🚜🌈 Sochi: A yield―generating protocol where fees and yield-aggregated products are shared cross-chain among all participants. Each transaction helps families with NO access to banking services in Latin America have financial inclusion, and achieve credit freedom.

Abstract

People from under-developed countries pay extreme fees in loans year to year. This tighten them on an infinite credit turmoil.

The Problem

Families in El Salvador have to pay up to 60% in fees for credits as small as $2,000 USD. Which means they have to work harder, and financial entities simply take advantage of their lack of knowledge in Decentralized Solutions and Non-Existent Financial Background. Banks keep consuming farmer’s wealth and vanish their dreams to achieve financial freedom.

In some cases, Shark-loan people end up using physical violence to collect payment from defaulting borrowers, which can even result in deaths.

Solution

Enters Sochi: We are onboarding this families so they can have access to collateralized loans using their goods or any asset that can be backed-up on-chain under El Salvador’s Digital Asset law.

Sochi's revenue shared model removes the barriers to investors whiling to deposit their assets and those who really care about helping the unbanked in El Salvador with a high annual yield of more than 5% in Stables.

Proposal / Details

We are a small team of buildors from El Salvador. We have been ideating Sochi since the May, 2023. Have a little demo done and need help to set a full-time solidity engineer to finish up and go live.

We'd love to have 2 engineers working full time in Sochi and go live before Q2 next year. An initial budget of $2,500/ engineer is be more than sufficient for us to allocate resources + cover costs like marketing in twitter, tiktok, NFT creation + airdrops and token launch.

Thanks a lot in advance. You don't know how happy we'll be to have at least the runway for one month to be fully dedicated on building Sochi.

Rewards to early adopters

Just again, thanks everyone for helping Sochi become a real thing. We are having a fundraising project in Juicebox -> https://juicebox.money/@goradish, we're commit to disburse NFTs + token shares to project donors.

We can't promise anything, but if we hit our milestone of $30,000 we will ship a Sochi/Radish Hoodie to anyone, anywhere 🥳🥳!

Integrations

Our focus is to optimize yield having automated strategies on top of yield aggregators (Yearn, Harvest, Beefy and Idle)

Grant Integration

1 Inch Swap API & Fusion SDK: Gasless transactions. Vaults Zapping and instant token swap to deposit on family projects.