Clo4er

Inspiration

Having immersed ourselves in DeFi, we've attempted to convey the advantages of crypto and blockchain to my family and friends, but convincing them to join has been challenging. The primary grievances revolve around the complexities of setting up a decentralized wallet, grasping the concept of gas fees, and navigating the challenges of transferring assets across different blockchain networks, even though many want to stay in the end most of them have quit. The impetus to build this decentralized application (DApp) is fuelled by a strong belief and commitment to make decentralized finance (DeFi) more accessible for mainstream adoption. Recognizing the transformative potential of blockchain technology, we aimed to bridge the gap between traditional financial systems and the decentralized future. By integrating features such as account abstraction and gas fee handling, our goal is to simplify the user experience, making DeFi more user-friendly for individuals who may be new to blockchain technology. We believe that by offering a seamless, secure, and cost-effective platform for trading, staking, and automated investing, we can play a pivotal role in bringing DeFi into the mainstream. This inspiration is rooted in a vision of financial empowerment, where anyone, regardless of their background or location, can easily access and benefit from the opportunities provided by decentralized financial services.

## Our Why We strongly believe, that developing a decentralized application (DApp) for trading, staking, and automated investing, with features like account abstraction and gas fee handling, offers several advantages over centralized exchanges. By operating on a blockchain, the DApp introduces decentralization and trustlessness, eliminating the need for intermediaries and enhancing user security. Global accessibility is improved, allowing users worldwide to access financial services without traditional banking constraints. The reduced transaction costs associated with blockchain transactions, along with user control and ownership of assets, contribute to a more cost-effective and secure financial experience. The programmability of smart contracts enables innovative financial instruments and automated strategies. Additionally, the DApp's adaptability to market changes allows for quicker responses to evolving financial landscapes. This decentralized approach contrasts with centralized exchanges, offering users increased autonomy, reduced fees, and a more resilient and inclusive financial system.

What it does

The focus of our solution is leveraging Account Abstraction for Decentralized Trading, DeFi Access, Wallet Recovery, and Fiat On-Ramp

To tackle the issues outlined above and to usher in a new era of crypto trading, the Clo4er platform employs a groundbreaking approach, harnessing the power of account abstraction. This innovative technology serves as the linchpin for creating a fully decentralized trading platform with a seamless user experience while providing access to the vast array of DeFi services, secure wallet recovery options, and the added convenience of a fiat on-ramp.

We have created a decentralized application for trading, staking and automated investing that uses account abstraction powered by Chainlink, Polygon, Avalanche and Uniswap V3 . There are 3 strategies majorly on our platform:-

Account abstraction - Our platform creates a deterministic smart wallet for each user by signing in with an email address or social media account
Automated Dollar Cost average - Dollar Cost averaging is an investment strategy where the user buys an asset at certain time intervals to reduce risks, the assets are bought at different prices in small amounts to average the out the price. Our Platform streamlines the process with just one click, putting your investing portfolio on autopilot with Chainlink upkeeper.
Cross-chain transfers and swaps – The user can transfer BnM tokens between Sepolia, Fuji and Mumbai. The user can send BnM tokens with an external contract call between Sepolia and Mumbai. Note: Platform subscription fees – For the business model of the platform we introduced monthly subscriptions giving the user access to more advanced features of the platform. We use Chainlink upkeeper to automate monthly subscription payments

How we built it

Frontend: • Webapp using Next.js with JavaScript. • Thirdweb account abstraction SDK • Ethers.js to interact with contracts

Backend/Contracts: • Remix and Foundry for the development of the smart contracts • Solidity in building contracts • Chainlink for automating (using keeper) • CCIP

Challenges we ran into

We ran into some challenges using CCIP when trying to send a token with a message to call another function in a contract on the destination chain. We had to create a struct to abi encode the function call to include in the CCIP transfer/message. We had to deploy an admin contract on Sepolia, Mumbai and Fuji together with the sender and receiver CCIP contracts on these chains.

We are a multicultural team and live in different time zones, thus the coordination and support to the team were quite challenging at times.

Accomplishments that we're proud of

We are proud to have implemented CCIP token transfer with a function call cross chain.
Automated subscription fee systeem with Chainlink upkeeper

What we learned

We learned a lot about CCIP. This protocol requires the integration of burn and mint/lock and mint functionalities to work cross-chain. The finality time for cross-chain transactions can be a challenge when dealing with cross-chain swaps, this waiting time gives people time to front-run CCIP transactions.

What's next for Clo4r

• We are planning to add customised paymaster and bundler contracts (ERC4337) to the smart wallets to allow users to pay gas fees with ERC20 and bundle transactions (approval and transfer/swaps) to enhance user experience. • We want to add automated DCA (dollar cost average) functionality • We need to improve the UI/UX and customer journey • We are also determined to build a community so that we can onboard more people into DeFi and beta-test the platform. • We are planning to add customised paymaster and bundler contracts (ERC4337) to the smart wallets to allow users to pay gas fees with ERC20 and bundle transaction (approval and transfer/swaps) to enhance user experience. • We want to add automated DCA (dollar cost average) functionality • We are also determined to build a community so that we can onboard more people into DeFi and beta test the platform.