On-Chain Collaborative Finance
Should we be focusing on bringing CoFi mechanisms on-chain?
Eight or so years ago, at the height of the ICO boom, when blockchain was going to bank the billions of unbanked, collaborative financial mechanisms were seen as a logical on-chain use case. They were already common across much of the unbanked world, so the thought of powering them with smart contracts and cryptocurrency had the hustlers salivating.
Things didn't really go as planned.
DeFi arrived with its global liquidity pools. CoFi solutions proved far too expensive and difficult to market (not to mention the usability issues). The hope, we guess, was that the unbanked would "figure out" how to use DeFi services for better financial inclusion. What we see today, however, is a disconnect between DeFi and the unbanked. One could argue that the gap is even wider now than it was in 2020.
So, Trinity Morphy decided to look more closely at the existing CoFi mechanisms and how they might be leveraged by regen communities to bridge the gap between DeFi and the unbanked. Here's a sneak peek:
A successful CoFi approach would stimulate local economies while driving profits for these collectives, earning them greater acceptance and respect in their local communities. The collectives, in turn, could leverage these mutual acceptance to: onboard more community members who will donate during grant rounds, increase matching funds, bring in additional capital to circulate within the local economy, and ultimately generate more revenue.
Read the full article 👇
Collaborative Finance for Regen Collectives | CARBON Copy
Trinity Morphy dives into an unheralded approach to grassroots finance and lays out potential solutions for regen collectives.
Story We're Following
Removing friction from the donation process is considered critical to the success of Web3-powered donations. Capitalising on existing UX patterns made successful in Web2 seems like a great place to start.
We won 1st place!
#SwipePad by @ReFiStarter took the
spot in the @MentoLabs Stablecoin Hackathon on @Celo (Open Track), running on @minipay
Kudos to team @ottox & @ozkite for making global donations as easy as swiping & building the future of on-chain funding.
We’re getting
#SwipePad by @ReFiStarter took the
spot in the @MentoLabs Stablecoin Hackathon on @Celo (Open Track), running on @minipayKudos to team @ottox & @ozkite for making global donations as easy as swiping & building the future of on-chain funding.
We’re getting
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New Fundraising Data
We've added fundraising data for Gitcoin Grants 23 and Octant Epoch 7 to our project database and dashboard!
We're Back on X
Our account was suspended last July and we haven't been able to create a new one until now.
Follow us at https://x.com/CC_ReFi_News
ReFi Making Impact
On Tap at CARBON Copy
Teasing our plans for the next version of the ReFi Impact Dashboard
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