Instant Cash
Buy now pay later with ETH collateral from Coinbase.com. No credit score check required. Low-cost solution. Easy to use for non cripto people.
About
The problem it solves Traditional financial services in emerging markets often lack accessibility and fairness, particularly for individuals without or with poor credit scores. Our project addresses this issue by leveraging the power of DeFi to provide a trustless, transparent, and efficient solution. ## Inspiration We believe that solving real-world problems faced by non-crypto users is key to gaining widespread adoption in the crypto space. Our focus is on providing quick, fair financing to individuals in regions where traditional financial services are often inaccessible or unfair. Our main goals are: 1. By leveraging the power of DeFi, we aim to offer a trustless, transparent, and efficient solution to meet these needs. 2. By targeting the unbanked and underbanked populations in LATAM, Africa, and Asia, we can make a significant impact on financial inclusion. ## Features - **Buy now pay later with ETH collateral**: Users can make purchases using their ETH from Coinbase.com as collateral, allowing them to spread the cost over four monthly payments. - **No credit score check required**: InstantCash is a fully trustless DeFi app that requires no credit score check, making it accessible to a wider range of users. - **Low-cost solution**: There are no hidden fees, and the app will sponsor the gas fees, making it a low-cost solution for users. - **Easy to use**: Users can connect to InstantCash using their Coinbase.com account, making it easy to use and accessible to a wide range of users. ## Benefits - **Quick financing for the forgotten ones**: Provides access to quick financing for individuals in emerging markets. - **Fair plans**: Offers a fair and transparent payment plan. - **Trustless**: Leverages the power of DeFi to create a trustless, efficient solution. - **Widespread**: Taps into Coinbase.com's user base of over 100 million users worldwide.
How it's made
Challenges we ran into The main feature we wanted to offer which is using Coinbase.com's ETH as collateral depends on the Magic Spend feature from the Coinbase Wallet, but that feature is not enabled when the apps are running on the Testnet, so it is no way to test our full use case. However, we are confident that our solution would be working properly on Mainnet, and that has a huge potential to unlock more revenue streams for Stripe's merchants. This was our first time implementing the Coinbase Wallet SDK, so we struggle at the beginning with the connections. Thanksfully Coinbase's documentation and samples were really helpful. Besides, the Base team in Discord were super responsive making our experience smooth.