Coffer City, the digital Piggy Bank that helps you Save on your terms!
Live on Toronet Testnet at https://coffer-city.vercel.app/ (product demo link)
X(formerly Twitter) announcement tweet: https://x.com/CofferCity/status/1719722532503179688?s=20
Contract addresses below:
- Coffer Vault: https://testnet.toronet.org/address.html?address=0x96ad2b94e8C032E500663b8014A0BB7450F1263e
This smart contract is responsible for managing user registrations, weekly contributions, asset selection, and distribution of pooled funds based on predefined schedules. It also manages the issuance of NFTs for referrals and other community engagement activities.
- Coffer Registry: https://testnet.toronet.org/address.html?address=0x4a50FE761311c03222505bB16Acf6a75111B49dd
This smart contract is responsible for keeping track of referrals which can be accessesed by any additional products we will be building under Coffer City
-
PiggyBank NFT: https://testnet.toronet.org/address.html?address=0x98485E4927cbe4e4B6A03f36C329d52B3057D111
-
Coffer Chest NFT: https://testnet.toronet.org/address.html?address=0x88BC0B28F92937a5b8503FF715df07b76153f5F0
-
Coffer Metadata: https://testnet.toronet.org/address.html?address=0x663B2914a21d0a37aCA5E59c5904754C3f157aC3
This smart contract manages the metada for both NFT collections above 100% on-chain.
Coffer City is a web3 solution designed to tackle financial insecurities and improve economic resilience within communities in Nigeria. By leveraging blockchain technology, Coffer City provides a transparent and secure platform for individuals to engage in weekly savings/contributions towards the accumulation of selected assets over a specified duration. This initiative not only promotes financial discipline but also drives economic empowerment and financial inclusion, especially among low-income earners and informal sector operators.
Our mission is to demystify and democratize savings in the cryptocurrency domain. We are reinventing the way users interact with their digital assets by introducing an uncomplicated savings mechanism, enabling users to manage their savings seamlessly without compromising on security or transparency. We have created an easy-to-use, secure, and automated savings solution that uses smart contracts to create customizable saving plans on the Toronet blockchain. Users are rewarded with NFT's on Toronet for referring others to Coffer City, a "Piggy Bank" NFT for direct referrals and a "Coffer Chest" animated NFT for second level referrals.
This is an original work by our team.
Ajo is a traditional group savings scheme prevalent in Nigeria, providing a communal framework for financial security and empowerment. It serves as a traditional, trust-based informal group savings program, where members regularly contribute fixed sums to a common fund. This method predates the advent of banks and modern financial apps in Nigeria, offering a communal way to save money and achieve financial goals. Ajo provides a mechanism for borrowing in times of emergency, growing savings, and achieving communal objectives. For instance, in urban areas, a professional collector (alajo) may go around collecting contributions on a set schedule, earning a commission for this service. This practice is widespread in many parts of Africa and is known by different names such as "Esusu" in Yoruba, "Adashe" in Hausa, or "Otataje" in Edo. With advancements in fintech and blockchain technology, digital versions of Ajo have emerged, like Coffer City, which helps individuals set a weekly goal, choose a deposit period, and easily track their savings. Coffer City makes the Ajo system more accessible and easier to manage, promoting financial inclusion among the unbanked or underbanked population in Nigeria.
Financial insecurity is a prevalent issue in many Nigerian communities, often exacerbated by inadequate access to formal banking and savings infrastructure. The traditional savings system known as 'Ajo' or 'Esusu' is common, but it comes with several challenges such as lack of transparency, mismanagement, and limited growth opportunities.
Coffer City digitizes the traditional "Ajo" model by incorporating smart contracts on the Toronet blockchain, ensuring transparency, security, and efficiency in savings and asset accumulation processes. Users can choose from a variety of assets for savings, and the platform incentivizes community growth and referrals through unique NFT rewards. This modern adaptation of a trusted local savings culture could drastically improve financial habits and economic stability within communities. Through smart contracts, Coffer City enables users to contribute savings in selected assets on a weekly basis for a specified duration, embodying the communal and financial discipline attributes of Ajo, but with the added benefits of blockchain technology. Thus, Coffer City not only addresses the financial needs of the community but also fosters economic growth and empowerment.
- Financial Inclusion: By digitizing the traditional Ajo system, Coffer City extends financial inclusion to individuals marginalized from conventional banking systems.
- Innovative Funding Solution: Coffer City offers an innovative platform for systematic savings and asset accumulation, aiding individuals in financial planning and capital accumulation for personal or entrepreneurial purposes.
- Community Engagement: NFT rewards foster a sense of community, incentivizing referrals and active participation, akin to the communal bonds formed in traditional Ajo systems.
- Economic Empowerment: Through the facilitation of savings and access to capital, Coffer City supports economic empowerment and positive economic growth within communities.
With a minimal 1% maintenance fee, Coffer City has a built-in revenue model ensuring sustainability while keeping the platform accessible. The NFT rewards system also presents potential secondary market opportunities, further contributing to the project’s commercial viability. Coffer City isn't just another product, it's a new value chain. The web3 space is used to DeFi, and now we're introducing them to #SaveFi.
- Increased Adoption and User Base: By providing a practical and beneficial financial solution like Coffer City on Toronet, we may attract more users to the Toronet ecosystem. This increased user base can promote broader adoption of Toronet's blockchain infrastructure.
- Demonstration of Real-World Use Cases: Coffer City serves as a tangible example of how Toronet’s blockchain technology can be leveraged to address real-world financial challenges in communities. This can help in showcasing the versatility and applicability of Toronet's blockchain for solving practical problems, which can attract more developers and projects to the ecosystem.
- Strengthening Community Engagement: By fostering a culture of savings and community engagement through referrals and rewards, Coffer City can contribute to building a stronger, more active community within the Toronet ecosystem. This could in turn foster a sense of togetherness and collective economic growth, which are essential for a thriving blockchain ecosystem.
- Innovative Financial Solutions: Coffer City introduces innovative financial solutions to the Toronet ecosystem, such as decentralized savings and NFT rewards. These innovations can encourage further exploration and development of financial applications on Toronet, potentially leading to more diverse financial products and services within the ecosystem.
- Enhanced Trust and Transparency: By utilizing smart contracts to ensure transparency and security in savings and asset accumulation processes, Coffer City could enhance trust in the Toronet ecosystem. This level of trust can be crucial in attracting more users and developers to the platform.
- Economic Growth: By potentially stimulating economic activity and financial inclusion, Coffer City could play a part in driving economic growth within the Toronet ecosystem. This could include creating a secondary market for NFTs or even encouraging other entrepreneurial endeavors on the platform.
- Transaction Volume and Network Activity: With the regular savings contributions and the exchange of NFTs on Coffer City, there would be a continuous flow of transactions within the Toronet ecosystem. This increased transaction volume could enhance the network's vibrancy and potentially contribute to the value and security of the Toronet blockchain.
- Sustainable Revenue Model: With its minimal maintenance fee, Coffer City introduces a sustainable revenue model that could serve as a blueprint for other projects within the Toronet ecosystem, promoting a financially viable and sustainable ecosystem.
In sum, integrating Coffer City into the Toronet ecosystem could not only solve pertinent financial issues but also significantly contribute to the growth, innovation, and sustainability of the Toronet blockchain ecosystem.
-
Tx Hash: 0xe5e73414daf83b2a0f20a3212a17fd3c1faab9d845fd5e03ab0c3f9a4dbae05c
{ "result": true, "transaction": { "blockHash": "0x98b3fb0b032ddfaef7124e5c0c57780c888e4cff2708776ec803485eb5e8114c", "blockNumber": 14482228, "from": "0x9B71B4Dc9E9DCeFAF0e291Cf2DC5135A862A463d", "gas": 411020, "gasPrice": "0", "hash": "0xe5e73414daf83b2a0f20a3212a17fd3c1faab9d845fd5e03ab0c3f9a4dbae05c", "input": "0x35b2d84b000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000001baf800000000000000000000000000000000000000000000000000000000000000002000000000000000000000000000000000000000000000000000000000000000200000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000", "nonce": 9, "to": "0x96ad2b94e8C032E500663b8014A0BB7450F1263e", "transactionIndex": 0, "value": "0", "type": "0x0", "v": "0x1a885", "r": "0xf273ecc29b83466fc7dea867f133737532b74db0e294b8bfd38f1f732d73a3c5", "s": "0x59d78fab9e383523d96c7d9989cd1174d9329ba66a634c5c50ad725484ff74e7" }, "message": "transaction '0xe5e73414daf83b2a0f20a3212a17fd3c1faab9d845fd5e03ab0c3f9a4dbae05c' has been queried"
}
-
Tx Hash: 0x939c189de9e02b2de7242577f1f48ebf7a5f5198c61b6181417c54684d13400b
{ "result": true, "transaction": { "blockHash": "0x46075438e9bc3d14ab3058b803083ae48a15c6344068587ce9c95306625532f2", "blockNumber": 14482406, "from": "0x3ffAf5Be4ADa54b0093418418711153e3201226a", "gas": 57257, "gasPrice": "0", "hash": "0x939c189de9e02b2de7242577f1f48ebf7a5f5198c61b6181417c54684d13400b", "input": "0x08acdcc500000000000000000000000000000000000000000000000000000000000000010000000000000000000000000000000000000000000000000000000000000040000000000000000000000000000000000000000000000000000000000000000300000000000000000000000000000000000000000000000000000000000013d300000000000000000000000000000000000000000000000000000000000027a60000000000000000000000000000000000000000000000000000000000003b79", "nonce": 10, "to": "0x96ad2b94e8C032E500663b8014A0BB7450F1263e", "transactionIndex": 0, "value": "0", "type": "0x0", "v": "0x1a886", "r": "0x2305d412c15b0b46b3665b8110a8d9c3d81e76bdb0deff8d8e7e01643e49de28", "s": "0x46f48c0f0ad6058fc4948ea9393eb472d57c4c3bf57ac17e6da5daf1d1f1b794" }, "message": "transaction '0x939c189de9e02b2de7242577f1f48ebf7a5f5198c61b6181417c54684d13400b' has been queried"
}
- Tx Hash: 0x6459dd409a78385a4d39117b029a88a771fb7045faf11705ae7ce4fb2e85aa8c
{
"result": true,
"transaction": {
"blockHash": "0xfd874de2b4a092a69b440ac7e461015d4c6c68ee86bc2da6bef0216c6a33a2e1",
"blockNumber": 14482378,
"from": "0x3ffAf5Be4ADa54b0093418418711153e3201226a",
"gas": 57413,
"gasPrice": "0",
"hash": "0x6459dd409a78385a4d39117b029a88a771fb7045faf11705ae7ce4fb2e85aa8c",
"input": "0x08acdcc5000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000000400000000000000000000000000000000000000000000000000000000000000003000000000000000000000000000000000000000000000000466e059c8b1b80000000000000000000000000000000000000000000000000008cdc0b3916370000000000000000000000000000000000000000000000000000d34a10d5a1528000",
"nonce": 8,
"to": "0x96ad2b94e8C032E500663b8014A0BB7450F1263e",
"transactionIndex": 0,
"value": "0",
"type": "0x0",
"v": "0x1a885",
"r": "0x2b8bbef5e4cb32c6c2458ea4b42b0a0159b16063cbf5fcbfa39df1b20e0ef5c5",
"s": "0x469f277e78e6e51ddb27f6a8e841797bf315c2548b923770e08ea3dd86e25330"
},
"message": "transaction '0x6459dd409a78385a4d39117b029a88a771fb7045faf11705ae7ce4fb2e85aa8c' has been queried"
}