Askobar Commissions dOrg to Build Tiered Lending Protocol
Beginning the week of August 24, 2020, The Askobar Network will be engaging with the dOrg development shop on the design and end-to-end development of its flagship product, Askolend.
dOrg is a full-stack builder DAO (decentralized autonomous organization) that regularly ships Web3 tech for high-profile DeFi projects such ass Balancer, DeversiFi, Gnosis and Compound.
The Askolend protocol will allow users to choose between tiered levels of risk and reward for overcollateralized lending pools. The project envisions opening up the levels of risk exposure into tiers so that users can have more options for managing risk and upside. The assembled team of dOrg will be handing:
- Specifying the basic user-flows and technical architecture
- Writing Solidity smart contracts for the tiered lending system
- Designing and developing a minimalist, mobile-responsive frontend
- Integrate Web3 interactions with the smart contracts
In traditional finance, people can pick and choose which asset classes, risk profiles, and liquidation priorities when purchasing loan products. No such complexity exists quite yet in crypto. Imagine each token in a lending pool such as Compound having differing tiers of risk with the respective interest reward. One tier has higher risk/reward, and 1st priority on covering insolvent loans. The 2nd, a lower risk/reward pool protected by the 1st pool if loans default. This is what the dOrg team has been commissioned to build. The assembled team will provide full time support, a dedicated project manager, weekly check-in calls, introductions to pertinent strategic partners within their network, and monthly milestone reports.
The dOrganisms are excited to begin building this new addition to the DeFi ecosystem. They hope that their collaborations deepen the financial instruments available to the Web3 space.
