Token holders have FIL that they may want to lend or use for services on the network. Filecoin also has miners and clients that will want to use FIL for storage retrieval and payment channels. So we have two groups of interested parties who will benefit from our liquidity pools. These collateralized subscriptions are made using the TimeSwap protocol created by our team. TimeSwap doesn’t use an oracle to get data or prices, which is a major benefit over similar protocols and reduces potential attack vectors. For example, token holders can use their FIL as collateral to pay for DAI-denominated subscriptions. These subscription pools can have different durations or incentive mechanisms. The wrapped FIL (FILE) we use is an ERC-20 token that reduces transaction friction when transferring between FIL and any other ERC-20 token like DAI. The tokens involved in these transaction are specific to their respective pools to ensure future liquidity and reward stakers for their contributions. Our platform also has decentralized chat rooms that allow the users to discuss different liquidity pools and other web3 protocols. These chat rooms each have a unique ghost thread (i.e., they don’t persist messages to any database and instead communicate messages between peers directly or upon receipt from other online peers kept in-memory). Whenever a new user comes online then they get messages from other peers in the chatroom as long as someone else is online. When all users go offline, messages in that chat room disappear. This feature is very helpful for high throughput chat rooms like the ones on our platform where chat history is less important. Although a permanent peer (pinbot) can be added online to persist messages in these chat rooms indefinitely. Each user in our app has a 3box (decentralized) public profile which can be seen by other participants in the chat.
How It's Made
The TimeSwap protocol is made using solidity and ethereum. For the frontend of our application we used React+NextJS. We used 3box for chat rooms, user authentication and creating profiles with unique DIDs. Ghost threads (also by 3box) uses messaging features in our application to incorporate IPFS/libp2p and pubsub. We used Slate to create Filecoin wallets and make transactions for users within our application. Heroku is used to deploy the ghost pinbot api and peer applications which allow peers to find each other quickly over the decentralized web and allow for the smooth functioning of multiple chat rooms.