Tipa Finance

Tipa Finance

Inspiration

Tipa Finance was inspired by notoriously slow access to liquidity for commodities & tradeable goods that are either seasonal or take some time to mature and value extraction can occur i.e crops/minerals e.t.c. For most organizations in the industry, before harvesting/extracting their products they have to wait till they sell them on their designated markets to get access to capital or opt into very expensive loans which do not work in their favour.

What it does

Tipa Finance provides commodity producers with alternative access to capital which allows them to retain the sale value of their items upon maturity with no loans and pay minimal interest to access liquidity before their products mature and use this credit facility to improve their output, and streamline operations. Validators enable this on the protocol by aggregating market data regarding said organizations and assigning them a credit score(T-Score) based on their assessments which are all done on-chain and in the open for maximum transparency and contestations in cases of invalid aggregation. The protocol creates pools for each tokenization request which users can deposit into based on the pool's T-Score assigned by the validator. The validators get a cut of the interest the organizations pay to access liquidity as a service fee for their efforts. Once payments are made they're dispatched equally to all participating pool members and the validator.

How we built it

We built this project using Solidity for writing smart contracts, hardhat for the development environment, and chainlink to consume commodity data from external APIs to make sure the pools are stable and show correct values, web3.storage to persist the documents uploaded by organizations for maximum visibility and persistence for everyone to see, ethers to interact with the projects smart contracts, polygon as the blockchain the smart contracts are deployed on and quicknode to connect to the Polygon blockchain