Allocate

Screenshots

Problem Statement

Description: Crypto doesn't have to be complicated. The Allocate platform is designed to help you and your family learn how to comfortably use crypto in your everyday life. It's designed for kids, managed by parents.Problem: How do you teach your children to use crypto safely and confidently.Our solution:Parents create a family sandbox. They allocate funds to be used for allowance. A percentage of funds will be allocated to a staking contract in order to distribute rewards.Funds automatically stream to the child creating real-time cash flow.Children will have the ability to use De-Fi tools such as staking & time-locks. This introduces the concepts of savings, interest and compound interest.Funds can be allocated for the purchase of future goods and services through the use of time-locks. This ensures that children have the funds they need when they need it.The parent has the ability to enable full-access mode that will allow the child to withdraw funds to be used across crypto markets. By default, withdraws are sent back to the parent who can then payout the child with fiat.How It's Made:Architecture:Polygon: All contracts are on Polygon instead of L1.Torus: Used for authentication.Sequence: Used for authenticationSuperfluid: Used to stream funds to children in real-timeNext.js for frontendTruffle and Remix for Solidity developmentTechnologies:Polygon: All contracts are deployed on Polygon to reduce gas fees.Web3Auth: Used as a web2 alternative to onboarding and authentication.Sequence: Used as a web2 alternative to onboarding and authentication.Superfluid: Handles the instant distrubution of funds and streams allowances to the children.Next.js for frontendTruffle and Remix for Solidity developmentThe staking process:The child will call the USDCx contract and approve the Allocate Contract to handle their coins.The Allocate Contract:Transfers their stake to a holding wallet.Calculates their reward.Transfers the reward to their Allocate wallet.Stores their stake for the locked duration.The child can view the remaining duration at anytimeThe child can only withdraw their initial stake once the duration has elapsed.The reward is calculated at 5% of the initial stake times the duration.They are reward with Allocate tokens.

Solution

TechnologiesPolygon: All contracts are on Polygon instead of L1.Web3Auth & Sequence: Used for authentication. It allows the child to create their first crypto wallet, hassle-free. They can login with their social accounts.Superfluid: Used to stream funds to children in real-time as well as instant distribution of funds.Next.js for front-endHardhat and Remix for Solidity development