out!
You would need to click the upload button after choosing your image. You would see the preview of it in the modal window(which confirms the IPFS link now being in the URL field). Then, with all your other info already entered, you can click Create Deal. The deal should save smoothly from there.

We implemented mock cTokens for USDD, USDT, BTC, along with a mock Comptroller and MerkleDistributor on Nile. The deployed addresses for them are here: Deployed Contracts | MintDeals

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We implemented the function signatures and interfaces for what we will need from JustLend Mainnet,- on Nile.

Further proof of these mock contracts being accessed/interacted can be found via the Tronscan on credit facility and credit manager contracts.

Additionally, the contract code for the mocks are here to confirm the functions calls used, matches JustLend.

When its time to deploy to mainnet we would just need to use JustLend’s relevant mainnet addresses in our contract’s initialization.

Hope this helps add clarification and evidence :+1:

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Someone joining a club (club deal registry)
https://nile.tronscan.org/#/transaction/de162119eb679b11c8744cf81d53ef4919f50d5e59cc387938d245d068f886b9

Someone borrowing from Credit Manager (shared credit)
https://nile.tronscan.org/#/transaction/5f50b5a5852a1484285d6b5c4b7ce3102763117ed1ff28d15bdd54f48d4e20c9

Mock for jUSDT reflecting these interactions which took place on club deal registry and
credit manager
https://nile.tronscan.org/#/contract/TN3FDQy3neBuHtmhHdzXx9f1RBx2yPieEJ/internal-transactions

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@SimbadMarino

We’ve now added a suitable validation msg for the image upload on ui. Thanks for pointing this out :+1:

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This helps ensure the the club owner clicks upload for the selected image first and we improved the “Valid To” field to ensure a future deal expiry date is chosen:

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Hello. How does the credit scoring system work for businesses, and what criteria are used to determine their borrowing capacity?

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Hi! @yssuspro Welcome to the forum, and thanks for your question!

Here are the highlights:

Membership Fees:

  • Club membership fees are split 80/20, with 80% going towards basic credit and 20% towards the shared credit reserve. The latter is converted to BTC and added to the shared reserve.

Credit Score Basics:

  • Your score ranges from 250 (lowest) to 850 (highest), with everyone starting at 500.

How Your Score Changes:

  • On-Time Payments: Pay on time, and your score goes up!
  • Missed Payments: Miss a payment, and your score takes a hit.

The Role of Time in Scoring:

  • Timely Repayments: Get the full boost to your score (current threshold is within 30 days of borrowing).
  • Moderate Delays: You’ll see a smaller score increase when repaying past 30 days.
  • Long Delays: Your score benefits less when repaying.

Calculating Borrowing Capacity:

  • Your capacity is based on your score, boost factors, and other metrics to be determined. Higher scores and boost factors mean you can borrow more. The boost factor is 1 by default for everyone and serves as a multiplier.

Accessing Credit:

  • Individual/Basic Credit: You can borrow up to 70% of the total stablecoin value accumulated here.
  • Shared Credit: This works based on availability and is on a first-come, first-served basis. Borrowing from here reduces your score, which means you may have less to borrow next time. The total shared availability is based on 20% of the dollar value of BTC accumulated here.

Admin Adjustments:

  • Admins can optionally update your credit score and boost factor, directly impacting your shared borrowing capacity.

Key Points to Remember:

  • Each time you borrow, it impacts your score and future borrowing capacity.

We have further info in our docs:

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Thanks for the clarification! Regards!"

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Heya @SimbadMarino - There’s no official Nile instance of JustLend so we had to use Mock contracts which implement JustLend’s interface. For a maininet deployment, we just need to point to JL’s mainnet contract addresses
 If this approach isn’t workable for Integration track, then we can move track to DeFi (will that mean our Devpost will also be considered in that track too? since we can’t edit it) Do let us know, thanks!

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No worries, I read the JL answer amnd it is clarified now. Thanks a lot! You can keep the Integration track

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Great :+1:

Another point to note, in case anyone’s wondering about the onchain naming we used on Nile. Tronscan Nile blocks tokens that have the characters “BTC” or “USD” within the token names which caused failed transactions in our early testing of the mock JL integration with the credit facility. So, we had to deploy the mocks with non standard naming to work around this eg:

  • “jCorn” used for BTC cToken/jToken +
  • “jTESDT” used for USDT cToken/jToken +
  • “jUDSD” used for USDD cToken/jToken
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It’s been exciting to see the community’s response to the poll! The Credit Facility is clearly the standout feature and we’re pumped about that!

When we first started building MintDeals, we knew businesses would need a creative way access to credit. We initially thought about using an invoice factoring model, especially with our integration of JustLendDAO. But, after seeing other projects struggle with this on blockchains, we decided to rethink the way businesses build + engage with credit.

That’s when we considered the power of customer loyalty. The real-world repetition of joining clubs, redeeming deals and staying engaged for more, is a natural fit for blockchain metrics. So we built MintDeals around the idea that onchain activity from loyal customers could unlock credit for businesses over time. The more engaged their customers are, the better the access to credit—it’s a cycle where loyalty drives growth and growth opens doors to new financial possibilities.

We’re super excited to reshape how small businesses tap into credit and build loyalty. The feedback so far has been encouraging and we’re continuing to fine-tune the approach.

Now, we’d love to hear from you (any one or all :smile:):

  1. How do you see blockchain helping businesses build loyalty while accessing credit?

  2. What’s one feature or improvement that would make MintDeals a must-use platform for you or businesses(online or offline) you know?

  3. What challenges do you think small businesses might face in using blockchain for credit and how can we overcome them?

We know there’s a blockchain UX gap for average customers, but we believe that with time, this will improve. Thanks for all the support thus far! :smiley_cat:

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141

sorry, I missed your response
thank you for the detailed answer

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