Abstract

Across Africa, Asia, and Latin America, three-wheeler vehicles known as Tuktuks, Pragia, or Kekes serve as a main source of income for millions. However, drivers often operate under a "work-and-pay" model, renting vehicles from owners and struggling to break free from cycles of dependency. The 3 Wheeler Bike Club is a blockchain-based membership platform designed to empower these drivers by increasing their access to ownership, financial resources, and community support.

Three-wheeler bikers face significant challenges that hinder their ability to achieve financial independence and self-sufficiency:

1. Lack of Ownership: Many drivers operate vehicles owned by others, leading to exploitative arrangements where daily payments are demanded. This prevents drivers from building equity or progressing toward ownership.

2. Manual Processes and Disorganization: The current system relies on informal, offline interactions that lack structure, transparency, or long-term benefits. Drivers have no pathway to save, build credit, or access financial services.

The 3 Wheel Bike Club is a blockchain-powered platform that brings onchain ownership, community, and governance to three-wheeler bikers.

Ownership: Drivers pay weekly dues for 2 years, after which they fully own the vehicle. This structured payment plan eliminates exploitative rental models and provides a clear path to ownership.

Community: Drivers contribute $2 weekly dues to join the 3WB Club, granting them access to a community treasury. Based on their reputation score (built through consistent payments and positive contributions), members can draw funds for personal needs, vehicle maintenance, or emergencies.

Governance: Drivers who pay weekly dues become part of a Decentralized Autonomous Organization (DAO). Through the DAO, members vote on proposals to improve the community, allocate treasury funds, and shape the future of the platform.

A transparent, onchain credit scoring system evaluates members’ reliability using three scores:

1. Vehicle Payments: Timely payments toward ownership.

2. Membership Dues: Weekly dues paid on time (scored out of 700, with penalties for late payments).

3. Loan Repayments: History of repaying loans from the community treasury.

Key Metrics:

• Weekly Invoices: Sent every Friday, with a 72-hour grace period for full points. Late payments lose 100 points per 24 hours.

• Weeks Active (x/y): Tracks consistency (x = weeks paid, y = total weeks).

• Combined Credit Score: Average of the three scores, recorded onchain via Sign Protocol.

Impact of Credit Scores

• Access to Funds: Higher scores unlock larger loans and emergency funds.

• Vehicle Financing: Strong scores prioritize members for vehicle financing.

• Community Benefits: Scores determine eligibility for maintenance support, insurance, and other perks.

The 3 Wheeler Bike Club (3WB) protocol involves four key parties, each playing a critical role in the ecosystem:

Members:

• Pay a weekly $2 fee to join the club.

• Gain access to the community treasury based on their reputation score, which is built through consistent payments and positive contributions.

• Can draw funds for personal needs, emergencies, or vehicle maintenance.

Drivers:

• Pay a weekly $2 fee to participate in the club.

• Make invoice payments toward vehicle ownership, with full ownership achieved after 2 years of consistent payments.

Managers:

• Handle on-the-ground operations, including driver and vehicle management.

• Ensures smooth functioning of the ecosystem, from onboarding drivers to maintaining vehicles.

Investors:

• Serve as the initial owners of the vehicles.

• Receive payments from drivers until the vehicle is fully paid off, at which point ownership is transferred to the driver.

• Play a vital role in funding the initial infrastructure of the ecosystem.

Attestations via Sign Protocol Reputation scores, vehicle information, payment history, and ownership status are recorded as onchain attestations using the Sign Protocol.

Treasury and Decentralized Autonomous Organization A community treasury is managed via smart contracts, ensuring transparent and fair allocation of funds.

Drivers and members participate in a DAO to vote on proposals, allocate resources, and shape the future of the platform.

Payment Gateways (Paystack, Flutterwave) Integration with popular payment rails like Paystack and Flutterwave ensures accessibility for drivers and members.Payments are recorded onchain, bridging the gap between web2 convenience and web3 transparency.

PoolTogether Membership dues are deposited into a PoolTogether vault, where they generate yield over time.The yield generated is distributed as rewards to credible members, incentivizing timely payments and active participation in the ecosystem.

Q1 2024

• Finalize and launch the 3WB application.

• Run a pilot program with 3 drivers to test and refine the platform.

Q2 2024

• Begin private sale of tokenized tuktuks to early investors.

• Open public sale of tuktuks to expand access and participation.

Q3-Q4 2024

• Form the Decentralized Autonomous Organization (DAO) to enable community governance.

• Expand the platform to include motorbikes, broadening the scope of the ecosystem.

• Launch operations in Kenya and Nigeria, scaling the 3WB model to new regions.

Okley - Co-founder and Lead Engineer

Kofi Owusu - Co-founder and Business Development

Elo Mukoro - Co-founder and Product Manager

Anita - Branding and Design

Dada Boipelo - Marketing