djrosenbaum / aave-tuition

Spark Hackathon Concept - Contribute interest earned on tuition toward future semesters

aave-tuition

Spark Hackathon Concept - Earn interest on your tuition toward future University semesters

Project submission to The Spark University Hackathon hosted by En[code] Club

Another hackathon, another idea. Looking over the sponsors Aave which I have been pronouncing ahh vay caught my attention. If you are not familiar yet, Aave provides a money market protocol on ethereum's network for borrowers and lenders. At present, the smart contracts powering Aave's money market are managing over $100 million USD.

At the most basic level there are borrowers and lenders. Lenders deposit tokens such as DAI into a pool to earn interest. Borrowers stake one token in order to borrow another token with interest that goes to the lenders.

For this hackathon the team imagined a University of the future. A University which transparently stakes student tuition into a money market using Aave's protocol. All interest earned from a student's tuition can be collected by the student upon receiving their graduation diploma.

Click here to try out a concept for an Aave compound interest calculator