Hatom

Services

Smart-contract development, Tokenomics, Backend, Docs

Industry

DeFi

Context & Mission

Hatom is the first decentralised, algorithmic protocol for lending and borrowing assets, thatoperates on the Elrond Network.

Suppliers provide liquidity to the market and earn interest on their deposit, while borrowersare able to take loans in a collateralised fashion.

Hatom’s underlying core math functions are based off compound.finance, although someoptimizations were done for fixing known vulnerabilities..

Challenge

- To be early adopters of a blockchain that although it is very well thought out, still shows immaturity in essential parts of its code.

- To understand in-depth the business reasons, operation, and vulnerabilities of the reference protocol, and not only its obvious operation.

- Taking full advantage of every security and usability benefit available in a modern blockchain like Elrond.

Solution

For solving these challnges it was necessary to understand Elrond's technology in-depth, inorder to understand the limitations of each functionality and find a productive way to do thehigh-quality work required. Teamwork was fundamental. While some team members studiedthe reference code in-depth, others focused on a deep conceptual understanding fromwhitepapers and public audits. In team meetings, we were able to clearly visualize businessreasons, alternative uses and vulnerabilities.

The first step was to understand in depth the reference protocol and the features available inElrond. Then we had to completely forget the original architecture and think about the bestway to accomplish things while taking advantage of the benefits of Elrond technology.

Outcome

● Create a version of Compound protocol but on Elrond
● Simplify Governance for Hatom Protocol
● Assist in the writing of technical docs
● Create liquidation bot
● Testing all the deployed functionality on Test-net

Conclusion

Hatom is Elrond's First Platform for Lending and Borrowing Crypto Assets