DeFiner 2.0 Product Milestones Revealed

Sep 7, 2021 6:13:29 AM / by DeFiner

There are so many exciting aspects to DeFiner 2.0 and we want our users to access these as soon as possible. That is why the team will break down DeFiner 2.0 functionalities and release them phase by phase.

In this article, we will discuss this different phase. In general, there will be two different stages: the DeFiner 2.0- Basic and the DeFiner 2.0 Booster. 

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DeFiner 2.0 Basic 

DeFiner 2.0- Basic: Phase 1 

Smart Contract Factory - Child Pool Creation

In DeFiner 2.0- Basic: Phase 1, we will be releasing the Child Pool Creation feature

Smart Contract Factory (SCF) is one of the most important features in DeFiner 2.0. The idea of the SCF is to create separate pools (Child Pools) to isolate the risks. Current lending protocols are unable to support assets of the different risk levels due to the liquidation mechanism. The solution DeFiner 2.0 proposed is isolating the risks by creating separate lending pools. This is the first step to achieve permissionless. 

The Child Pool is created by replicating the smart contract of the DeFiner 1.0 main pool.  The SCF will generate smart contracts based on different configurations that users input. In this phase, users will be able to create a replication of the current DeFiner Savings Pool with most configurations. 

 

DeFiner 2.0- Basic: Phase 2

Configured Child Pool Creation

In Basic Phase 2, we will be enabling the configuration functions for the Child Pool. Configuration is also an important aspect of DeFiner 2.0. These configurations are designed for better risk management. 

The following features are the ones that users will be able to configure.  There are three major categories for users to configure. 1) Risk Control Model 2) Interest Model 3) Oracle Model 

communityFundRatio

minReserveRatio

maxReserveRatio

liquidationThreshold

liquidationDiscountRatio

compoundSupplyRateWeights

compoundBorrowRateWeights

rateCurveSlope

rateCurveConstant

deFinerRate

deFinerCommunityFund

bank

savingAccount

tokenInfoRegistry

accounts

constants

Oracle

Collateral Factor 

 

DeFiner 2.0- Basic: Phase 3

NFT Asset-backed loan & ERC-721 Token as Collateral

Nowadays, lending protocols are not currently supporting the collateral-based loan market for NFT assets. DeFiner 2.0 will successfully bridge this gap by introducing the NFT asset-backed loan in Basic Phase 3.

Phase 3 will open the door to a wider range in NFT, including LP-Token, real estate, art pieces, domain names, trading cards, and more. 

Supporting ERC-721 tokens as collateral will also be achieved in this phase. The current DeFiner 1.0 savings contract can only support the ERC-20 type of token. This release will enable child market creation for both ERC-20 tokens and ERC-721 tokens.

DeFiner 2.0- Basic: Phase 4

Internal Balance Transfer (Without the Privacy Feature)

Basic Phase 5 will be focusing on the internal balance transfer. This is designed to be the prepping step before achieving 100% privacy protection. After the completion of this phase, users will be able to transfer balance within the DeFiner Child Debt Market. 

 

DeFiner 2.0- Booster

DeFiner 2.0- Booster: Phase 1

Privacy Feature

100% privacy protection is the goal for Booster Phase1. The privacy function is achieved through internal balance transfer with the zero-knowledge proof mechanism.  When users deposit into our smart contract from address A, they will have the ability to conduct an encrypted internal transfer from Address A to Address B. The transfer process is encrypted with zero-knowledge proof. 

Our DeFiner Smart Contract will function as a black box. After Booster Phase 1 completion, users will have the ability to transfer balance within the DeFiner Child Debt Market with 100% privacy protection. 

DeFiner 2.0- Booster: Phase 2

Secondary Debt Market 

Booster Phase 2 will introduce secondary debt markets to the 2.0 world. The secondary debt market is a mechanism that DeFiner 2.0 uses to ensure liquidity. 

In this release, users will have the option to tokenize their debt position and trade it on a secondary market. The position is represented by dToken. DToken comes into the picture for those who want an early exit and if there is a lack of lending currency available, they can swap their dToken in the secondary debt market at a market-driven price. 

DeFiner 2.0- Booster: Phase 3

Term loans 

The term loan and the fixed-rate loan will be the last stage in DeFiner 2.0. These are aimed to be enhancement features in DeFiner 2.0.  

The benefit of having a term loan is a more predictable payback. Lenders are not able to withdraw funds or have the right to liquidate the borrower's collateral until the agreed term expires. 

DeFiner 2.0- Booster: Phase 4

Fixed-Rate Loans 

The second enhancement feature is Fixed-Rate Loan The loan should be settled at a fixed rate on the loan expiration day. 

Fixed-Rate Loan will be more business-oriented. Fixed-rate has more predicted interest and is more borrower-friendly. Therefore, it will be a perfect fit for Institutional borrowers. 

 

All the different phases aim to achieve one goal - a truly permissionless and configurable DeFi lending protocol with 100% protected privacy. By the time these milestones are completed, we will bring true decentralization to the DeFi ecosystem. 

 

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Tags: Announcement

DeFiner

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