Project Name: Project PLedger Project Track: Academy Team Name: Muffin Team Members: 1, u/bonusducks777 DevPost URL:https://devpost.com/bonusducks777 About me:
I am doing this project as a solo teenager, with this presentation from TRON’s in-person hackathon in Boston, where I won “honourable mention”. I’d love to get the opinion and feedback of the community here, while entering for the overall hackathon.
Proof of funds lol , just like what some banks do, before they will give you any loan, u have to provide a collateral. It can be a form of ur land or your car or ur house. If you dont pay back the amount u took, they will just have to sell the collateral to get back their money.
Probably a token with at least 500k mcap on the DEX we partner with, who will have an arrangement to hold the tokens for us or lock them / send them to us. The token / asset would need to be audited / verified to be secure so that third parties couldn’t just setup a fake token and rugpull it to steal our funds.
The exact ratio between borrowed and staked assets should always have a lower ratio on the side of staked assets to ensure any losses incurred by the illiquid asset falling in value are insignificant to PLedger. Ideally, variable ratios depending on how likely it is for the staked asset to retain value i.e. if the staked asset is a reputable NFT with 20k members in its community, as opposed to a 600k marketcap generic memecoin. To guarantee there is no loss, PLedger should also have a stop-loss mechanism to try get rid of illiquid assets should their value fall too hard as well. Thanks!
Yep, that was precisely the concept, which I initially visualized as a “blockchain pawn shop” except here is is done via a dAPP and is applicable to assets on-chain. Thanks!
Hola, los activos líquidos probablemente estarían en forma de TRX o USDD, según lo que sea más aplicable para el activo apostado o lo que desee el usuario. Por “aplicable para el activo apostado”, me refiero a si el grupo de liquidez de dicho activo está en USDD o TRX, etc.
¡Gracias!
I wouldn’t really take a mcap in consideration since a project could provide 1% of the total supply in a pool with $5000 which would put the mcap directly to 500k.
I would personally advise a full process of due diligence which takes more time but limit the risks of rugpull, soft rug, failure. Can’t prevent those risks 100% but can limit them by checking the amount of liquidity provided on DEX + daily volume, the amount of unique holders + the token distribution, has the project delivered sustainable products, does it have a social media presence, does the token/nft have a real usecase,…
Hi, just want to say your passion for PLedger was absolutely phenomenal! It must’ve been challenging work prototyping your own pledging solutions especially as a single person, let alone travelling to a an entirely different country. You’ve demonstrated your dedication and skill by the way you’ve pitched.
Yes cus Some examples of inherently illiquid assets include houses and other real estate, cars, antiques, private company interests and some types of debt instruments . Certain collectibles and art pieces are often illiquid assets as well.
, just like what some banks do, before they will give you any loan, u have to provide a collateral. It can be a form of ur land or your car or ur house. If you dont pay back the amount u took, they will just have to sell the collateral to get back their money.
