Workers Auto Approve
Fulcrum-Compound-MakerDAO InstaDapp bridge (old)
# Prize Bounty
# Challenge Description
Recently InstaDapp released its MakerDAO-Compound bridge, allowing users to refinance their MakerDAO loans on Compound at a lower interest rate. There is a strong demand for users of existing lending protocols to have a convenient way of porting their loan to a platform with lower interest rates. Fulcrum lending pools (iTokens) are similar to Compound in that anyone can lock collateral and borrow against them at a variable interest rate.
The object of this bounty is to modify any necessary InstaDapp contracts or add new ones, to add support for moving loans from either MakerDAO or Compound into or out of Fulcrum. Moving a loan into Fulcrum means locking ETH collateral and borrowing against iDAI.
The fulcrum contracts for iDAI are here:
Mainnet iDAI: 0x14094949152eddbfcd073717200da82fed8dc960
Ropsten iDAI: 0x9aefbe3e4c09faa4b6bcf03bccbecbe98a470596
The following describes the function for doing over-collateralized borrows against iDAI:
// Called to borrow token for withdrawal or trade
// borrowAmount: loan amount to borrow
// leverageAmount: signals the amount of initial margin we will collect
// For bounty use: 2000000000000000000 -> 150% initial margin
// interestInitialAmount: This value will indicate the initial duration of the loan
// For bounty use: 0 (this will set initial term to 28 days)
// loanTokenSent: interestAmount + extra sent
// For bounty use: 0 (interest will be paid out of collateral)
// collateralTokenSent: collateral for loan sent
// Amount of WETH that will be sent
// borrower: the address the loan will be assigned to (this address can be different than msg.sender)
// Collateral and interest for loan will be withdrawn from msg.sender
// collateralTokenAddress: The token to collateralize the loan in
// WETH address
// tradeTokenAddress: For bounty use: 0x0000000000000000000000000000000000000000
// returns amount borrowed
For closing this loan, you have to call the bZx protocol “closeLoan(...)” function.
The current InstaDapp Maker-Compound bridge contract is here: https://github.com/InstaDApp/contract-v2/blob/master/contracts/bridges/MakerCompound.sol
# Submission Requirements
The bridge must be functional. This submission should culminate in a pull request to the InstaDapp Github repo. It is not required to create a front-end or user interface for the bridge.
# Submission Deadline
# Judging Criteria
The first team to submit a functioning bridge will be awarded the bounty. There will be no pro-rata payments for partially realized implementations.
# Winner Announcement Date
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