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LonesomeShark

LonesomeShark is an Ethereum flashloan liquidation protection protocol built by borrowers for borrowers. It was born out of the EthOnline 2021 hackathon. In V1, we use Chainlink Keepers for monitoring and Aave flash loans to source liquidity. See Information below for more info.

One of the biggest opportunities in DeFi today is market volatility which can lead to borrowers losing a portion of their collateral due to liquidations and this can be costly as we have seen with the recent events.

Optimistically and truthfully, DeFi brings many benefits to improving people's lives. Just to name a few, reduce unemployment and create new opportunities. But less than 4% of the world's population is on it. We want to change that. Our mission is to drive mass adoption into crypto by improving the user experience and minimising liquidation risk. We want to help onboard the next 100 million users.

Why lonesome shark? Because no more shark loans needed, flashloans replace them :) Shark loans are getting lonely because of this!

Deployed - Kovan Testnet (beta release only)

Live demo: https://lonesomeshark.xyz/

Connect with the team

You can join at the Discord channel or connect with the team on Twitter if you run into any issues with our platform or talk with other borrowers.

Information

• Created at: ETHOnline 2021 Hackathon
• Final Demo Day Pitch: ETHOnline 2021 Demo Day
• Slides: Presentation Slides
• Figma: Mockups, wireframes, and logic flow
• Notion: Brainstorming
• R&D: An Empirical Study of DeFi Liquidations: Incentives, Risks, and Instabilities
• Current pitch deck: 4Fundraising
• Huobi Columbo Demo Day: 3rd Prize
• Gitcoin GR14: Join us to drive mass adoption into crypto

Thought Process

• Original flash loan idea was a cross exchange arbitrage bot was inspired by Julien Klepatch from Eat the Blocks.
• Week 2-3 changed directions and decided on an open source liquidation bot driven by Aave's hack ideas.

Future Developments

• Start small and target small niche market of borrowers to test product market fit. See deck for more info on GTM.
• Shifted our focus to fundraising through hackathons, community, grants, and angels.
• Flash Loan functionality to source liquidity from multiple locations starting with Uniswap and Maker.
• Integrate AaveV3 and test use of simple and batch flash loan functionality to lower fees.
• Work closely with Optimism team for auditing and prepare to launch there at the end of 2022.