Defi Flash Loan App

For Reltime, we developed a Defi Flash Loan App that allows users to lend and borrow money from each other. This application allows users to log into the platform by connecting their wallets.

The Client

Reltime AS is a Norway-based fintech company offering a Web3 financial ecosystem. The company aims to empower anyone worldwide to regain control of their finances. Right now, everything is controlled by financial institutions, and Reltime wishes to change the status quo. We worked with Reltime to help them launch a Defi flash loan app.

The Business Requirement

Reltime realized that the current crypto ecosystem has 3 major challenges - low accessibility, high transaction costs, and high transaction time. The company believes the next evolution of money would solve these problems with the current financial system. Reltime aims to solve these problems using an innovative crypto model. The company wants to launch a global, open, permissioned, interlocking, Web3 ecosystem. This monetary system is built on blockchains, which anyone can access, and does not require middlemen such as traditional banks. In the ecosystem, users can invite others instantly and securely based on biometric technologies and facilitate a more secure financial instrument for everyone.

In the project's first phase, the client wants to develop a defi flash loan app that allows seamless lending and borrowing. The application allows lenders to list the Reltime tokens they own in the platform and gain interest from borrowers. This will be a platform that helps users trade and lend with crypto tokens.

The Project: Defi Flash Loan App

For Reltime, we developed a Defi Flash Loan App that allows users to lend and borrow money from each other. This application allows users to log into the platform by connecting their wallets. Users will be able to act as lenders and can view the listed assets and their details. Lenders can select the asset, set the interest rate, and lend it to the platform. Users can also act as borrowers and view all the platform's assets. After inserting a certain guarantee fee (Reltime token) into the Escrow Account, the user can borrow the asset.

Defi Flash Loan App development

Users will be able to view the active borrowing and the wallet balance. There will be a valuation process after the lending and borrowing of the assets. Borrowers can gain profit when the valuation goes above the interest rate. The amount will be automatically reserved from the borrower's Escrow account whenever the valuation goes below the interest rate. The key features of the app are

  •  Create a user wallet in minutes
  • Move and send money
  • Pay and get paid in seconds
  • Lend, borrow (with or without collateral)
  • Earn money to/from your phone contacts
  • Create your private financial ecosystem
  • Swap your digital assets with anyone in the world

Reltime Defi Flash Loan App

The admin can log into the application to manage registered users, view user profiles, and block any users if needed. An admin can view all items listed in the lending marketplace, active borrowings, and all transactions. Admin can also set the token's interest rate, the payment terms (like the number of installments), the collaterals, and the payment date. Likewise, an admin can view and manage the borrow requests and view detailed analytics of active/inactive users, borrowing, transactions, and RTC purchase analytics. We also developed the RTC cryptocurrency that powers the transactions in the Reltime ecosystem. RTC token is currently listed on 10+ prominent crypto exchanges. 

Defi Flash Loan App design


Why Accubits?

As a blockchain development company, Accubits has the expertise and experience required to develop cutting-edge blockchain dapps. Our knowledge and investment in advanced technologies help us to provide unique operational models for all our customers, enabling them to gain maximum profit at optimal efficiency. 

The Result

Phase one of the project was successfully completed by developing the Reltime cryptocurrency(RTC) and the defi lending and borrowing app. The RTC cryptocurrency is listed in the Coinmarketcap crypto exchange. The apps are launched in the Google play store and the Apple app store.


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Frequently Asked Questions

What are the advantages of having a defi flash loan app?
  • Liquidity Provision: A Defi flash loan app allows users to access immediate liquidity without requiring collateral, enabling them to leverage their existing assets effectively.
  • Efficiency and Speed: Flash loans eliminate the need for traditional loan approval processes, allowing users to execute loan transactions quickly and efficiently, often within a single Ethereum block.
  • Cost-Effectiveness: With flash loans, users can avoid traditional intermediary borrowing costs, reducing fees and interest expenses.
  • Accessibility: Flash loans offer financial services to a broader range of users who may not have access to traditional banking systems. It promotes financial inclusion and empowers individuals worldwide.
  • Arbitrage Opportunities: Traders can leverage flash loans to exploit price discrepancies across different decentralized exchanges, maximizing profit potentials in the Defi market.
  • Risk Management: Flash loans can mitigate risks by leveraging instant liquidity to address potential liquidation events, repay outstanding debts, or arbitrage opportunities in real time.
  • Innovation and Experimentation: The availability of flash loans encourages developers and entrepreneurs to explore new Defi use cases, experiment with novel financial products, and drive innovation in the decentralized finance space.
  • Transparency and Security: Defi-based flash loan apps leverage the security and transparency benefits of blockchain technology, ensuring that transactions are immutable, auditable, and resistant to tampering.
  • Peer-to-Peer Lending: Flash loans facilitate direct lending and borrowing between individuals, eliminating the need for intermediaries and enabling peer-to-peer interactions.
  • Customizability: Defi-based flash loan apps can be tailored to suit specific business requirements and integrated with other Defi protocols, allowing for seamless interoperability within the decentralized finance ecosystem.

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iOS, Android Loan Apps

DeFi Lending and borrowing

Payments cards integration

Biometric security measures

Technologies Used