HorizonCircle
Banking the Unbanked, Empowering the Underbanked.
Demo
About
The problem it solves ### Short version (ready to paste) > **70 % of Southeast Asians are still unbanked or under-banked.** > When they need cash, they turn to pawnshops, payday apps, or Buy-Now-Pay-Later plans charging **25 – 120 % APR**, loaded with hidden fees that trap them in debt. > > At the same time, ordinary savers earn **< 1 %** on bank deposits and can’t reach DeFi yields because wallets, gas fees, and foreign-exchange ramps feel confusing and risky. Many local currencies also lose value against the US dollar, eroding what little they save. > > **HorizonCircle solves both sides of the pain.** > > * A simple phone-number login spins up a **gas-less, self-custodial smart wallet** via embedded account-abstraction, so anyone can onboard in **under three minutes**—no seed phrase, no crypto pop-ups. > * Cash is automatically held in **USD-denominated stable savings** and routed into diversified, audited DeFi pools—no tickers shown, just one live balance in either dollars or local currency, shielding members from local-currency depreciation. > * Those deposits double as collateral for **community-backed micro-loans at 12 – 18 % APR**, cutting today’s borrowing costs by roughly half while sharing the yield upside with savers. > * A **social-guarantee layer** lets friends stake tokens that can be partially slashed on default, replacing 30-page credit forms with real social trust. > > **Result:** the unbanked gain affordable, transparent credit; the under-banked finally earn meaningful returns on hard-earned cash; and the entire loop runs on open, auditable rails instead of predatory middlemen.
How it's made
Challenges we ran into # Technical Complexity Multi-protocol orchestration: Coordinating deposits, swaps, collateral supply, and borrowing across Morpho and Velodrome increases integration complexity. Mitigation: Well-defined modular interfaces, thorough end-to-end integration tests, and deterministic state transitions. Share-based accounting precision: Handling fractional ownership, rounding, and conversions (e.g., ERC4626 deposits/withdrawals) can introduce subtle bugs. Mitigation: Use industry-standard methods like previewWithdraw() with tolerance checks; extensive property-based testing. Upgradeability vs. size constraints: Keeping core contracts small while enabling safe upgrades without breaking existing circle state. Mitigation: Modular factory/proxy patterns with clear versioning and migration paths.