Lending Platform on Gno.land Note: This specification is an initial draft and may contain incomplete, ambiguous, or incorrect details. Certain aspects may be included in the implementation but not documented here, while others may be described but not implemented. This document will be continuously updated as development progresses and my understanding of the subject expands. 1. Protocol Overview GnoLend is a non-custodial lending protocol on Gno.land that facilitates lending and overcollateralized borrowing of crypto assets. The protocol operates through isolated lending pools, where each pool contains a single GRC20 token. When users deposit assets into a pool, they receive interest-bearing gTokens, which represent their share of the lending pool. These gTokens accrue interest via a static rate mechanism and are transferable as GRC20 tokens. Users can borrow assets from any pool by providing collateral that exceeds their borrowed position value, with borrowing limits determined by asset-specific Loan-to-Value (LTV) ratios. Lending Pool State Variables Each lending pool maintains the following key data:

Account abstraction (AA) is a transformative concept in Ethereum, aimed at simplifying and enhancing user experience while enabling unprecedented flexibility for developers. By revisiting the architectural constraints of Ethereum's account model, AA proposes a more dynamic and programmable approach to accounts. It’s a solution born from years of grappling with the limitations of externally owned accounts (EOAs) and contract accounts (CAs), pushing the boundaries of what’s possible on Ethereum. 1. The Origins of Account Abstraction Ethereum's account model divides accounts into two categories: EOAs: Controlled by private keys, EOAs are used by individuals to send transactions and pay gas fees. They are simple but rigid, with their behavior hardcoded into the protocol. CAs: Governed by smart contract code, CAs execute logic defined within them but cannot initiate transactions independently or pay gas fees. This rigid separation served Ethereum's early goals but soon revealed significant limitations. For example, the reliance on private keys led to issues with wallet recovery and security. The inability to program custom account behavior meant developers had to rely on clunky workarounds to implement features like multi-signature wallets or gas payment in tokens other than Ether.