⚙️Challenges

Challenges Faced

During the development of Mosaic, we encountered several significant challenges that shaped our journey towards creating a robust and efficient loan lending platform. Here are the key challenges we faced and how we addressed them:

1. Working with Decimals

Challenge: As the whole contract works with Uint128 here there were a lot of decimals so working with them was pretty challenging overall and we had to do some calculations in JS

Solution: We performed the calculations of the dyanamic collateralization/interest in the JS module rather than the cosm wasm contract .

2. Implementing Staking Rewards and Token Valuation

Challenge: Designing a mechanism for providing staking rewards and establishing a tangible value for the minted token proved to be complex and time-consuming.

Solution: We adopted a methodical approach by researching industry best practices and consulting with blockchain economists. This enabled us to devise a staking rewards system that aligns incentives for users while ensuring the sustainability and growth of the platform. Implementing mechanisms to attribute real-world value to our minted token involved market analysis and integration with decentralized exchanges (DEXs) to establish liquidity and trading pairs, enhancing token utility and user engagement.

3. Integrating Vault Code for Token Management

Challenge: Leveraging ArchwayJS for utilizing our vault code to manage token transfers during withdrawals presented a novel technical hurdle for our team.

Solution: We undertook comprehensive training and experimentation with ArchwayJS functionalities. This enabled us to successfully integrate our vault code, facilitating seamless token transfers for user withdrawals. Through diligent testing and collaboration with ArchwayJS developers, we optimized our implementation to ensure secure and efficient token management within the platform's vault system.

4.Contract Development on Archway

Challenge: Initially, we struggled with writing contracts on Archway, a new platform for our team. This posed challenges in understanding and implementing smart contracts effectively.

Solution: To overcome this challenge, we invested time in learning Archway's smart contract development tools and resources. We sought guidance from Archway documentation, community forums, and engaged with experienced developers to enhance our proficiency in contract writing. Through iterative testing and peer reviews, we refined our contract code to ensure reliability and security.

Conclusion

Navigating these challenges required dedication, collaboration, and a commitment to learning and innovation. By addressing these obstacles head-on, we strengthened our development capabilities and fortified Mosaic as a dependable and user-centric loan lending platform in the decentralized finance (DeFi) ecosystem. As we continue to grow, we remain focused on overcoming challenges and delivering value to our community of users and stakeholders.