16/03/2025
Overview
We need a developer to build a Phase 1 Minimum Viable Product (MVP) for an auction website where buyers provide loans to sellers, tracked via smart contracts on the Polygon blockchain. The platform features $10,000+ loans with seller-proposed terms (amount, rate, term) and collateral (crypto at 150% value, e.g., $15,000 USDC, or real property via attorney-drafted liens), buyer counteroffers, and an invite-only membership system. Attorneys handle lien creation and payoffs off-chain. The goal is a functional, cost-effective MVP for 10-50 initial users.
Scope of Work
User Interface (UI):
Seller Dashboard: Listing form (loan terms, collateral), counters tab, loans tab, invite code generation.
Buyer Dashboard: Auction browser (filterable listings), counter form modal, bids/loans tabs.
Attorney Portal: Lien verification queue, payoff tracking, earnings summary.
Admin Dashboard: User management, loan oversight, attorney coordination, financials, invite code issuance.
Use React + Bootstrap for responsive, simple design.
Smart Contracts:
Deploy on Polygon (testnet initially).
Features:
Crypto collateral staking (e.g., $15,000 USDC for $10,000 loan, 150% ratio).
Loan funding on buyer acceptance or counter approval.
Repayment logic (monthly unlock of collateral).
Default handling (collateral to buyer after 30-day miss).
Attorney approval flag for real property liens (off-chain signal triggers contract).
Include 1% origination fee ($100/loan, split $75 platform/$25 attorney).
Invite-Only Membership System:
Database-Driven Approach:
Store invite codes in SQLite (table: code, inviter_id, used_by_id, status).
Admin generates initial codes (e.g., 20) via dashboard.
Users generate 2-3 codes each from their dashboard (hardcoded limit).
Registration form validates codes against SQLite; marks as used on success.
UI: “Generate Invite Code” button (seller/buyer dashboard), “Enter Invite Code” field (registration).
Backend: Node.js endpoints (/generate-invite, /validate-invite) with SQLite queries.
Backend:
Node.js + SQLite for off-chain data (invites, lien PDFs, user status).
Integrate Web3.js for Polygon interactions (staking, funding, repayments).
Manual attorney lien approval (e.g., email flag updates contract).
Features:
Seller proposes terms/collateral; buyers accept or counter once (48-hour seller response).
Collateral: Crypto (USDC) staked on-chain; real property liens uploaded as PDFs, verified by attorneys.
Notifications: Basic email alerts (auctions, counters, repayments) via SendGrid free tier.
Tech Stack
Front-End: React, Bootstrap (responsive UI).
Back-End: Node.js, SQLite (lightweight DB).
Blockchain: Polygon (Solidity, Web3.js for contract calls).
Hosting: Vercel or Netlify (free tier for front-end), $5/month VPS for Node.js/SQLite.
Deliverables
Deployed MVP on Vercel/Netlify with Polygon testnet contracts.
Source code on GitHub (React app, Node.js backend, Solidity contracts).
README with setup instructions (e.g., npm install, testnet deployment).
Basic testing (5-10 dummy users, 2-3 loans funded).
