P2P Lending Platform: Zero-Knowledge Features Overview

Introduction

Our P2P lending platform leverages the Mina Protocol to ensure maximum privacy and security for our users. Through the use of zero-knowledge proofs (ZKPs), we offer a system where borrowers can engage in transactions, verify their creditworthiness, and transfer assets without compromising their personal and financial data. This document outlines the key features designed specifically for borrowers, providing guidance on how to utilize these features effectively.

Key Features for Borrowers

1. Creditworthiness

Objective: Enable borrowers to prove their creditworthiness without revealing sensitive financial information.

How It Works:

• Borrowers submit encrypted data regarding their financial history, which the system uses to calculate a credit score.
• A ZKP is generated to prove that the borrower's credit score meets the platform's requirements.
• Lenders can verify the proof without seeing the borrower's actual financial data.

What Borrowers Should Do:

• Ensure that your financial information is up-to-date and accurately reflects your current situation.
• Submit the required data through our secure portal. Rest assured, this data remains encrypted and private at all times.
• Use the generated ZKP to apply for loans on the platform.

2. Privacy - ZK

Objective: Maintain the privacy of borrowers' transactions and interactions on the platform.

How It Works:

• All transactions and interactions are encrypted and facilitated through ZKPs.
• Borrowers and lenders can interact, negotiate terms, and finalize loans without revealing unnecessary personal information.
• The system ensures that only relevant information is shared in a way that upholds the privacy of all parties involved.

What Borrowers Should Do:

• Utilize our platform's messaging system for communication with lenders to ensure that all conversations are encrypted and private.
• Review and understand the information that will be shared with lenders during loan negotiations.

3. Asset Transfer

Objective: Securely transfer assets as collateral or loan repayments using ZKPs.

How It Works:

• Borrowers can pledge assets as collateral without revealing the assets' details or transferring ownership until the loan terms are met.
• Repayments are verified through ZKPs, ensuring that transactions are completed without disclosing payment amounts or personal account details.

What Borrowers Should Do:

• Select the assets you intend to use as collateral or for repayments within our platform.
• Follow the on-screen instructions to initiate a transfer or repayment. The system will guide you through generating and submitting the necessary ZKPs.

Dashboard Overview

Objective: Provide borrowers with a comprehensive overview of their activities and financial status on the platform.

Features:

• User Accounts: View your encrypted credit score, current liabilities, and other financial metrics in one place.
• Loan Specifications: Access details of pre-created demo loans, including rates and terms, to understand potential loan agreements.
• Transaction History: Monitor your asset transfers and loan repayments, all verified through zero-knowledge proofs.

What Borrowers Should Do:

• Regularly check your dashboard for updates on your loans, offers from lenders, and changes in your financial metrics.
• Use the dashboard to manage your loans, repayments, and communications with lenders.

Using Mina Protocol

The Mina Protocol is the backbone of our platform's privacy features. Its succinct blockchain ensures that users can verify the integrity and privacy of transactions efficiently, without the need for extensive computational resources.