CLPD, The Chilean Peso Stablecoin.

Demo

About

Why are you participating for Based LatAm? We are participating in **Based LATAM** because we want to change the status quo of crypto adoption in Chile and LatAm, and we are doing it by building the first Chilean peso stablecoin. We are a team of builders from all over LATAM — **Chile, Argentina, Bolivia, Colombia, and Venezuela** — building the first Chilean peso stablecoin, issued on **Base**. It's a fully backed **1:1 redeemable Chilean peso stablecoin**, with online verified proof of reserves that will enable: - National and international transfers. - Payments. - Access to digital and real-world assets. - Lending and borrowing services. This will provide these services to **millions of Chileans**. We believe that the future of finance in Latin America lies in providing **more transparent, secure, and accessible financial tools**, and our stablecoin is a key element to make that happen. By leveraging **Base’s Layer 2 technology**, we are building a solution that is **scalable**, **cost-effective**, and open to millions of people who are currently underserved by traditional financial systems. Our goal is to **break down barriers**, empowering individuals and businesses to seamlessly interact with blockchain technology in their daily financial activities. Participating in **Based LATAM** gives us the opportunity to connect with a thriving community of **innovators and developers**, pushing forward the adoption of blockchain solutions across the region. We are excited to **showcase the potential** of our project, **learn from others**, and **collaborate** to create a decentralized and inclusive financial ecosystem in LatAm. Our stablecoin will serve as a **bridge between the real economy and the crypto world**, fostering a new era of **financial inclusion** for all. Additional Features Everything in this project was built duting the Buildathon. The team has been working together, and built **Mistokens.com**, a marketplace for **real-world assets (RWA)** in LATAM, which provides comprehensive **tokenization services** to legally launch security tokens. Our platform is designed to facilitate the sale and management of tokenized assets, ensuring a **seamless experience** for businesses looking to leverage the advantages of **blockchain technology** in the financial sector. In addition to this, we are developing **internal products**, with **CLPD**, our **Chilean peso-backed stablecoin**, being the first of these initiatives, actively built during this hackathon. This token will play a central role in enhancing our marketplace's ecosystem by enabling **stable digital transactions**.

How it's made

What challenges are you focusing on? ### Access and Onboarding for Everyone Our **primary focus** is on solving the challenge of **access** and **onboarding** to blockchain technology for everyday Chileans and LatAm users. In a region where many people are **unbanked** or **underserved** by traditional financial systems, the demand for a **stable, secure, and easy-to-use** digital financial solution is undeniable. That’s why we created a stablecoin, backed **1:1 by the Chilean peso**. It acts as a **gateway** for those unfamiliar with crypto, offering a **secure entry point** to the world of digital assets and services. Our platform is being designed with **simplicity in mind**, featuring interfaces that are **intuitive** and **user-friendly**, so anyone—regardless of tech expertise—can easily begin using it. ### Education and Building Trust Beyond onboarding, we’re tackling another critical challenge: **educating users** on the benefits of blockchain. Many people in Chile and across Latin America are hesitant to embrace cryptocurrencies due to a lack of understanding or **trust** in the technology. With **Base’s** support, we’re creating a platform that prioritizes **transparency**. By providing **on-chain proof of reserves**, we’re making sure users can **trust** the system. This transparency is essential in fostering confidence and **ensuring** that the stablecoin is not just reliable, but **secure**. Visit the proof of reserves site: https://clpd.mistokens.com/en/reserve How does your submission address this challenge? Our submission tackles the challenge of access and onboarding by introducing a **Chilean peso-backed stablecoin** on **Base’s Layer 2**. This stablecoin serves as a **bridge between traditional finance** and the blockchain world, offering a **stable, familiar asset** for users in Chile and throughout LatAm. By focusing on a **1:1 fully backed and redeemable peso**, we eliminate the **volatility concerns** that often deter new users from exploring cryptocurrencies, making this an **ideal entry point** into the digital economy. Additionally, we’ve enabled **pools** that allow users to easily convert to **USDC or other digital assets** with just a few clicks. The **potential impact** of this project is vast. It opens up a range of **financial opportunities** for millions of individuals and businesses. Users can conduct **everyday transactions** such as **payments, remittances, and transfers** with ease, both domestically and internationally. Moreover, it gives them access to **decentralized finance (DeFi) services**, including **lending, borrowing, and investment** in digital assets—services that have historically been out of reach for most. Our platform is built with a **user-centric approach**, focusing on **simplicity, security, and transparency**, ensuring a **seamless onboarding process** regardless of users’ technical expertise. This project has the potential to **significantly boost crypto adoption** across LatAm, particularly in Chile, where stable access to financial tools remains limited for many. By providing a **trustworthy digital asset** backed by **transparent reserves**, we are promoting **greater financial inclusion**, enabling users to participate in the growing digital economy and benefit from **blockchain innovations**. Challenges we ran into Our most significant technical challenge during the buildathon was constructing our own **proof of reserves system**. One key challenge we faced was the **lack of availability of Chainlink Any API** on Base Mainnet, which we initially used to connect the bank’s API with our Smart Contract. After successful tests on **Base Sepolia**, we had to switch to **Chainlink Functions** for deployment on Base Mainnet. Another hurdle was Base's **low liquidity**, which prevented us from purchasing **LINK tokens** directly on the network. To solve this, we: 1. Bought **LINK on Ethereum**. 2. Used **Chainlink CCIP** to transfer the tokens to Base. For **Uniswap integration**, we wanted users to swap tokens directly from our website without needing to visit Uniswap. To achieve this, we developed and deployed a **SwapRouter02 Smart Contract** on Base Mainnet, which streamlined the token swap process for our users. From a brand perspective, we were initially uncertain about how to name the token. After testing several ideas with members of the local web3 community, the concept of "**peso digital**" emerged as the most popular. As a result, we chose **CLPD** as the token name, standing for **"CLP Digital"** or **"peso digital"**. In addition to these challenges, there was considerable uncertainty surrounding **regulations** in Chile regarding stablecoins, especially given previous attempts at creating one. We managed to navigate these legal complexities with the help of **legal counsel**, ensuring our project complied with all necessary regulations.