Mages

With the lack of Web3 accounting tools and disorganization across the chains, Mages is a good foundation for any business that also deals in crypto. Creating value while making the world better place.

Comment

Inspiration

Nowadays, we can witness that many companies are using cryptocurrencies. But the tools that are suitable for them are few.

With the lack of Web3 accounting tools and disorganization across the chains, Mages is a good foundation for any business that also deals in crypto.

We therefore decided to make a Dapp that allows each individual or company to better manage their cryptocurrency flows. We also create a new way for companies, where the donation system can benefit everyone without any money loss and a constant flow of donations.

We were building the Dapp that brings value and adoption while thinking how we can contribute to have a better world and help people.

What it does

Mages is an accounting Dapp designed to manage all your assets as well as manage individual transactional data and payroll as well.

It allows them to manage:

  • Assets
  • Invoices and payments
  • Bills
  • Employees
  • Bank accounts
  • Donations
  • DeFi investments
  • NFts
  • Products

So companies and individuals can manage at the same time their bank account but also their crypto wallets. Make it easy for them to pay their employees and in different ways. Mint NFTs so their employees can take advantage of the discounts they are having with partners or even give special access to events.

How we built it

Built with Moralis as the backend and React making up the frontend. Our smart contracts interact with Compound on the Ethereum chain; Aave, Cream, and Truefi are also planned in combination and for the other chains though as well using Chainlink for comparing lending rates. We have a selected list of tokens accepted in the lending, consisting mainly of stablecoins(TUSD Included) and native tokens as well as SUSHI. Chainlink is used to fairly distribute the compounded interest from the vaults among the donation organisations selected. Our employees are getting their pay using SuperFluid. We can add Unicef, Heifer and more for donations. TheMages.png

Challenges we ran into

Time mostly and also access to information, like charity addresses, hopefully we talk to them soon. Adapting the business to crypto.

Each of us is used to working on his own, so working as a team , not knowing each other, was a challenge for us but it went better than we thought. We are getting better working as a team, solid foundation to work on, better organisation and coordination. Most of us never used or started learning React but we did a great job with the frontend. Making the video for the demo the hackathon was harder than we thought, was hard to talk about and show all our features in less than 5 min.

Accomplishments that we're proud of

We are 3 mages with all different skills and timezones, perfect strangers at the start, achieving what we did is a great accomplishment for us. Seeing our idea becoming more and more a reality. We found a way to help companies and make them benefit from the beauty of blockchain. But also give them a way to help humanity. We found a system of donation where there is always money accumulating and sent.

What we learned

We are happy we went even further on learning Moralis tech but also discovering new ones like Chainlink and Superfluid. We now know better how to work as a team. Nothing is impossible, we just need to go for it. Try until we achieve it.

What's next for Mages

Improvements! Plenty to be made and expanded upon, primarily being a Dex aggregator, Lending across all chains, and a DAO (creating a token for companies that donated) to control the direction of the Charity Vaults. Using more from Chainlink and aggregate lending rates. Talk to the donation organisations, see where we can help. We also didn’t get the time to add the « Connect to bank » feature even if we know how to do it. Have a good documentation for our Dapp. Provide a service to help companies that just joined the world of cryptocurrency. Use the “Certificate of donations” to reduce taxes. We hope to make our team ever bigger so we can offer a better Dapp and more features and services to Mages. (more security (audit of smart contracts), having even better UI/UX, ..) We would love to have more support and people joining what we believe in, sharing our mission and vision. (look for investors, partners, ..) Participate in more hackathons to learn and add even more techs.

Share this project:

Updates