ssetzer/alfoatsc

Loan Escrow Smart Contract

Loan Escrow Smart Contract

The smart contract matches ether lenders to borrowers. When the lender wishes to lend ether, her currency is held in the escrow. Then when a borrower wishes to avail the loan, she needs to deposit collateral (as decided by the lender) to the escrow.

Lender

The lender decides on the following parameters.

• Minimum amount to lend
• Maximum amount to lend
• Expected return payment
• Due date of return payment
• Expected collateral: list of (token, amount)

At this point the tokens that are willing to be lent will be held in escrow.

Borrower

Assuming a borrower fulfills the lending conditions, her collateral tokens will be held in escrow and the loaned ether will be transferred.