Prototype Development for A New Ethereum Request for Comment : enabling regular loans for fungible tokens
Shefer, Arkadii (2024)
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2024112931346
https://urn.fi/URN:NBN:fi:amk-2024112931346
Tiivistelmä
Blockchain is a relatively new and rapidly growing technology, and as new use
cases appear, they require different functionalities. Many token creators are
obliged to produce their own solutions, essentially reinventing the wheel. The
solution company process is more often less secure and thoughtful than the work
of the whole community around Ethereum on one solution.
The primary goal was to develop a prototype for a new standard for Ethereum
blockchain that enables the borrowing and lending of fungible tokens outside the
scope of a single transaction. The standard ensures that borrowed funds cannot
be transferred or withdrawn in a manner that a borrower is not able to return the
loan as a result. This is achieved by introducing supporting ”Loan” tokens which
affect the behavior of regular fungible tokens.
The research part included benchmarking existing solutions across audited smart
contracts and collecting optimized code practices for a better final product
implementation.
The key outcome of the project was a prototype for a new ERC standard that
would be proposed to the community and then adopted by token creators. The
significance of the thesis lies in the prototype potential to create a more reliable
and efficient framework for managing loans and token transfers, which is crucial
for the growth of DeFi platforms
cases appear, they require different functionalities. Many token creators are
obliged to produce their own solutions, essentially reinventing the wheel. The
solution company process is more often less secure and thoughtful than the work
of the whole community around Ethereum on one solution.
The primary goal was to develop a prototype for a new standard for Ethereum
blockchain that enables the borrowing and lending of fungible tokens outside the
scope of a single transaction. The standard ensures that borrowed funds cannot
be transferred or withdrawn in a manner that a borrower is not able to return the
loan as a result. This is achieved by introducing supporting ”Loan” tokens which
affect the behavior of regular fungible tokens.
The research part included benchmarking existing solutions across audited smart
contracts and collecting optimized code practices for a better final product
implementation.
The key outcome of the project was a prototype for a new ERC standard that
would be proposed to the community and then adopted by token creators. The
significance of the thesis lies in the prototype potential to create a more reliable
and efficient framework for managing loans and token transfers, which is crucial
for the growth of DeFi platforms