Inspiration
In recent times, disasters have wrecked havoc in most parts of the world and it takes time to put together emergency funds in some of these regions. This hinders recovery efforts and reconstruction for the affected communities. Life on Land aims at solving this problem in a transparent, verifiable manner in which the handling of funds is viewable to everyone. It runs on the fantom network ensuring transfers are lightning fast, and at low transfer rates.
What it does
The project allows different entities, whether individuals or organizations to make donations to a common address that is publicly viewable. When emergency need arises, the funds can be released from the wallet which is managed by multiple signatories to prevent graft. This is the initial, minimum working product of the project.
How we built it
The interface was implemented as a web app made using react. The web app interacts directly with the smart contract through the web3.js framework, without the need for an api at the moment. Donors can therefore make donations through this web app.
Challenges we ran into
The initial idea was to have donations available in both fiat and crypto, but for this an automated crypto exchange would need to be implemented. This is not possible on the testnet, as it is not possible to work with fiat-crypto pools and would need real-life liquidity to test and make. We can therefore not fully implement this without the funds it would take and limited it to crypto donations.
Accomplishments that we're proud of
That the initial project idea is working is feat deserving of pride. We were also able to map out the development process for the idea and seeing that we have it kicked off, we can build on top of the existing project to scale it to what we dream of it to be.
What we learned
Working with fantom was a learning experience as it is relatively new to half of the team. The versatility of the fantom chain compared to other chains is what is most impressive, seeing that dapps will be less costly to run. This means that a wide variety of apps can be made on the chain with transactions costing less.
What's next for Life on land
While the initial product is working, more lies ahead for the project. An admin dashboard will be implemented to enable signatories to review and vote on how funds will be distributed. This can be replaced by a custom multisig wallet to achieve the same purpose.
The fiat-to-crypto and crypto-to-fiat bridge will also be implemented so that donations can be received and paid out using fiat, removing the block of people having to use crypto solely. Donors and investors can stake by providng liquidity to this pool, where profits can be made from the conversions and proceeds going to charity.
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