BooFi

Demo

About

Why are you participating for Based LatAm? Interested in connecting my solution to Base to build a business relationship towards launching BooFi as a B2B & consumer platform while getting access to key API's to enhance it's capabilities. As an example, I am quite interested in Coinbase Wallet session keys and US bank account/USDC integrations. I am building a platform for freelancers and SMEs in emergin economies and would like to discuss a roadmap which includes various killer features. Additional Features The Hub and Spoke Wormhole and Circle CCIP Money Market with a private blockchain relayer for creating Open Banking infrastructure for LATAM feature was done entirely from scratch for this hackathon. The project is super new and a pivot from some work I did on ETH Global Superhack 2024 two months ago. As such, it isn't yet an established project or anything but a massive leveraged WIP. I intend to hopefully win some prizes to keep building here in Buenos Aires as I just found out about the Avax Summit Hackathon while here and the Wormhole Sigma sprint hackathon. Today the Avax hackathon finished and I won first prize and also the Chainlink DeFi track. I came to Argentina for the Base Hackathon and only found out the Avax Summit was happening while here at the co-working space Aleph. I got to pitch live f2f in front of Emin Gün Sirer -since I won first prize as a solo dev - I guess he approves and likes BooFi! :0 👻 I will finish this project for Sigma Wormhole hackathon hopefully into a live beta. Features left to do to finish: - Deploy bonus token incentives with tokenomics - smart contract template and engine done (not included in repo) - DeFi Llama TVL tracker for liquidity Hub stats - The Graph for user positions UI - BooFi AI assistant unlock as premium feature with supabase auth based on SaaS subscription to app.boofi.xyz - Fix Peanut links compatibility with smart wallets

How it's made

What challenges are you focusing on? We are focusing on project management and financial management for freelancers and SMEs in emerging markets. Nowadays, it is quite easy to work from the Global South and provide world-class services to the Global North, especially in technological and creative endeavors. This is a win-win business situation; however, that ease does not translate to the handling of payments. With BooFi, I like to think of it not just as a fintech or a web3 protocol, but as a financial inclusion platform designed to make crypto-finance accessible and easy for everyone, particularly in emerging markets. Our platform aligns with the *future of work, innovation, and human collaboration* by creating a one-stop shop where users can manage their finances seamlessly across traditional banking systems and the blockchain world, leveraging the Coinbase Smart Wallet and its USDC/US Bank Smart Account. It's noteworthy that in *Y Combinator's Request for Startups 2024*, the only mention of the word 'blockchain' pertains to the usage and adoption of stablecoins. This highlights the significant impact programmable money based on stablecoins can have. With the right architecture and UX/UI, stablecoins can unlock new ways of doing business, fostering greater innovation and expanding opportunities for all. I encourage you to read the full article to gain deeper insights into the transformative potential of stablecoin finance. https://www.ycombinator.com/rfs How does your submission address this challenge? One of the primary obstacles for freelancers and SMEs in emerging markets is the complexity and inefficiency of handling international payments. BooFi mitigates this by integrating Open Banking with Coinbase Smart Wallets and USDC-US Bank Accounts, alongside local country off-ramps. This integration transforms BooFi into a robust Neobank, offering: Through the BooFi SaaS platform (e.g., app.boofi.xyz), users can manage their clients, teams, and projects with tools such as: *Invoicing* *Emailing* *Accounting* *Financial Planning* *Project Management* *BooFi AI Assistant* By connecting Open Banking and Coinbase Smart Wallets with USDC-US Bank Accounts and local country off-ramps, our powerful 'Neobank Notion' enables our target users to not only acquire, retain, and manage their customers and businesses but also offers them USDC-first DeFi financial features. These include: With BooFi DeFi (defi.boofi.xyz) they can unlock new financial primitives only possible through Blockchain techsuch as: *Superfluid Time-Based Smart Contract Payments*: Enables milestone-based time-based payments, ensuring timely and conditional fund releases based on project progress with other teams. *Money Market DeFi Borrowing and Lending*: Provides access to decentralized financial services, allowing users to borrow and lend within a secure ecosystem. *Linked Payments on Invoices and Work*: Streamlines the payment process by directly connecting payments to specific deliverables and invoices. Once we tackle payments and new work and collaboration primitives with innovative user flows thanks to Base Smart Wallet stack, we will focus on unlocking LegalTech primitives and features for our target users - similar to how Stripe Atlas handles this with Mercury in a Notion-like platform ;) Challenges we ran into I traveled from my home country of Ecuador to Argentina to build in real life (IRL) and connect with like-minded users. Typically, I work on a desktop in my office equipped with four monitors, a supercomputer, and tend to my vegetable garden, enjoying all-year nice weather alongside my COO dog Otto and CFO cat Julia. To make this trip possible, I planned to purchase a powerful laptop. However, my credit card was flagged for a purchase over $2k on Amazon. Even after resolving the issue, it was too late for the laptop to arrive in time. I considered buying one in Argentina, but tech hardware prices here are literally insane. During the first two days, as I focused on smart contract development, my Intel Pentium Silver laptop was already reaching its limits. Oh boy, when I started coding the Turborepo, it really hurt the performance. Fortunately, I met and befriended some amazing people here with incredible creativity and great personalities. One of them kindly lent me a laptop while I am here in Buenos Aires, allowing me to continue working seamlessly. This experience not only tested my resilience but also reinforced the importance of community and collaboration in overcoming unexpected hurdles which makes for powerful drivers of community-building that the Base builder vibes must emody and keep.