Veridex wanted to integrate DeFi protocols on their platform to offer users a way to lend and borrow assets, we decided to apply for a grant to Aave to support the integration on our open-source platform,  and we proudly received a positive answer from them, so Thank You.

Veridex will have on the main page a DeFi menu for easy navigation to the new lend and borrow feature. Currently, we already integrated lend feature from Aave and it is on test phase before shipped for production. On that page, you can deposit, withdraw, and buy tokens. Deposit it will give you access to the Aave interest on the supported tokens and return you Atokens representing the underlying asset but with interest accrued at second. If you don’t have tokens you can buy it with ETH using our buy aggregator liquidity feature, which fetches the best price from all available liquidity dex pools and gives you the best price. A screenshot of the current implementation is shown below:

Additionally, we are working on the borrow feature, this will enable any user to leverage positions on any assets supported by Aave protocol or Veridex, you, for instance, can deposit Dai, borrow ETH and use the borrowed ETH to buy any token supported on Veridex platform, if the token evaluates in the meantime you can sell it for ETH, pay your borrow and if the valuation is bigger than the costs of the loan you will be on profit or in loss if the price evaluates in meantime. All these interactions could be done on the Veridex platform without the need to go to another platform. A screenshot of the current implementation on Ropsten is shown below:

For real-time updates, you can check on the pull request: https://github.com/VeriSafe/VeriDex/pull/50

Disclaimer: Lending and Borrowing is not risk-free, please evaluate all risks before deposit all of your savings in DeFi protocols. The same applies to borrow, besides the protocol risks, there is the risk of liquidation penalties when your borrow interest is superior to the principal liquidity available that you deposit.