Descripción
Chord Finance is a peer-to-peer stablecoin lending and savings protocol designed to modernize informal community finance systems such as ROSCAs, pardners, susu, and tandas. These systems already help hundreds of millions of people save, access liquidity, and coordinate capital, collectively moving hundreds of billions of dollars annually, yet they remain largely offline, geographically fragmented, and disconnected from modern financial infrastructure.
Chord combines stablecoins, embedded wallets, programmable payments, and onchain reputation to create a global financial coordination layer for individuals and small businesses. Users can participate in savings circles, access liquidity, build portable financial reputation, and eventually unlock undercollateralised lending products. By bringing these trusted community finance mechanisms onchain, we aim to make saving, borrowing, and cross-border financial coordination more accessible, transparent, and efficient for the next generation of internet-native users.
Progreso del hackathon
CHORD — HACKATHON SUMMARY
Decentralised rotating savings circles (ROSCAs) plus peer-to-peer lending on Arbitrum, built end-to-end in Rust/WASM via Arbitrum Stylus. Members contribute a fixed amount each round, one member receives the pot, and it rotates until everyone has had a turn. On-time participation builds a portable on-chain reputation that unlocks community-funded loans — no bank, no credit check.
Deployed live on Arbitrum Sepolia (chain 421614), with the full stack running: smart contracts, indexer, and web app.
PROTOCOL (ARBITRUM STYLUS, RUST TO WASM)
A modular system of 12 production contracts (plus testnet mocks), each with clear ownership boundaries and wired together atomically at circle creation:
- circle — Core ROSCA: joining, payments, round allocation, activation
- circle_finance — Late settlement, liquidation, collateral management, sponsor mode, expiry/completion
- circle_trade — Seat listings, swaps, sales, receivable minting, auction bidding
- factory — EIP-1167 clone deployer; spins up and wires a new circle's modules in one transaction
- collateral — Deposits, health-factor computation, seizure on liquidation (oracle price feeds)
- fee_router — Versioned fee config (join/liquidation/swap/sale) routed to treasury
- receivable — ERC-1155 tokens representing future round payouts, sellable early
- marketplace — Secondary market for receivable tokens
- auction — Per-round bidding for auction-mode circles
- reputation — On-chain score aggregated from circle and lending activity
- lending and lending_factory — P2P loans with fixed-rate installment repayment, identity-gated (Human Passport)
Highlights: collateralised commitments with on-chain health factors and liquidation; a secondary market for both circle seats and future payouts; auction-allocated rounds; sponsor mode; and a reputation flywheel where circle behaviour directly gates lending access, all running natively in the Stylus VM.
FRONTEND (NEXT.JS 16)
A full consumer-grade dApp that hides all crypto complexity:
- Wallet-less onboarding via Privy — email login and embedded wallets, so users never touch seed phrases or gas concepts.
- Complete user journeys — create/join circles, make round payments, trade seats, buy/sell receivables, manage collateral, request and fund loans, track reputation, sponsor members, invite flows, and a unified dashboard.
- Secure-by-design data layer — the public anon key is strictly read-only; every write goes through authenticated /api/* routes using a service-role identity (circle metadata, drafts, profiles, loan requests, swap/sale intents), with a hardened Content-Security-Policy and an RPC proxy that keeps provider keys server-side and dedup-caches block reads.
- Browser-side reads come straight from the indexed database, so the UI reflects on-chain state within seconds.
INDEXER (SUBQUERY TO SUPABASE)
A real-time indexer turns raw chain events into queryable application data:
- 18 indexed entity types — circles, participants, rounds, payments, receivables, swaps, seat transfers, marketplace listings, collateral events, auctions (bids/results/applications), loans (fundings/repayments/claims), and notification outboxes.
- Writes into a Supabase indexer schema that the frontend reads directly, with notification fan-out wired in.
- Production-hardened ingestion — TLS to a hosted Postgres, skipTransactions (events emit all needed config inline, so no transaction-body fetches), and a multi-endpoint RPC pool with per-endpoint batch tuning, so strong/keyed providers pull large batches while rate-limited public endpoints are throttled, eliminating rate-limit stalls and keeping the indexer within seconds of chain head.
NET ACHIEVEMENT
A complete, live, full-stack DeFi protocol on Arbitrum — savings circles, a receivables/seat marketplace, auctions, reputation, and reputation-gated lending — written entirely in Rust on Stylus, served by a polished wallet-less frontend and a resilient real-time indexer.
