The pension system all over the world has been affected for so many years, yet without an end in view. Amongst the factors, one has a huge negative effect no matter how perfect the pension system proves to be. Inflation is the biggest challenge that is facing the pension system in under-developed regions around the globe(Africa as a point of interest).

So to have a perfect pension plan that is truly for pensioners, there has to be another way. Beima aims to solve this by allowing civil servants, and entrepreneurs to save their pensions in stable coins and earn interest without the need for any intermediary.

What it does

Beima is a decentralized protocol that aims to solve the problems facing traditional financial systems all around the globe, by providing a transparent and high-yielding interest pension & savings solution. This platform promotes great financial practices, and the use of standard metrics that combines with other off-chain and on-chain data. It contains verified credentials from different sources. Our team is addressing a grand global challenge related to access to financial services under fair conditions, inequality, and bad financial practices that destroy the entrepreneur and business ecosystems.

How we built it

Using Smart Contracts & Polygon Network: Polygon provides an easy-to-use protocol (low transaction fees) that is even compatible. We deployed our test contracts on the Polygon test net with the help of the Polygon docs. Tests were also run to check for vulnerabilities on the contracts and also we included design pattern decisions and ways we avoided common attacks on solidity.

Challenges we ran into

UX design, since the concept of WEB3 and blockchain is a challenge to integrate all the previous knowledge into the new high-demand visual quality and order, we designed several views of how the web app should look like. Integrate ideas, since the team has different experiences in the field of blockchain and usage in real-world scenarios, it was a challenge to merge all the ideas into one concept and build the final test product. Design the program architecture of the smart contract. Time. We made the extra mile by putting more time into the project, it was difficult since the time needed to watch the video tutorials and get all the workshops provided on the hackathon on youtube was high demand and consumed a lot of time but we were able to handle it.

Accomplishments that we're proud of

We were able to deploy the Smarts Contracts, connect it with the Metamask wallet and collect data with oracles and API. We worked hard to deploy the program to run the smart contract for the defi option plus all the experience and amazing tutorials and workshops we were part of during the last 5 weeks.

What we learned

Getting started with Polygon. Rust Smart-Contracts. Create an Aurora dApp from scratch. Installing Near-Cli. Intro to Rust. Intro to Aurora - How to manually bridge tokens Ethereum, Aurora, and Near blockchain networks respectively. Learned a lot about web3 and how it works, picking up a bunch about GraphQL.

What's next for Beima

Our goal is with the finance we receive from the hackathon, to complete the full deployment of the service website, register the company base and start building our audience, our goal is to reach 100 thousand users on the platform by the end of the last quarter. Also, implement corrective actions if needed and track all the realized benefits by the end of the year 2022. Funding and support from the community, community feedback, and improvement.

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