With the rise of decentralized finance (DeFi), blockchain went from being just a “peer-to-peer electronic cash system” to a full-fledged financial sector offering a whole range of financial services in a decentralized fashion. However, the financial services that witnessed the biggest shift in their operations through decentralized finance are lending and borrowing. We can say that they entered a new dimension, creating a world of possibilities.
DeFi has made it possible for anyone in the world to borrow from anyone else in a decentralized, trustless, and permissionless manner. The lending protocols and underlying smart contracts ensured that through this entire ordeal user assets are secured and that lenders get what they lent and the promised interest. But, because of the lack of a proper communication system across these DeFi platforms (read protocols), borrowers sometimes miss the deadline to pay back what they owe. This creates a complicated scenario, leading to their collateral getting liquidated.
This is why we at EPNS have partnered with the lending protocol Timeswap to enable decentralized push notifications for lenders and borrowers on the platform.
How Timeswap Can Benefit from EPNS Push Notifications
Timeswap is the first oracle-less and truly permissionless lending and borrowing protocol for the DeFi space. It is a revolutionary protocol that aims to redefine money markets with its constant product AMM (automated market maker). It allows any user on the platform to lend or borrow any ERC-20 token with any other ERC-20 token as collateral.
The platform also allows projects on the Ethereum network to borrow funds using their native token as collateral. The interest rates and loan periods are flexible and the protocol itself is gas efficient. This makes Timeswap the perfect protocol for users who are getting started with lending and borrowing in DeFi.
Because of the flexible timeframes, it is possible that borrowers miss the maturity period or even lenders miss out on withdrawing funds after maturity. This is where the partnership with EPNS could be game-changing.
EPNS Helps Timeswap Create a Rich User Experience
Through our partnership with Timeswap, we aim to create a reliable communication channel for the protocol to be able to efficiently communicate with its users. Users of Timeswap can now subscribe to EPNS to receive notifications about their loans.
- Borrowers can receive notifications whenever the maturity date of the loan approaches so that they can pay it back on time.
- The lenders can receive notifications when it is time for them to withdraw their deposits after maturity.
The incorporation of EPNS Push notifications can assist Timeswap in its efforts to revolutionize money markets creating a hassle-free, no friction experience for its users. We hope to become an integral part of the protocol in the near future.
About TimeSwap
Timeswap is the first fully permissionless, oracle-less, non-liquidatable, fixed maturity lending & borrowing protocol. Timeswap uses an AMM for interest rate discovery and collateral ratio determination. The protocol allows lenders and borrowers to set ‘interest’ and ‘insurance’ parameters that are determined along a constant product bonding curve, effectively allowing users to structure bonds against a pooled counterparty. Liquidity Providers can create pools with fixed maturities for any pair of tokens, allowing for the creation of debt markets across long tail assets. For more information, please visit www.timeswap.io.
