Please check out the landing page: Website
Please check out our Github Repo: Github
While considering what we wanted to build for the hackathon, a question crossed my mind....
You could do good and donate to charities without having to pay for it?
I thought, yes this would be cool, but buidling a pepe-powered neo bank is cool, but what problem are we solving here?
We are primarily looking at the three key obstacles to gift-giving and making donations:
While the motivation and willingness to do good is enough sometimes, it's often now and traditional gifting has a high barrier due to this reason. The result is non-profits are not able to raise enough money. But, if only there was a way for them to get this money without the user having to pay for it?
Make a donation to a charity or a gift to a friend. Get it back 3 months later!
Gifter is a unique defi protocol, that allows you to pay someone immediately, but get the money back in 3 months.
Soo how does it work? The mechanism involved is illustrated simply in the image below:
When a user wishes to send a gift via Gifter Finance, they deposit a specified amount into a contract. This sum is then invested in DeFi through Swivel, locking it for three months but providing a fixed return.
Uniquely, Swivel allows us to access this yield upfront, our protocol forwards this immediately to the gift recipient or the donation-collecting organization, giving them access to the funds immediately for their use.
At the end of the deposit period, the user will come back to the platform, click the withdraw button and will have access to his funds immediately as we will encash the czTokens stored in the contract with Swivel finance and forward the funds.
In traditional finance, fixed-rate lending often involves complex processes and intermediaries. However, with Web3 and DeFi (Decentralized Finance), this process becomes more straightforward and efficient.
Fixed-rate lending is essential for this as you need to know how the lending rate is before you can give up the rewards upfront, defi makes this process possible, fast and seamless.
We are using the illuminate/swirel smart contract and API to get the USDC tokens on goerli. We use the JSON payload from the API to get the data and signature needed to then call the swirel contract initiate function to get the USDC tokens.
This is a public good project built on Ethereum with all our contracts deployed on Ethereum!!