Summary

In Season 1, we started building a BanklessDAO frontend for the Liquity, interest-free loan protocol. Because of a lack of Dev time and knowledge, we were not able to finish it off in Season 1. We still have 200000 BANK left from the Season 1 Grant since the last allocations for time spend until 15/9, but won't have enough to finish off, as detailed below. With Mr Birdman as the Dev Manager, we now have a better estimate of what is needed to finish off.

BDAO will earn LQTY rewards generated by the 'Bankless Loans' Project.

BACKGROUND

Liquity allows anyone to take out an interest-free loan against their ETH in the protocol's native crypto dollar, LUSD. Instead of paying interest, you pay a one-time borrowing or redemption fee when you open or close your position. Additionally, Liquity only requires a minimum collateral ratio of 110%, giving better capital efficiency and more downside protection during volatile markets.

This proposal is intended to:

Finish off the BanklessDAO frontend and connect it to the LQTY Protocol
Expand the number of DeFi instruments in the name of BanklessDAO
Draw the attention of each protocol to BanklessDAO
Explain to novice users how DeFi protocols work

MISSION & VALUES ALIGNMENT

The mission of Bankless and BanklessDAO is to help 1B of people to be "bankless" translates into both the educational part and making the tools available to people. Building our own "Bankless Loans" platform, build on the Liquity protocol, accompanied by appropriate supporting documentation, can certainly help this mission.

SPECIFICATION

The "Bankless Loans" project involves the development of the following parts:

Finish coding the Figma files ( supplied by LiveTheLifeTV )
Web3 connect to the Liquity Protocol
Testing