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cycle.txt
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cycle.txt
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About Cycle Stark
During the hacker house I will be building a MaryGoRound system called Cycle stark, a system in which people create a group called a collective, and they set rules like houw much each round of fund collection will be given out by each member, the period between 1 round and next round like 7 days, the fine to be paid if one does not pay at a given point and the fine can be used as profits at the end of a given cycle. Before the first round starts, each member is required to lock a sum equal to the single round amount times number of heroes (collective member). So an amount locked = round_amount * no_of_heroes. The locking mechanism is to ensure that no member is not defrauded. Lets say hero x pays the first round and misses the rest, the locked amount will be deducted on each round to make sure that nobody goes into loss. Also the system will have blacklisting features to make sure it blacklists those who exit before the cycle is over. Once the cycle is over, one can decide to withdraw their locked assets and or leave them their for the next collective they will be joining. all payouts will go to the heroes accounts within the system and they can decide whether to withdraw or not. A reason as to why I decided to build this project, is to enable people from different backgrounds/regions to be able to help each other. I can say that, you can have $100 today another $100 tomorrow but not $1, 000 at once, and what you want to purchase is about $2, 000. So this Cycle Stark can help you have the $2, 000 at once use the sum amount and pay the $100 slowly over a period of time without taking a loan for the same. Starknet is a better environment for such a system for reduced fees, security and quick transactions.
About scholarship
This scholarship will help me in paying for the flight to and fro Instanbul and Nairobi Kenya. Also it will help me in any of the movements that I might make while at Instanbul
Contribution to starknet eco
In the starknet ecosystem I have worked with a number of Starknet developers helping them overcome the challenges they have come across while setting up their coding environment ie making sure they have got proper autocomplete by cairo-language-server on vscode, starknet-devnet is properly working and how to use it to its fully potential, using other tools from starknet foundry like sncast and snforge, using scarb, learning cairo language and writing smart contracts. I have worked with Web3Clubs (@Web3Clubs twitter) as an intern to help different developers learn and develop smart contracts using cairo. I personally have been learning cairo, overcoming different challenges with the help of cairo devs, writing helpful blog posts about Starknet (here https://livesoftwaredeveloper.com/articles/). I am also planning to release a video on how to code on cairo from beginner to advanced levels of smart contract development, frontend development of the same and deploying to both local nodes(Katana, starknet-devnet), testnet and mainnet.
Why would be best person
I have been able to build a product(though not on Mainnet) on DeFi which is a p2p non-custodial marketplace on another chain(Near) which am also working to translate to EVM compatiple. In addition, I have worked on a donation platform for EVM compatible networks called Shift a Life which was one of Ethsafari winners (Kilifi, Kenya 2023) and am currently working on Cycle Stark also under DeFi.
As a fullstack developer, working on both sides has made have a considerable amount of knowledge and understanding on how systems operate. I am also working on my own startup called Live Software Developer Ltd that offers IT services. Furthermore with Live Software Developer Ltd, we have mentoring classes in which I take part in where we help onboard new developers by training them on the coding basics and guide them on how to learn more and to be able to choose the paths they would like to take in the future.
Mentoring is one of the things I like doing as a fullstack developer reason being it helps me to learn things that I had not learnt or taken a keen eye on and also helping others get to know something new or know something better or from a different point.
About Cycle Stark
Cycle Stark is a decentralized system designed to facilitate collaborative fund pooling among participants, fostering financial cooperation and empowerment. Within this platform, individuals can form collectives, each of which establishes specific rules governing the distribution of funds during rounds. Participants collaboratively decide on factors such as the amount allocated per round, the duration between successive rounds (e.g., 7 days), and penalties for non-compliance.
To ensure the integrity of the system, members are required to lock a predetermined sum, calculated as the product of the round amount and the number of collective members. This locking mechanism serves as a security measure, safeguarding members from potential fraudulent activities. In the event that a member fails to contribute in a given round, the locked amount is gradually deducted, preventing any participant from incurring losses due to non-compliance.
Cycle Stark incorporates a blacklisting feature to deter premature exits from the system. Members who exit before the designated cycle concludes may face consequences to uphold the integrity and fairness of the collaborative effort.
At the conclusion of each cycle, participants have the option to withdraw their locked assets or leave them for the subsequent collective they may choose to join. Payouts are directed to individual participant accounts within the system, providing flexibility for members to decide when and how to access their funds.
The motivation behind developing Cycle Stark is to create an inclusive financial environment that transcends geographical and socioeconomic barriers. This platform aims to empower individuals by enabling them to collectively accumulate larger sums over time, addressing the challenge of having insufficient funds for significant purchases. Leveraging Starknet's advantages, such as reduced fees, enhanced security, and efficient transactions, Cycle Stark strives to offer a seamless and reliable financial collaboration experience for its users.
Get Designer
Hello Fiverr community! I'm in the early stages of developing a unique project called CycleStark, a decentralized cyclical funding platform on Starknet's Layer 2 for Ethereum. I'm looking for a talented web developer who can bring this vision to life with a user-friendly and visually appealing website.
Key Requirements:
Website to be built on ReactJs using Vite (Typescript language)
Responsive Design: Create a responsive and intuitive website to ensure a smooth user experience across devices.
Cyclical Funding Display: Implement a dynamic display of cyclical funding cycles, showcasing the platform's unique features.
User Dashboard: Develop a user-friendly dashboard for heroes to track their collectives, contributions, and upcoming cycles.
What I'm Looking For:
I'm seeking a skilled developer who is not only proficient in web development but also has a passion for creating innovative platforms. If you're excited about decentralized finance, community empowerment, and have the technical expertise to bring this project to life, I'd love to hear from you!
More information:
Visit a working demo here: https://cyclestark.supercodehive.com/
If you don't know anythin about crpto ie how to use metamask and other webwallets you can take a look at the different pages to give you guidance on design but you will still need argentX or braavos wallet. Install ArgentX, just search fo ArgentX on chrome or brave. Once you have it installed, follow the extension procedure to create and secure your account. Then proceed to switch network to testnet on the top right corner to testnet.
Create a new account here on testnet, and click on add funds, then click on Get test ETH, you will be redirected to a faucet page where you need to pass in your address, open argentX and click on the address on testnet to copy the address.
Once you obtain those tokens, proceed to connect your wallet and start moving around the site.
Why cycle stark
Cycle Stark, an open-source decentralized finance (DeFi) platform built on Starknet Chain, significantly contributes to the evolution and enhancement of the wider Ethereum and Web3 ecosystem. By leveraging Starknet's L2 scaling solution, the platform addresses scalability challenges, reduces transaction fees, and enhances overall performance, thus promoting efficiency within the Ethereum blockchain. The commitment to smart contract security, evidenced by a locking mechanism and penalties for non-compliance, sets a standard for reliability in decentralized financial interactions. Additionally, Cycle Stark's emphasis on financial inclusivity, where individuals from different geographies form collectives and collaboratively manage funds, aligns with the broader goals of Ethereum and Web3 by empowering users globally. This global approach not only fosters a culture of experimentation and collaboration but also significantly increases onboarding to Web3, contributing to the ongoing evolution of the decentralized ecosystem.