Explaination Video: Link

The protocol aims to provide an underlying layer, upon which developers can build there own apps for special "Time Based" ERC20 tokens.

The protocol consists of two parties: Liquidity Providers and Borrowers

• Liquidity Provider create a "Wrapper Token" for an ERC20 of their choice.
• They add to their position by providing the givent liquidity.
• The money the deposit in the smart contract, is send out to protocols like Aave, Compound, Yearn etc., depending upon the Blockchain, to earn interest. The interest is later distributed to the liquidiity providers.
• The other party is the "Borrowers". These people come to the protocol, to take out a certains times of a given "Wrapped Token".
• To take a loan, the borrower needs to pay a small amount of fees + a security deposit. The calculation of the two is documented down below. The one rule that will be followed will be: fees + security deposit << loan.
• The fees paid is one time, and is distrubuted amoung the LP for more gains.
• The security money is an amount, that gets liquidated in case the borrower doesn't payback there loan on time.
• The liquidation amount is withdrawn when the loan is completely paid back.

• The "Wrapped Tokens" given out, has max supply which depends upon the underlying assets, in a 1:1 ratio.
• The Tokens are taken out on a "Time Basis", and the security fees is paid accordingly.
• The tokens being bounded by time, has few restictions:
  • The tokens cannot be send to another wallet. Only wallet -> contract interactions are permitted.
  • The token amount will be adjusted depending upon the time factor.
• The gains made as part of yield farming statergy, LP etc. will be the sole property of the Borrower and has nothing to do with the protocol or it's tokenomics.

• The interest is calculated using piecewise linear equation.
• The first part is if B/T ratio < 80 % then : y = mx + c with m = 10% of Ymax-Ymin
• The second part if if B/T >= 80% then: y = mx +c with m = 80% of Ymax - Ymin
• The above models discourages people to borrow all the liquidity availaible, hence leaving funds for the LP to withdraw if required.
• The model also discourages huge chunks of loans, since the B/T ration discussed above is the value after the loan would be taken out from i.e. B=B+value

• Security Deposit is calculated using: numberOfDays * Amount * SecurityRate

Note: The math is currenlty under more research since there are some disparancy in the expected results.

The following are yet to be implemenated. These are features to be included in sprint 2 or 3. Feel free to contact me, in case you are interested on working on any of the following. Also applicable to any issues listed in the project repo.

• Aave/Compound integration.
• Building a JS SDK + Solidity Interface for developers to build there apps upon this, for expand the ecosystem vision of the project.
• Testing and deploying chainlink integration in InterestRateStatergy contract, to calculate equivalent Eth value for any erc20 token. Current MVP does not uses the oracle price fees, hence the numbers would work if the underlying asset is WETH.
• More Research and Development ( points based priority for borrowers and financial advantages for eg. ).