Growdrop is a compound-based no-loss fundraising model that provides long-term support for open source projects. In addition, anyone with a wallet could fund Growdrop and realize financial inclusion.
This open source project intends to Growdrop the TDAT (Tokenpesa) token, which is developing decentralized finance at Kenya.
TDAT Growdrop Economics:
TDAT Growdrop period: Feb 14th 2020~ Dec 14th 2020
Every round: 1 month
Monthly Growdrop Tokens: 1,200,000 TDAT
Monthly Uniswap add liquidity pool: 200,000TDAT
Interest Token: DAI (Compound)
TDAT Growdrop click here: http://dev.growdrop.io/growdrop/detail/11
TokenPesa vision:
One of the main objectives of this project is to integrate the unbanked population into conventional finance, taking advantage of new technologies, especially the Blockchain. This offers the possibility of decentralized finance (DeFi: Decentralized Finance), and even more so if you take into account the mass adoption of mobile money in Kenya.
This scenario is beneficial for both those who have banks and those who do not. Features such as convenience, speed and low transaction fees also attract more and more, those that are banked.
On the other hand, it is known that despite the numerous potential benefits of Blockchain technologies for the developing world, sub-Saharan Africa still lags in the adoption of cryptocurrencies. But if this progresses, stable currencies could provide distressed communities with access to capital, liquidity and the gateway to global markets.
What are the underlying problems and challenges?
- Lack of dedicated crypto markets. Cryptocurrency exchanges, today, do not provide a direct mechanism to enter and exit the markets in the Kenyan Shilling quickly.
- Cryptocurrency Volatility Despite the growing interest of Kenyan merchants to adopt the blockchain, most are still sceptical about the possible loss of value due to the price volatility associated with cryptocurrencies.
- Regulatory uncertainty The Central Bank of Kenya has hesitated to recognize cryptocurrencies as legal tender, mainly due to its anonymous nature. The institution has advised, again and again to the general public, not to negotiate with cryptocurrencies, which further inhibits adoption.
In essence, the TokenPesa network consists of:
1) Wrapped KSH *: An asset-backed token (stablecoin) that is linked 1: 1 to the value of the Kenyan Shilling
Wrapped KSH (WKSH) is an ERC20 token on Ethereum backed 1: 1 by Kenya Shilling. The WKSH follows the framework of wrapped tokens, but instead of relying on multiple custodians, it is based on a single network custodian and a consortium of agents. WKSH uses a simple federated government model and strives to promote usability.
This brings liquidity (the main bridge between the fiat KSH and the world of cryptocurrencies), faster transaction (accelerates the Kenyan Shilling transactions), transparency (fully verifiable mining, recording and transfer events in Ethereum public scouts), fees lower (transactions can be made with rates close to ZERO blockchain and federal government
(All agents in the network will be members of TokenPesa DAO (Decentralized Autonomous Organization).
2) TokenPesa DAO is a strong and scalable Decentralized Autonomous Organization, based on the DAOstack operating system. TokenPesa DAO Token (TDAT) is the native DAO token, while the TDAT reputation is the DAO reputation/voting points.
All DAO members will be holders of the TDAT reputation. Reputation points are non-transferable assets that represent the influence (voting power) that one has on the DAO. However, unlike the native token that cannot be removed from its owner, the reputation can be removed if its holder acts against the interests of DAO.
3) PesaDEX is a hybrid decentralized exchange, based on the Hydro Protocol. The WKSH will be used as the base token in PesaDEX trading pairs, for example (WKSH-WETH, WKSH-TDAT, WKSH-HOT); thus providing a liquidity gateway to and from multiple ERC20 tokens.
PesaDEX does not retain funds or customer information and only serves as a secure layer of order routing and correspondence. Unlike traditional DEXs, Hydro allows the development of decentralized exchanges that are immune to order collisions and frontal attacks.
How to get TDAT
This demo will show you how to fund / refund Growdrop and how to get your project tokens by withdrawing the principal at the end of Growdrop funding period.
Supporters can do the following in Growdrop:
1.Connect your wallet (Metamask)
2.Approve your account
3.Fund your DAI
4.Additional funds and refunds may be made at any time during the funding period.
5.At the end of the funding period, you will also receive TDAT when you withdraw the principal.
*The number of TDAT you receive depends on how much interest you contributed to the project. For example, let’s assume that the total interest generated in this Growdrop is 100 DAI. If Bob generates 10 DAI of interest, Bob will get a 10% share of the TDAT.
To check your TDAT in your wallet, enter the token contract address in the Add Token in Metamask!Or you can check it in Compound UI.
TDAT token contract address:
0xc8D700712B4a670a54aAb50A99ff1b040BDA8534
What is Growdrop?
Growdrop is no-loss financing solution that minimizes the trust costs of existing third parties, deposits investment funds into Compount liquidity pool, contributing interest to open source projects and ensuring investor principal. If the initial token project is not listed or there is no use, the token from Growdrop can be uploaded to uniswap to set the listing and price. You can do “uniswap creat exchange” for a certain amount of tokens and interest to those who distribute to the Growdrop pool.
About Growdrop Community
If you have any questions about Growdrop, please come to the Discord & Telegram channel! Follow the official account for the latest news on Growdrop.
Twitter: https://twitter.com/Grow_drop
Telegram: https://t.me/Growdrop
Discord: https://discord.gg/zWd38ay
