Minterest Weekly Tech Report #3
Welcome to the third issue of the Minterest weekly updates where we provide key insights to our community for our weekly progress. At Minterest, we are building a truly fair and community-centric DeFi Lending protocol, starting the era of #NextLevelDeFi.
1) Solvency Check Architecture
After two months of rigorous testing and investigation, the Minterest team has finalised the solvency check architecture. The logic behind this new architecture is designed to track the list of borrowers off-chain, and constantly monitor their collateral position on-chain. This architecture is a part of our automated liquidation flow.
To put this into perspective, the solvency check module analyzes all the collateral positions and identifies people whose loan positions are no longer covered with the required collateral. All the compiled data is then relayed to the automated liquidation flow.
2) Security Auditor
Another great addition to our team! We onboarded a designated security auditor this week to analyze every single line of code even before the official code audits from Trail of Bits and other security auditing agencies. Protocol security is one of our core priorities here at Minterest.
3) Community Telegram Bot
We have improved our community telegram bot to facilitate our community members. Our community bot now has more features such as tweaking texts and instructions, and several types of notifications to help community members stay informed about their NFT lottery tickets.
4) Development Tools
Earlier this week, we also started working on the development of tools to automate interactions with DEXes (Decentralized Exchanges). DEX pools sit at the core of our automated liquidation flow to facilitate asset swaps in case of a liquidation event. These tools will help us automate this interaction with the DEX pools in case of liquidations.
5) Improved UI for Community Events
The frontend team is now focusing on developing and improving the UI for our future community events. This includes a lot of features to facilitate interactions with our community members, such as sending transactions with ease, charts, feedback with emails, educational pages, and more.So welcome to Minterest, in your best interest
So welcome to Minterest, in your best interest
Minterest is a unique borrowing/lending protocol built by industry leaders to service the billions in Total Value Locked (TVL), in DeFi lending projects, with the specific aim of putting user benefits at its core. It provides users with a decentralised financial platform that is fair and inclusive.
The Minterest protocol has the world’s first buyback mechanism, which automatically passes on surpluses to contributing platform users. This way, users receive protocol rewards on top of industry leading borrowing/lending rates, creating the potential for the highest long-term yields in DeFi. The protocol also has an on-chain treasury which captures and shares liquidation surpluses with users.
22, November 2021