Project Info
KashSpace is an omnichain lending protocol built on the MAP Protocol. It supports depositing assets on Chain A and lending assets on Chain B. Chains A and B can be either EVM chains or non-EVM chains.
website: https://kash.space/
Goals/ Milestones/Key Results
First Phase: Minimum Viable Product (MVP)
Timeline: 1 month
A. Building the MVP on MAPO with the following features:
a. Support for depositing and borrowing various types of assets on the Binance Smart Chain (BSC) testnet, allowing users to test the functionality and effectiveness of the platform.
b. Ensuring the loan information is synchronized to the MAP Relay chain to facilitate cross-chain communication and to track lending activities in a decentralized manner.
Second Phase
Timeline: 1 month
A. Expansion of lending support to include additional blockchain networks, specifically Binance Smart Chain (BSC), Polygon, and Ethereum, providing users with more flexibility and choices for managing their assets across multiple chains.
B. Introduction of stablecoin lending options, including USDT and USDC, to provide users with low-volatility borrowing and lending options to manage risk and maintain value stability.
We are requesting a total of $10,000 for the completion of the above development stages of the platform. This funding will be used to cover development costs, including but not limited to developer salaries, infrastructure costs, and third-party services. We are requesting payment in the following tranches to ensure proper allocation of funds and timely completion of the project:
a. Upon approval: $1,000 - To be used for initial project planning and setting up the development environment.
b. Upon testnet deployment: $3,000 - To be used for further development, bug fixes, and refining the platform based on user feedback and testing results.
c. Upon mainnet deployment: $6,000 - To be used for finalizing the platform, addressing any remaining issues, and launching the platform on the mainnet to make it accessible to the wider public.
By completing these development phases and securing the requested funding, we will be able to provide a robust and versatile DeFi lending platform that caters to the growing demands of the multi-chain ecosystem. This will ultimately contribute to the overall growth and adoption of DeFi in the blockchain space.
In what aspects of your project can expand the MAPO omnichain ecosystem?
Blockchains are the key infrastructure of the Web3 world, with various chain projects emerging from Layer1 to Layer3. As of March 21, 2023, according to statistics from the DeFillama website, there are a total of 171 chains, including 97 EVM-based chains and 74 non-EVM-based chains. With the development of the multi-chain ecosystem, cross-chain liquidity sharing is becoming increasingly important.
Decentralized finance (DeFi) lending markets have achieved significant growth in recent years. By March 2023, the total value locked (TVL) in the DeFi market had exceeded $49.5 billion, with lending markets and cross-chain bridges accounting for $24 billion. As the DeFi ecosystem continues to evolve, the types and scale of lending platforms are also expanding rapidly. These platforms provide various lending services, including collateralized loans, un-collateralized loans, and flash loans.
Leading projects, such as Aave, Compound, and MakerDAO, provide users with convenient lending services and occupy a dominant position in the market. However, despite the continuous expansion of the DeFi lending market, the demand for a multi-chain ecosystem is far from being met. This is why KashSpace is committed to becoming a cross-chain currency market to meet the growing demand for a multi-chain ecosystem.
By implementing cross-chain liquidity sharing and cross-chain lending, KashSpace is expected to further promote the development of the DeFi lending market. Users can store assets on any chain and borrow various assets across chains, which will help increase the overall market asset utilization and liquidity. Additionally, KashSpace uses the fully decentralized cross-chain interoperability protocol MapProtocol to support cross-chain interoperability, enabling lenders to access assets across various chains.
As more projects and innovative applications enter the DeFi lending market, the market size is expected to continue to expand. Cross-chain solutions, like KashSpace, will help address the liquidity challenges in the multi-chain ecosystem, bringing more opportunities and possibilities to the DeFi lending market. This will further stimulate market vitality and drive the DeFi lending market towards a broader development space.
In conclusion, with the continuous growth of the omnichain ecosystem, cross-chain liquidity sharing and cross-chain lending have become urgent needs. KashSpace aims to realize the vision of a cross-chain currency market to support the free flow of assets across various chains and promote the development of cross-chain DeFi.
Discord Handle
KashSpace Telegram : Telegram: Join Group Chat , We want more blockchain developers to join us!