Iterative
A banking app enabling retail users to deposit EUR/USD and earn interest in assets like BTC, digital gold, and tokenized ETFs, offering upside potential while keeping principal secure and accessible.
About
The problem it solves Your project addresses several key issues for your target users: 1. **Limited Access to High-Yield Investments**: Many individuals, especially those in regions with restrictive financial markets or who are unbanked, lack access to high-potential financial products like crypto, stocks, and tokenized assets. Your app opens these opportunities to a broader audience. 2. **Risk-Free Principal Preservation**: Cautious users typically avoid high-yield investments because they don’t want to risk their capital. By investing only the interest earned, your app allows users to benefit from these assets’ upside without risking their principal. 3. **Low Returns on Traditional Savings**: Traditional bank savings often yield minimal interest, especially in low-interest-rate environments. Your app enables users to achieve higher returns by reinvesting interest in high-yield asset classes, addressing the “opportunity cost” of low-yield savings. 4. **Instant Liquidity**: In many savings accounts, accessing funds quickly can be difficult or delayed. Your app offers instant access to both principal and interest, giving users greater financial flexibility. 5. **Accessibility for Low-Capital Investors**: Many high-upside investments require a substantial initial capital or are typically tailored for high-net-worth individuals. By requiring only a low deposit and reinvesting only earned interest, your app democratizes access to these assets. 6. **Enhanced Financial Inclusion**: For the unbanked, traditional savings options and high-upside investments are nearly inaccessible. Your app bridges this gap, allowing users without banking services to participate in wealth-generating financial products.
How it's made
Challenges we ran into We faced challenges onboarding Web2 users and implementing account abstraction. As a trustless banking app without access to users' funds, it was essential to select the most secure smart contracts and account providers. We explored numerous solutions before finalizing our current stack. Additionally, configuring ERC-4337 and setting up paymaster policies presented significant technical hurdles. Moreover, since pyUSD is available on the Ethereum Sepolia testnet, but there are no pools with pyUSD on the AAVEv3 platform there, we had to test our pyUSD-PAXG vault on the mainnet instead, which added complexity to our development process.