Liquidator

About Liquidator​

Liquidator: User-Centric Transactions Enhanced by prl.js

Overview: Liquidator is a revolutionary platform in the DApp space, focusing on facilitating smooth transactions between fiat and stablecoin currencies. Primarily aimed at end-users, it simplifies user onboarding and currency exchange processes in decentralized applications (DApps), making financial interactions more accessible and efficient.

Key Features:

User-Friendly Transactions: Liquidator offers a platform where users can easily set up and conduct fiat-to-stablecoin transactions, providing customizable settings for stablecoin types, blockchain networks, and exchange rates. Secure Exchange Mechanism: It incorporates QR code-based transactions and an escrow service, ensuring secure and trustworthy exchanges between parties. Integration with Payment Request Library (prl.js):

Developer-Centric Tool: While Liquidator serves end-users, prl.js is specifically designed for developers. This open-source library streamlines the incorporation of payment request systems into DApps, greatly simplifying backend development. Efficient Payment Processing: prl.js allows developers to enable ENS Domain-based payment requests in their DApps, making the payment process more intuitive and streamlined for users. Cross-Chain Compatibility: Equipped with Cross-Chain Interoperability Protocol (CCIP) support, prl.js enables developers to build DApps capable of executing transactions across various blockchain networks, enhancing the functionality and reach of DApps in the decentralized finance landscape.

Liquidator, with the integration of prl.js, presents a unique combination of user-centric transactional ease and developer-centric technical prowess. While Liquidator provides a seamless and secure transaction platform for users, prl.js equips developers with sophisticated tools to build versatile and user-friendly payment systems within their DApps. Together, they forge a more inclusive and efficient DeFi ecosystem.

How it's Made The project is composed by the frontend, implemented in javascript, using Next.js, the backend, which runs in an application specific rollup powered by Cartesi and compatible with EVM networks as the base layer, and a javascript library to streamline the development of applications that request payment across chains.

The direct use case of this application involves two personas: a fiat owner, who is willing to pay bills in order to receive cryptocurrency, and a Stablecoin owner, who wants to pay bills using QR Codes or 1D barcodes. First, the fiat owner has to sign up to the application stating which currency he is willing to use as Fiat, how much he is willing to pay, his preferred stablecoins or cryptos, and the desired rate for each one. In order to flag himself available, he sends this information via blockchain to the DApp, in order to be queried by Stablecoin owners. The second step for the stablecoin owners to send a picture of the qrcode and the crypto to the Liquidator contract. The fiat owner will be notified and, once he finishes the payment he submits the receipt on chain as a proof of payment. The crypto owner then verifies this proof and sends the approval to the Liquidator DApp so that the crypto can be released to the fiat owner.

Using the power leveraged by the Cartesi macine, the Dapp could use more advanced validation strategies such as verifying a cryptographic signature or even using computer vision to validate the proof, further streamlining the process.

Describe what could be next for your project?​

Making it an Open Source Liquidity Aggregator that can use Chainlinks CCIP to accept stablecoins on any chain and build out the escrow backend & dispute mechanism within Cartesi.