[Update] Beta launch of Tranzo on Aave V2 Polygon Market

Aave Grants DAO
1

Summary:

Tranzo (http://www.tranzo.fi/) is tooling that helps users of Aave to transfer their positions (supplies and borrows) from one address to another, using Aave Flash Loans and Credit Delegation. We were born out of the ETH-India hackathon and have received a grant from AGD.
Excited to say that we have successfully launched the beta version of Tranzo on Aave V2 Polygon Main Market and we’re very grateful for the support from AGD for making this happen.

Use Case:

Aave users can leverage Tranzo to transfer their positions across addresses they own.

  • If an Aave user has positions on a browser wallet i.e Metamask and if they wish to transfer it to a safer hardware wallet like a Ledger they can use Tranzo to transfer their positions, including both aTokens and debt tokens.

  • Users addresses which are sometimes mistakenly blocked by the UI could leverage Tranzo to transfer their positions to a newer address, thus making Aave more trustless for a retail user.

How it Works:

Debt tokens on Aave are non-transferrable which makes transferring debt across addresses difficult.
Tranzo works by taking a flash loan to repay users debt on the address they want to transfer from and then moves their collateral to the newer address. After transferring thier collateral to the newer address the Tranzo contract opens all the stable and variable debt positions on the newer address using credit delegation and repays the Flash Loan. The Flash Loan fees is repaid by the small increase in the users debt position on their newer address.

Future milestones:

Currently, Tranzo is only live on Aave V2 Polygon Mainnet, we’ll be

  • Launching on other V2 Markets including Ethereum, Ethereum AMM, and Avalanche.
  • Launching on Aave V3 for all the Markets.

Github: https://github.com/Tranzo-Fi/
Website: https://www.tranzo.fi/
Twitter: https://twitter.com/TranzoFi

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