Sure. Our company is Hashstack Finance, specializing in building infrastructure & applications for the decentralized financial eco-system. Now, we have a product called Open Protocol which is the first & only collateralized lending solution for the retail cryptocurrency market allowing consumers to borrow up to three times the collateral being put up.
Eg: If you provide collateral of 100$ you can only secure a loan of up to 70% against it in the current scenario. This is what we aim to amend with our value proposition. In a nutshell, we have redesigned the process of deposits & lending in such a way to inculcate stability for the protocol as well as the predictiveness in terms of liquidity availability.

Sure. So we are primarily an Indian team. I come from a Product Manager background with 8 years of experience in consumer tech products. During my last stint as the Head of Product at a new banking startup, being employee no.2, I was in charge of building the entire engineering team over there. Moving further, my current CTO also has had a successful stint with many reputable companies in the consumer tech space. Last but not least, our Senior Solution developer has previously worked as a Blockchain developer at Sushi Swap & he is our Employee No. 1 and has been with us since August of 2021.

So, there is no inspiration as such, rather a need we have seen for our project as we have been in this space for almost a decade so you see things from a solution perspective. We took a clue as to how Traditional Financial Institutions secure under collateralized loans for the individuals & entities in the unorganized sector, so we used the methodologies the banks employ with regard to providing under collateralized loans & measured it with regards to decentralized financial practices in the current system of lending. So this in some sense could be said to have inspired us to build our project.

So we are trying to solve the simplest problem of a borrower. Let’s say I have a requirement of money & I go to a lender, currently, how it works is I’ll get 70$ for putting up collateral of 100$ which makes no sense to me as a borrower & it is exactly what is happening today in the market. So, what we are doing is we are removing the existing lenders with our lender called Open Protocol, where you come to us asking to borrow 300$ but we will take collateral of only 100$ which solves the problem currently existing in the market by a margin of 325%. So this is the immediate capital efficiency, beyond this, it also expands the use cases that low borrowers could have against the loan they secure.

So, fortunately, we’re not too early nor are we too late. We are right at the time in the sense that the technology is not too nascent either, nor is it too saturated. We have the tools & the means to build what we want to achieve & that’s part of the reason why we’re able to build a solution like Open Protocol. Having said that, the biggest challenge so far is that of any blockchain company, which is sourcing quality talent, so the capacity building has been the single biggest blocker for us and still is a bottleneck for us.

We recently deployed our testing which qualifies as a tangible milestone for us along with funding of a little over 1 million USD, which is a smaller aspect in the grander scheme of things. This is a testament for us ideally.

Sure. Will list them point by point.

• Ensuring we have adequate team strength.
• Launching our Mainnet followed by a TGE so the timing is parallel for us.
• We are also in talks with some of our Tier 1 entities with regards to conducting our own IDO or Token Offering, as well as implementing the critical features such a dual liquidation mechanism which will see an improvement of at least 10X over how DeFi lending solutions today liquidate a distressed asset.
• Working on a Chain Switch Oracle which is our solution to navigate through network congestion issues due to a series of liquidations that need to be processed & the liquidators are unable to process them as a result of which the protocol migrates them onto another layer.

So, in the next 5 years I see Hashstack falling less in the same space as building your own Blockchain as we do not see ourselves to be amongst those entities but we do see us becoming a go to DeFi Infrastructure provider or at least having our own ecosystem. Currently, we have already integrated our first app called Pancake Swap & in the next six months we’re integrating two other applications, of which one is a Decentralized exchange & the other is a Launchpad to improve the loan utilization for our followers.
So by the end of 2022, we’ll likely have about 50 Dapps integrated within Open Protocol wherein you can utilize the loan you acquire on the protocol to use as trading capital on these Dapps without having to switch platforms. Another point I’d like to highlight is that we are also building our second product which is a On-Chain Credit Risk which we foresee as becoming the Gold Standard of determining credit worthiness of a wallet address on the blockchain.