Feature Request: Enable "Payday Loans" via SourceCred (WIP)

[echo-juliet]

Please note this ticket is very rough at present! Be gentle with your feedback.

Context Agave Platform launching soon; DeFi product on xDAI

• Based on AAVE on Ethereum MainNet
• Take crypto assets and borrow against them (DAI or USDC) --> MakerDAO works differently: when you borrow against, you're creating DAI --> AAVE, you can borrow what's already on their platform

Use Case

• 1Hive has forked AAVE on xDAI --> Want to integrate with SourceCred: Borrow against your future Cred ----> PayDay loan but much more user friendly

**Need: **

• Be able within SC to record if someone owes funds
• Be able to record interest rate
• Better analytics tools: --> If this person continues their current trend, how much will they earn in the future?

**Don't Need: **

• Blockchain integration (within SC instance) (though would like over long term)
• All assets used for SC would live within AVE fork

[blueridger]

Tech Notes

Components:

1. Analytics tools that help predict how much cred and how much grain someone is likely to earn.
2. Payout (grain transfer) to lendee.
3. Debt balance sheet.
4. Distribution garnish.
5. UI/UX

Recommendation:

• Build 3rd party in a new package that has its own CLI. Run the CLI as a part of the distributeGrain github action. This package will use the SC library's Instance interface to get, change, and save the ledger. It will be responsible for its own data storage (similar json local file storage recommended)