#dApp #DeFi Case Study
Building, Funding, and
Ecosystem Development
with Huma Finance
57Blocks goes beyond just product development to actively contribute to the growth and success of early-stage startups like Huma. This case study explores the four pillars of 57blocks unique and multifaceted partnership with one of the foundational protocols in the decentralized finance (DeFi) space.
Four Pillars of Collaboration
Product Development
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Value-Added Investment
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Ecosystem Acceleration
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Unlocking Partnerships
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Core Smart Contract and dApp Development
57Blocks partnered with Huma’s co-founder Richard Liu in the development of Huma’s smart contract protocol and platform, providing technical expertise and contributing to the core codebase.
Created the core smart contracts for the creation and management of credit facilities.
Created composable contracts for managing credit lines and receivables to support different types of credit
Developed unit and integration tests for smart contracts to ensure that each component and their combinations function correctly and securely.
Smart contract testing is crucial to prevent hacks and malicious behavior from compromising blockchain-based assets and transactions.
Optimized smart contracts to reduce the amount of gas required to execute functions.
Lower gas costs increases profitability as well as the scalability and usage of the protocol.
Designed and built the Huma dApp frontend in React.
Integrated a number of common tools to make the user experience seamless, including Metamask and WalletConnect for wallet interactions and Alchemy nodes to listen for transactions submitted by users and update the user interface proactively.
Built the Huma SDK, a collection of tools, libraries, and documentation that enables developers to build applications that interact with the Huma smart contracts.
The Huma SDKs drive the adoption of Huma’s credit protocol ecosystem.
Built the Huma subgraph to create an API layer for the Huma dApp and partners.
The subgraph indexes on-chain data in a decentralized format that can be retreived efficiently using GraphQL, mitigating the need to query centralized databases or directly on-chain, which can be time intensive.
Huma Architecture Diagram
Value-Added Investment
57Blocks Capital, the investment arm of 57Blocks, participated in Huma's seed round, providing Huma with crucial resources for further development and growth.
57Blocks further strengthens its commitment by acting as a liquidity provider for Huma's liquidity pools. This directly enabled Huma to increase the amount it could lend to it’s ecosystem partners.
Ecosystem Acceleration
57Blocks has been active, developing partner applications within the Huma ecosystem, such as Jia Finance, which leveraged Huma’s credit facilities to build innovative financial solutions for SMBs in Africa. Helping develop both Huma and Jia benefits both parties as increased lending volume on Jia increases the utilization of credit pools on Huma.
Unlocking Partnerships
57Blocks leveraged its extensive network and industry relationships to facilitate valuable introductions for Huma. After introducing Huma to Rain, the leading corporate card for web3 companies, the two parties were able to launch a credit facility on Huma to extend Rain’s credit offerings. These strategic partnerships like these further expand 57Blocks clients’ reach and unlock new growth opportunities.
Huma has over $100M in loans originated and repaid with 0% default rates just 6 months after launch.
The partnership between 57Blocks and Huma Finance serves as a prime example of how deep partnerships with clients can accelerate progress.