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Our MerryGoRound

Funding merry go round, each participant puts in GHO funds every month and each person will randomly get out the full payment

Screenshots

Our MerryGoRound screenshot 1
Our MerryGoRound screenshot 2
Our MerryGoRound screenshot 3

Problem Statement

The app relies on social pressure via names / nicknames listed at registration. The group decides who is allowed in and whether the process will move forward. Anyone can cancel at any time during setup /finalization. This digitizes an existing process that exists in many communities. https://en.wikipedia.org/wiki/Chama_(investment)It's possible for a member to stop paying after receiving funds, but this is diminished by social pressure from the shared community.

Solution

Made this by drawing a state machine of the 4 phases (nothing, finalizing pt 1, finalizing pt 2, and round), then created methods that move the system from one state to another and modify the appropriate data based on each state.Using Solidity written primarily in Remix for testing.

Hackathon

LFGHO

2024

Contributors