The Subscription-Based Lending smart contract is designed to facilitate a decentralized lending and borrowing system with a subscription model. Users can borrow funds by subscribing to the platform for a fixed monthly fee, with grace periods, penalty fees, and interest rates applied to overdue payments. Lenders can deposit funds into the pool and earn monthly rewards based on the funds they’ve provided.

This contract combines subscription-based access with a traditional lending model, aiming to create a more structured and predictable system for both borrowers and lenders.

Problem Statement

Traditional lending systems often lack structure, leading to inconsistencies in repayment timelines, penalties, and reward distribution. This smart contract solves these issues by automating subscriptions, borrowing limits, interest rates, and lender rewards, ensuring a more predictable and efficient lending experience.

• Basic understanding of Crossifi Chain and smart contract deployment.
• wallet (e.g., MetaMask).
• Solidity 0.8.0 or higher.

1. Clone this repository to your local machine.
2. Compile and deploy the contract using Remix IDE or any development environment that supports Solidity 0.8.0.
3. Ensure that your wallet is set up and connected to the network where the contract is deployed (e.g., Crossifi testnet.).

Deploy the smart contract on your preferred crossifi network and set the parameters such as the subscription fee, grace period, penalty rate, and borrowing limit according to your preferences.

constructor(
    uint256 _subscriptionFee,
    uint256 _gracePeriod,
    uint256 _penaltyFeeRate,
    uint256 _fixedBorrowingLimit
)

Once deployed, the contract can be interacted with through web3 or directly using a tool like Remix.

• Renew Subscription: To continue borrowing, users must renew their subscriptions monthly by sending the required subscription fee.
• Borrow Funds: Borrowers can borrow funds up to the fixed borrowing limit as long as they are not blocked and their subscription is active.
• Repay Funds: Borrowers can repay their loan with interest, penalty, and any applicable fees.

• Deposit Funds: Lenders can deposit funds into the lending pool to earn rewards.
• Withdraw Funds: Lenders can withdraw their deposited funds from the lending pool.
• Claim Rewards: Lenders can claim monthly rewards based on their deposited funds.

• Block/Unblock Borrowers: The owner can block or unblock any borrower who violates the terms of the contract.
• Adjust Borrowing Limits: The owner can change the fixed borrowing limit at any time.

• renewSubscription(): Renew the borrower’s subscription by paying the monthly subscription fee.
• borrow(uint256 amount): Borrow funds from the lending pool, respecting the fixed borrowing limit.
• repay(): Repay the borrowed amount with any penalties or interest that have accrued.

• deposit(): Deposit ETH into the lending pool to earn rewards.
• withdraw(uint256 amount): Withdraw deposited funds from the lending pool.
• claimRewards(): Claim accumulated rewards for deposited funds.

• blockBorrower(address borrower): Block a borrower from borrowing further funds.
• unblockBorrower(address borrower): Unblock a borrower, allowing them to borrow again.
• setFixedBorrowingLimit(uint256 limit): Set a new borrowing limit for all borrowers.
• withdrawOwnerFunds(): Withdraw any remaining funds in the contract balance to the owner’s address.

• Contributing

Contributions are welcome! If you’d like to contribute to this project, please fork the repository, make your changes, and submit a pull request.

This project is licensed under the MIT License. See the LICENSE file for details.

For any inquiries or support, please open an issue on the GitHub repository or contact us via email.