metadata: {"signature": "0x577dcb8dcde4226d00e2c638b6f1fdffc64591dcdf6e6a79295aedc258976d294122592bcbcfe4db23c45bd16ada2aa869501e6300eeb8d59a03a1c9199e7f361c", "application": {"round": "0xb91b59c91b09d127d269e53019f2420e8c2c7ce7", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "KBltS/w+Uo8DzDaiVIZYb5A/F6as2fzSdvG24GekmVqKQ6q6RD7yXUBwIFcl4mxm", "encryptedSymmetricKey": "b0640d8df84f8cacf095dc602336b3a59e2cfe3a7aaf0af49403bbe0badcec326bf505980b87772522a7e31019c29603ea9ea53f2b4eb09770ba686c933c527cedf9fa2a696ba5fb808ffc10ba843abd3f3e8a3b732c52f9a14025fb033358a519e64ba641aae53735bce4ec935e7ac9b8536a0744a689443e72cf50e5caee4b0000000000000020e091aaf4736d988b7a656357cbfbf295b49c296559144ca7b1c61f940902170ab3b3e2028a1894b2e22ee9015ac0e48c"}}, {"type": "short-answer", "answer": "@Chuche0x", "hidden": true, "question": "Telegram Handle", "questionId": 1}, {"type": "short-answer", "answer": "https://github.com/NEDA-LABS/WashikaDao", "hidden": true, "question": "Project GitHub Repo", "questionId": 2}, {"type": "short-answer", "answer": "https://discord.gg/9v3MbEzPVm", "hidden": true, "question": "Link to your Public Group Chat", "questionId": 3}, {"type": "short-answer", "answer": "Yes, Celo Real World Builders. https://builder.gitcoin.co/#/chains/42220/registry/0x/projects/0x244584d0d32bbe4d392fe77cd3fca817b8ee8ec400b594ace7637b37b68a0958", "hidden": true, "question": "Have you participated in a previous Gitcoin Grants Round? If so, please name the rounds or link the builder profile associated with previous rounds.", "questionId": 4}, {"type": "paragraph", "answer": "Washika DAO actively contributes to the open-source software (OSS) ecosystem by making all its smart contracts and core functionality open-source. These contracts are available for other developers to adapt and reuse, particularly in creating decentralized financial solutions aimed at underrepresented communities. Our tools, such as decentralized savings and governance protocols, offer a framework for financial inclusion projects globally. Moreover, Washika DAO encourages localization efforts, enabling communities in different regions to adapt the platform to their unique needs, thus enriching the OSS ecosystem with culturally tailored financial solutions.", "hidden": true, "question": "How does your project contribute to the growth of the OSS ecosystem? Please provide specific examples of how your application enhances or expands the current ecosystem.", "questionId": 5}, {"type": "paragraph", "answer": "Washika DAO offers decentralized savings, peer-to-peer lending, and community governance specifically designed for marginalized communities. It allows members to save, earn interest, and take loans using their savings as collateral, with all decisions made through a transparent, token-based voting system. Unlike many DeFi platforms that focus on high-yield and complex financial tools, Washika DAO is built to serve community savings groups like VICOBAs and SACCOS in underserved regions. Additionally, Washika DAO uses stablecoins like cUSD for transactions, ensuring that users don\u2019t face the risks associated with crypto volatility, a key differentiator for low-income and unbanked users.", "hidden": true, "question": "What features or use cases does your dApp/App present? How is it differentiated?", "questionId": 6}, {"type": "paragraph", "answer": "With further development, Washika DAO aims to enhance governance features, integrate with other DeFi platforms in the Celo & in near future other L2 ecosystems, and scale operations to reach more communities in East Africa. The grant funds will be used to improve the technical infrastructure, conduct security audits, and develop a translation curriculum for English and Swahili that is accessible to users with basic smartphones. Additionally, we plan to allocate funds toward community education programs to onboard users, especially those in remote areas. We also aim to scale our user base by expanding our pilot programs and conducting marketing outreach to attract new members.", "hidden": true, "question": "What are your plans for further development, and how will the grant funds be used to achieve these goals?", "questionId": 7}, {"type": "paragraph", "answer": "[0x590Ab3FfA33644F1fDC648627Cd5eC937a271A20], 44787 \nCeloAlfajores", "hidden": true, "question": "For any project deploying smart contracts on blockchain networks, please list all your deployer addresses and their corresponding blockchain networks. Use this format for each entry: [deployer_address], [chain_id]\u2014for example, 0x123abc..., 42161 (This represents a deployer address on the Arbitrum network). Please include a separate line for each unique deployer address and blockchain combination.", "questionId": 8}], "project": {"id": "0xfd061a146da1309cf6e7fb5cdd4aaab61b298ecc23d7750ab1ac21ac9b817560", "title": "WashikaDAO", "logoImg": "bafkreiamitgbgexvfvn7vaedofjs2jyb46sf5lxip24p637iwbnidcwkje", "metaPtr": {"pointer": "bafkreif6qu2i4nqiazuok2xdvnb5iudlrhac4juuhdkitswfjedqnbz75q", "protocol": "undefined"}, "website": "https://x.com/NedaLabs", "bannerImg": "bafkreibmhv6y3nkxrxzmpjwnopc6pd7jggqjqxtdwg3tru7r4awqhghnlm", "createdAt": 1722602186363, "userGithub": "machuche1", "credentials": {"github": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..N6T2joL0CiiVHUMghnWMLeByhK_lHqxW80sN70AGFRmoBKh1VdwSuYcYFgbJUsF9j-t_yGRy8ybk82VtJoIGCg", "type": "Ed25519Signature2018", "created": "2024-10-17T08:03:19.540Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-10-17T08:03:19.540Z", "expirationDate": "2025-01-15T08:03:19.540Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x037Eb04AD9DDFf984F44Ce5941D14b8Ea3781459", "hash": "v0.0.0:iQVKffa0rQspgej/2w/KljbTfS7khAyUpPP/8tJCu00=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextGithubOrg#NEDA-LABS#128690151"}}, "twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..ytJ7XfC6U1CBa9Hj1velZe4kbkByUVeSI5oCoFlkXVmQJvJKB8iJ45germwIunn5PZtEt5w-1TYJoe-jUixyBA", "type": "Ed25519Signature2018", "created": "2024-08-02T12:41:44.800Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-08-02T12:41:44.799Z", "expirationDate": "2024-10-31T12:41:44.799Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x037Eb04AD9DDFf984F44Ce5941D14b8Ea3781459", "hash": "v0.0.0:Fdg/nOPx+zNX9XabjbN3vNlPa3nKnhKys1EgHXYsUqY=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#NedaLabs"}}}, "description": "\nWashika DAO: Empowering Financial Inclusion for Marginalized Communities\n\nProject Description:\nWashika DAO is a framework and protocol aimed at transforming governance and financial inclusion for marginalized communities such as Village Community Banks (VICOBAs), Savings and Credit Cooperative Societies (SACCOS), and Chamas across communities in Tanzania and Kenya. Built on the Celo blockchain and leveraging the use of stablecoins, Washika DAO provides a robust platform for savings, lending, and governance, designed to empower communities and promote sustainable economic growth.\n\nIssues We\u2019re Tackling\nIn emerging markets, access to credit remains a critical barrier to economic growth and financial inclusion. Traditional banking systems often fail to serve the needs of small businesses and individuals, especially those in low-income earning communities. Despite the progress in making banking services accessible\u00e2\u20ac\u201dsuch as banking the unbanked with a basic feature phone and an ID\u00e2\u20ac\u201dbarriers to credit access continue to impede financial empowerment. High-interest rates, stringent lending requirements, and limited financial literacy are significant challenges. \n\nOur focus is on scalable solutions that integrate innovation with existing community practices, such as the Washika DAO protocol, to create sustainable economic growth and resilience, while critically assessing the trade-offs and impacts on marginalized communities. By examining the potential of novel credit systems to empower local economies, enhance financial autonomy, and reduce dependency on conventional traditional structures.\n\nOur paper explores innovative approaches to credit delivery, leveraging decentralized finance (DeFi) technologies and community-driven models. Central to this exploration is the question:\n At what cost are marginalized communities truly financially included?\n\n- Financial Exclusion: Millions of people in marginalized communities lack access to basic financial services. Washika DAO provides an inclusive platform that empowers these communities through alternative means to financing in DeFi.\n- Lack of Transparency: Traditional financial systems often suffer from opacity and corruption. Our blockchain-based solution ensures all transactions and decisions are transparent and immutable as well as all governance decisions stored onchain for transparency and proper record keeping.\n- High Transaction Costs: By leveraging decentralized finance (DeFi) principles and stablecoins utilities, we significantly reduce the cost of transactions, making financial services more affordable for marginalized communities facing high transaction costs.\n- Inefficient Lending Processes: Traditional lending processes can be slow and bureaucratic. Washika DAO automates and streamlines the process, providing quick and fair access to credit.\n\n\nGovernance\n- At the heart of Washika DAO is a decentralized governance model that ensures all members have a voice in the decision-making process. Any existing Chama can create a DAO in 3 simple steps, adding relevant fields such as members, multisig holders etc. without having to worry about web3. Anyone in the DAO is also able to put up a proposal reviewed by all at anytime. Key features include:\n- Democratic Voting: Members can propose and vote on changes to the protocol, interest rates, loan terms, and other critical decisions.\n- Transparent Operations: All governance activities are recorded on the blockchain, ensuring transparency and accountability.\n- Community-driven Proposals: Any member can submit proposals, fostering a collaborative environment where the best ideas can flourish.\n\n[![create-dao.png](https://i.postimg.cc/FztPHN97/create-dao.png)](https://postimg.cc/34BjLM0T)\n\n\nSavings:\nCommunities already operate a savings pool offchain through a model known as \u201cMchezo'' in Swahili, where the funds pooled shift hands every month. Washika DAO\u2019s savings mechanism is designed to encourage financial discipline and provide a safe, transparent way to save money:\n- Secure & TransparentSavings Accounts: Members can open savings accounts that are securely managed by smart contracts. The balances will be scraped from their existing holding accounts such as bank / mobile money wallet (M-Pesa)\n- Interest Earnings: Savings pooled in the DAO earn interest, which is distributed back to the members proportionally. This adds value to the idle funds sat in their pool/ bank account.\n- Automated Management: In the near future, Smart contracts automate the process of interest calculation and distribution, ensuring efficiency and accuracy.\n\n[![balance.png](https://i.postimg.cc/pT5GvpMw/balance.png)](https://postimg.cc/Pphzzfxy)\n\nLending:\n- Washika DAO revolutionizes the traditional lending process with a decentralized, community-focused approach:\n- Peer-to-Peer & Group Lending: Members can apply for loans that are funded directly by the community\u2019s pooled savings. Communities can also collectively apply for a loan at better terms through a collateralized asset, such as liquid bond in this case.\n- Fair Loan Terms: Loans are granted based on predefined criteria, ensuring fairness and reducing the risk of default.\n\n- Automated Repayments: Repayment schedules are managed by smart contracts, making the process seamless and reliable.\n\nWhat We\u2019re Building:\nComprehensive Governance & Financial Platform: A user-friendly interface for participating in governance, transparency in managing of funds and savings as well as applying for cost-efficient loans through alternative means of financing.\n\nBlockchain Integration: A protocol to ensure governance security and transparency for these communities, alternative means of financing utility in stablecoin settlements & store of value and efficiency. We are also making the User experience as friendly as possible by mapping their wallets in the backend to their mobile phone numbers and linking their National IDs. This will also enable tracking of history and records.\n\nEducational Resources: Providing training and support to help members understand and effectively use the platform. This includes a DAO toolkit, all accessible in English and Swahili local language.\n\nCommunity Tools: Features to facilitate collaboration, knowledge sharing, and collective decision-making.\n\n[![learnkit.png](https://i.postimg.cc/7hgKCd6X/learnkit.png)](https://postimg.cc/hQtL6CV7)\n\nLink to our research doc: https://docs.google.com/document/d/1RreMnw4zKE3DmGMqj7t9crBzc7g2MDcEMJr3OIz1wFc/edit\n\n\nJoin us in revolutionizing financial inclusion for marginalized communities. Your support on Gitcoin grants will help us build a more equitable and sustainable financial ecosystem. By contributing to Washika DAO, you are empowering individuals, fostering community development, and promoting economic resilience. Together, we can make a significant impact.\n\n", "lastUpdated": 0, "projectGithub": "NEDA-LABS", "projectTwitter": "nedalabs"}, "recipient": "0x037Eb04AD9DDFf984F44Ce5941D14b8Ea3781459"}}