Xfund

Inspiration

This project is inspired by Chit Fund which is commonly used by people who don't have access to formal banking channels to save their hard-earned money in parts of India and other South Asia countries

What it does

xFund allows a group of people to form a group and save a small amount at regular intervals. At each interval, funds are collected from all the people in the group and are given to a single person selected randomly in the group. The process is repeated in such a way that all the people in the fund receive lumpsum exactly once. Once all the persons receive the lumpsum payments the fund is closed and users are allowed to mint a credit score as a dynamic NFT.

How we built it

The project is composed 3 main contracts namely

xFund : 0xd9E4F98fd967449bAc59C8666Be0cBDA2ea9ba07 USD : 0x03f6D79DC9B64bcC762Bd8c1256B9619492A398C Credit score:0xa1A12162204A28b9e76Fcebd4066EFeC6C44B611

xFund has logic for creating a new Fund, making a payment, checking for a default payment, selecting the lot winner randomly, allowing withdrawal of the lump sum payment and minting of the credit score as dynamic NFT.

USD contract serves as stable coin ERC20 contract to be used for payment and withdrawal purposes.

CreditScore is ERC721 contract which contains logic for generating a dynamic NFT with the inputs received from the xFund contract.

Challenges we ran into

The latest openzepplein contracts for ERC 20 and ERC721 were using the PUSH0 opcode which is not supported by the current XRP EVM hence faced some compatibility issues. So had to use an earlier version of the same contracts which had slight changes.

Accomplishments that we're proud of

we were able to complete the project from Front to back.

What we learned

Development on the EVM side chain is almost the same as of any other EVM chain with not much changes.

What's next for Xfund

To link existing stablecoins with XRP ecosystems and popularise it. Adding an auction method instead of randomly selecting the user for lumpsum payament. It will generate additional yield for the users.

Built With

• nextjs
• rainbowkit
• react
• tableland
• wagmi
• web3.storage