Myo.Finance

Combine paper and digital currencies to transform people’s livelihood

Source Code

Technologies

Ethereum

Solidity

Matic

Gas Station Network

Description

Fast and efficient crypto money allows people to collaborate, coordinate, and trust each other. We combine paper and digital currencies to transform people’s livelihood; while their lives are governed by local money, digital tokens leverage blockchain technology and make possible services that would not be available otherwise. Over 2Bn people are unbanked; the only way to provide banking services to them, is to let them have their own bank. It won’t look like the banks we already know, nor its services like traditional banking, except for their purpose. Having stable coins in local currencies is the first step to achieve this goal. The first stable we are targeting is a coin designed to follow the argentine peso. Among other things it will allow us to: Create chainable promises of payment (IOUs), and unlock lending within value chains by leveraging existing trust and liquidity. Provide financial derivatives that detach risk from cash flows, helping those who need predictability, and those who can profit from mispriced risk, and instrumental to mitigate counterparty risk. A self-organizing federation that can coordinate people and business so they can issue credit, process payments, and hedge against risks.

How It's Made

We are making heavy use of already deployed code. For this event, our primary goals are: 1) Reuse MakerDAO's CDP contracts to enable minting of our stable peso, collateralized by USD stables (DAI, USDC, yUSD) 2) Provide a simple UI to interact with the CDPs 3) If possible, deploy PAI on L2 (Like Matic or Optimism) to enable efficient payments.

Team

Federico Kattan
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