coreum

Prop 20: Bidds permissionless borrowing & lending protocol for tokenised assets

To the Coreum Community,

Bidds is requesting $125,000 USD (675,675 COREUM at $0.185 USD) from the 2.2M USD community pool to launch a Lending & Borrowing Protocol - a critical piece of DeFi infrastructure that will expand Coreum’s ecosystem, integrate Solotex tokenized stocks, boost on-chain utility, and attract more users.

What is Lending & Borrowing? A lending and borrowing protocol is a decentralized platform where users can lend their digital assets to earn interest or borrow assets by locking up collateral worth more than the loan. Smart contracts handle everything automatically - setting interest rates based on supply and demand, and liquidating collateral if its value drops too much.

This setup benefits both sides: lenders earn passive income on their holdings (USDC, Coreum etc), while borrowers gain quick access to liquidity without having to sell their holdings. By adding tokenized stocks into the mix, we open the door for more diverse collateral options, broader participation, and a stronger, more resilient decentralized economy.

Our Plan

  • Phase 1: Launch on-chain lending and borrowing for all Coreum tokens and integrate tokenized stocks, currently being developed by Solotex, into the lending and borrowing system, depending on their token standard. Enabling stocks to be used as collateral.

  • Future iteration: Introduce a decentralized leverage trading platform, starting with the COREUM and SOLO tokens and increasing this to other smart tokens like stocks if sufficient liquidity and demand is there.

Why This Matters for Coreum DeFi lending is a proven catalyst for liquidity and ecosystem growth. With the upcoming Solotex launch, we’re setting a new standard for lending and borrowing against tokenized stocks. Here’s how this creates real impact:

“Imagine you buy $2,000 worth of Apple stock, but a new opportunity comes up and the earnings call is approaching. Instead of selling your shares, you can borrow against them to get liquidity, then repay the loan the next day at minimal cost.”

Adding this capability to Coreum will strengthen its position as a versatile blockchain for both retail and institutional use, while creating yield opportunities for holders and new use cases for tokens.

Track Record Bidds is a proven builder and has already delivered a variety of products for the Coreum ecosystem:

  • Built the Coreum NFT Marketplaces
  • Launched Coreum Domains
  • Operates a Coreum validator
  • Operates two relayers
  • Developed the XRPL <> Coreum NFT bridge (actively used by UNIs and Degens)

Budget For completing the first phase, we have estimated a requirement of USD $125,000 in resources, allocated as follows:

  • $65k Smart Contracts, Architecture, and Backend
  • $20k Design + Frontend
  • $25k Integration, Testing, and Auditing
  • $15k Deployments, DevOps, and Miscellaneous

The full development cycle is expected to span approximately three to four months (depending on audits and testing), covering all of the above phases from initial setup to final delivery.

We’ve consistently delivered working products and proven our long-term commitment to Coreum. With this funding, we can move quickly to deploy an essential DeFi primitive that will unlock significant value for the community.

Thank you for considering our proposal.

Bidds: https://x.com/BiddsonCore