B.Protocol is working on the development of a decentralized protocol for backstop liquidity that collates multiple lending protocols. The decentralized protocol of B.Protocol seeks to create a model to procure extra yield for borrowers and lenders associated with lending platforms. At present, the users of lending platforms receive sub-optimal value rewards from the platforms owing to the liquidation process that offers low incentives to liquidators for supporting liquidation and encourages miners through bidding on gas wars. EPNS, the decentralized platform of push notification services, has announced the development of a program for providing decentralized push notifications for supporting the lending protocol model of B.Protocol.
The decentralized protocol for backstop liquidity by B.Protocol allows the backstop liquidity providers to liquidate the under-collateralized loans at MakerDAO, Compound, and other platforms. With the deployment of B.Protocol’s lending protocol, the profits have increased as the liquidators do not bid up the gas prices anymore to the highest priority transaction. The backstop liquidity providers share their high profits with the users of the platform. Due to the sharing of profits, the borrowers and lenders gain an extra yield over the standard interest rates.
At lending platforms like Compound, the backstop liquidity provider liquidates its position at B.Protocol and shares the profits upon reaching the liquidation price. Due to the shift of the profits from the gas wars and miners to the users, the loan stakeholders can earn more. The smart contract of B.Protocol interconnects multiple lending platforms to provide borrowers and lenders with a choice of fees and interest rates. The management of liquidation and lending involves exchanging messages across different platforms without any centralized message passing service. EPNS ensures decentralized push notification for the exchange of messages that involving the following notifications and more as listed below:
- Data price feeds like fees for liquidity pool and favorable rates of lending interest.
- Notifications in real-time about gas prices and transaction statuses.
- Notices of liquidation auctions and events.
- Liquidation alerts and ratios of collateralization.
B.Protocol is excited about the partnership with EPNS and is looking forward to providing users with notifications in real-time. The push notifications shall enable the users to receive timely notification and take quick action regarding their lending operations while preserving data confidentiality as the users of B.Protocol interact only with external and internal data sources. The push notifications of EPNS are transmitted directly to the cryptocurrency wallet of the investors.
