v1.3

PWN Strategies: Enhancing P2P Lending with Pool-Like Experience

This release marks a significant advancement in PWN's mission to bring a pool-like experience to P2P lending. By introducing innovative features and leveraging external data sources, we're revolutionizing the way users interact with decentralized lending platforms.

New features

• Shared Utilized Credit: We've implemented a system where multiple proposals can share the same credit liquidity. This feature enables:
  • More complex lending strategies across various collateral types
  • Efficient use of available credit
  • Increased flexibility for both lenders and borrowers.
• Elastic Chainlink Proposals: Integrating Chainlink price feeds, we've created a new proposal type that dynamically adjusts to market conditions:
  • Real-time LTV (Loan-to-Value) calculations based on current asset prices
  • Constant LTV maintenance throughout the proposal's lifetime
  • Enhanced risk management for lenders and borrowers

Bug fixes

This release includes fixes for two critical bugs found in Ackee security audit. You can find more informations about the findings in the audit repot.

Full Changelog: v1.2...v1.3

v1.2

The Next Era of the PWN Protocol: Revolutionizing DeFi Lending

This masive release introduces a suite of powerful updates and innovative features, propelling the PWN protocol into a new age of decentralized finance.

New Features

• Refinancing: Seamlessly repay existing loans by initiating new ones using the same collateral. Optimized transfers for identical lenders streamline the settlement process.
• Auto-claim: Automatic transfer of repayments to the original lender's address when they own the LOAN, eliminating the need for claim transactions.
• Daily Interest Accrual: Loans now feature dual interest types: fixed (added to principal) and accruing (grows over the loan duration).
• Loan Extension: Extend active loans with optional borrower compensation in any asset.
• ERC5646 Support: Utilize state fingerprints for uniquely identifying dynamic collateral states during loan creation.
• Available Credit Limit: Define credit limits for proposals, facilitating larger-scale lending operations.
• Nonce Space Management: Enhanced nonce handling with revocable nonce spaces for improved security.
• Multiproposal Mechanism: Leverage merkle trees to sign unlimited proposals with a single signature.
• Source of Funds Integration: Lenders can now specify funding sources through IPoolAdapter implementations, including Aave, Compound, and ERC4626 vaults.

New Proposal Types

Fungible Offer

• Designed for fungible or semi-fungible collateral
• Defines credit-to-collateral ratios instead of specific values
• Allows borrowers to customize credit amounts

Dutch Auction

• Sets initial and final credit amounts for specified collateral and auction duration
• Credit amount decreases gradually until reaching the minimum
• Enables price discovery and allows acceptors to optimize for better terms

Full Changelog: v1.1...v1.2

v1.1

Enhanced Event Logging

This minor release enhances the LOANCreated event by adding factoryDataHash and factoryAddress properties. These additions help identify which loan terms factory was used during loan creation.

• factoryDataHash: identifies loan terms used
• factoryAddress: traces the specific factory used

Full Changelog: v1.0...v1.1

v1.0

PWN Protocol: A Revolutionary Architecture Update

The latest iteration of the PWN protocol marks a watershed moment in its development, introducing a paradigm shift in its architecture. This update prioritizes modularity and contract reusability, setting a new standard for decentralized finance (DeFi) protocols.

Key Components and Innovations

Loan (Vault) Contract

• Serves as the cornerstone of the loan lifecycle
• Securely holds collateral assets
• Manages loan terms with precision and flexibility

Loan Offer/Request System

• Introduces a separate contract for loan proposals
• Enhances extendability without disrupting existing Loan contracts
• Facilitates seamless integration of new features and improvements
• Allows creating signed off-chain proposals, saving gas and increasing user experience

PWNHub

• Acts as a sophisticated access control mechanism

PWNConfig (Proxy)

• Implements a proxy pattern for storing configuration parameters
• Enables dynamic updates to protocol settings without system-wide redeployments
• Increases adaptability to changing market conditions and user needs

LOAN Token (ERC-721)

• Represents loan ownership as a non-fungible token
• Enhances liquidity and transferability of loan positions
• Opens up new possibilities for secondary markets and derivative products

RevokedNonce Contracts

• Implement an advanced nonce revocation system
• Mitigate replay attacks, bolstering protocol security
• Enable invalidation of off-chain signed offers/requests, adding a layer of user control

This architectural overhaul not only addresses current limitations but also lays a solid foundation for future innovations. By emphasizing modularity and reusability, the PWN protocol is poised to adapt swiftly to the ever-evolving DeFi landscape, offering users a more robust, flexible, and secure lending platform.

Full Changelog: https://github.com/PWNDAO/pwn_contracts/commits/v1.0