Inspiration
DAOs are a great way to connect and organize a group of people with the same interests and goals. Such organizations have many advantages over traditional ones: constructed by rules encoded as a computer program that is often transparent, controlled by the organization's members and not influenced by a central government, without centralized leadership. Although, people working for a DAO have to pay for real-life goods and services, such as food, travel, software subscriptions, etc. Given that precise legal status of this type of business organization is generally unclear, paying for such expenses can be a problem. Usually, a DAO member would pay in fiat and then get a reimbursement in crypto currency. So, there is a need for some kind of expense management system for DAOs.
What it does
ExpenseDAO is an expense management system for DAOs (Decentralized Autonomous Organizations). The app tracks and files expenses such as fuel, travel, and meals. Once users photograph receipts, the photos are uploaded and stored on a distributed storage using IPFS and Web3.Storage. OCR identifies the amount of the transaction, then user categorizes and saves the expense. The amount is automatically converted from USD to Hbar and saved to the smart contract. It also allows users to upload receipts from online purchases that can be submitted for reimbursement. Once approved, the amount of the reimbursement request gets automatically sent from DAO's wallet to the user who created the request. Currently, only payments in Hbar are supported. ExpenseDAO allows users to see all expense reports based on user transactions. On organization creation, user roles have to be assigned. Inside ExpenseDAO, a member of a DAO can be registered either as an Approver, which gives the power to approve or deny expenses, or a Member role, which represents a regular member who can create a new reimbursement requests. HashPack wallet is currently supported as the only sign-in method.
How we built it
Technologies: React, Solidity Project developed with: Hedera, Remix IDE - to build smart contracts, IPFS and Web3.Storage
Challenges we ran into
Integration with HashPack wallet was quite challenging.
What's next for ExpenseDAO
- Implement payments in USDC
- Optimize smart contract gas usage
- Improve receipts recognition
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