Onchain Investing

Leveling the investment playing field: Our blockchain platform makes diversified portfolios of stocks, bonds, and digital assets accessible to small investors.

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Inspiration

The idea of forming a team around an idea and developing something together is one thing that inspired us. Of course, all the possibilities we see in the near future with Blockchain/Crypto technology is what brought all of our team members together here on this BlockMagic 2024 hackathon. We also see the value in what Chainlink is doing, as the glue bringing the offchain and onchain worlds together, and inter-operability between chains which makes Chainlink a very interesting protocol/platform to be using for building our vision

What it does

We’re developing an investing platform that allows small investors to own diversified portfolios without needing mutual funds or ETFs. Our goal is to enable small investors to hold individual assets in diversified portfolios just like the portfolios of high-net-worth investors. We want to help make this type of investing more accessible.

How we built it

Starting with the smart contract built in a way to support Model Portfolios made up of multiple assets, that can include both crypto assets and tokenized real world assets. Having the smart contract capable of receiving some stable coin from a user and sending the individual assets in a Model Portfolio back to the user.

Challenges we ran into

Our team members were evenly split between Canada and India. The time zone differences combined with the fact that we have regular day jobs, along with some variations in work hours. All of that made it super challenging for us to meet. We had to compensate by having the best possible "Specs" on how the various pieces would be interacting/interfacing together.

Accomplishments that we're proud of

Our vision is not a small App that we can develop over 1 month, on top of regular day jobs. It is a whole platform that will require significant time commitments and certainly dedicated efforts. However, we're super proud of the fact that we were able to stay the course on keeping things as simple as possible, always challenging each other on ways to simplify further, and having achieved end-to-end connectivity in a way that reflects the core workflow that our end product will be based on.

What we learned

We have good ideas, but some can take more time to execute than others. For the ideas that are more complex or time consuming to deliver, always break them down and simplify them to be able to move up the next notch. Big leaps in progress can be alluring, but may not be achievable in the time frames you need to stick to.

What's next for Onchain Investing

For the business model we’re envisioning, two of the most critical components in our tech stack are: Arbitrum L2 chain because we need the lowest possible costs for our users’ onchain transactions, and Chainlink Data Streams because having access to current prices as and when needed is key for us. So we want to continue with our Chainlink Data Streams integration. Also migrate to Arbitrum L2 as one of our very next steps.

Other future goals are: Using decentralized data storage to save each user’s personal financial data history, so that our users can have ownership of their financial data. Also, developing our Portfolio App into a full-fledged portfolio monitoring and portfolio analytics app with each user having their own local database supported by data saved in decentralized data storage.

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