Project Name: Rastro
Project Track: DeFi
Team Name: pacman
Team Member(s):@pacman
Devpost Project Link: https://devpost.com/software/rastro
Project Website: https://rastro-tron.netlify.app/
Demo Video : Video
The Problem : Rastro seeks to solve is the lack of transparency and accountability in traditional conditional cash,token transfer mechanisms. With conventional methods, once funds are distributed, tracking mechanisms become obscure, hindering the ability to trace the precise journey and utilization of the funds. This opacity poses significant obstacles in ensuring that funds reach their intended recipients and are spent appropriately. Rastro addresses this problem by leveraging blockchain technology to create a traceable and accountable channel for direct money transfers, thereby fostering transparency, efficiency, and direct impact in various sectors
Project Value and instances : Rastro provides a transparent and accountable solution for distributing conditional funds transfers, addressing the challenge of opacity in traditional methods. By leveraging blockchain technology, it ensures that funds are meticulously tracked from distribution to utilization, fostering trust and accountability in various social welfare initiatives. For instance, in critical humanitarian aid efforts, where the timely and transparent allocation of funds is paramount, rastro offers a dependable mechanism to ensure that assistance reaches those in need efficiently. Additionally, Rastro can be instrumental in disaster relief efforts, facilitating the swift and transparent allocation of financial aid to affected individuals and communities, thereby aiding in their recovery process.
Moreover, rastro can support government welfare programs, such as unemployment benefits or food assistance, ensuring that funds reaches eligible recipients promptly and transparently. In educational settings, rastro could enable schools or educational institutions to provide financial assistance to students for purchasing books, supplies, or meals, thereby promoting educational equity and accessibility. Furthermore, in environmental conservation projects, rastro could facilitate the distribution of incentives or rewards to individuals or communities for participating in eco-friendly practices, such as recycling or tree planting, thereby promoting sustainability and environmental stewardship.
Project Goal: The primary objective of rastro is to enhance the transparency and accountability of conditional token transfers, thereby enhancing the effectiveness in areas such as humanitarian aid, government welfare programs, education, and environmental conservation. By providing a traceable channel for direct funds transfers, the platform aims to guarantee that funds reach their intended recipients and are utilized in alignment with the intended purpose. Moreover, Rastro seeks to streamline the distribution process across various use cases, enhancing efficiency and mitigating the risk of funds being misused or misallocated.
Project Working:
Rastro is an innovative platform that facilitates efficient and transparent distribution of digital assets, particularly stablecoins, through a secure and accountable process. Here’s how it operates:
- Deposit into Transparent Vault: Organizations can securely deposit stablecoins into a transparent vault controlled by a smart contract on the blockchain.
- Minting Bearing Tokens: Upon deposit, the organization mints unique bearing tokens tied to the deposited stablecoins. These bearing tokens represent ownership or entitlement to a portion of the deposited stablecoins.
- Distribution to Designated Recipients: The organization distributes these bearing tokens to designated recipients, such as aid beneficiaries or designated parties, as a form of direct digital asset ownership.
- Transfer to Merchants or Services: Recipients can seamlessly transfer their bearing tokens to selected merchants or service providers approved by the organization.
- Redemption for Stablecoins: Approved merchants or service providers can redeem the bearing tokens they receive back to the transparent vault in exchange for the corresponding stablecoin value.
- Withdrawal Limits for Economic Distribution: The organization has the ability to set daily withdrawal limits for each merchant or service provider. This measure ensures an equitable economic distribution across various services and prevents concentration of resources.
Rastro operates with a focus on transparency, efficiency, and direct impact in humanitarian aid efforts, providing a traceable and accountable channel for digital asset transfers.
Technical Implementation:
- Rastro’s design draws inspiration from ERC-4626 but is a customized vault version tailored for stablecoin distribution.
- The smart contract manages the deposit and minting process, allowing the owner to control and monitor the flow of stablecoins and bearing tokens.
- Whitelisted addresses are maintained within the contract, enabling secure and restricted transfers of bearing tokens only to approved parties.
- The contract enforces withdrawal limits per whitelisted address, ensuring fair and balanced distribution of assets among designated recipients.
Project Test Instructions:
- Connect your TronLink wallet to the Rastro platform.
- Obtain some USDD from the designated contract. TRONSCAN | TRON BlockChain Explorer | 波场区块链浏览器.
Click on the mint button to get … its free - Deposit/Donate a portion of your USDD into the Rastro vault, anyone can donate it but only the vault owner will control the vault. (An equivalent amount of bearing tokens will be minted accordingly.)
- Proceed to add and approve vendor wallet addresses and set withdrawal limits for each vendor .
- Distribute the bearing tokens to the specified list of distributers. (These bearing tokens can only be transferred to the pre-approved vendors according to the vault’s rules. anything except will result in transaction failure)
- Vendors, upon receiving bearing tokens, should be able to redeem them for the original USDD based on their daily withdrawal limit.
Smart Contract links: TRONSCAN | TRON BlockChain Explorer | 波场区块链浏览器
Project Milestones:
1.Deploying on Testnets (Done): We’re gearing up to launch Rastro on testnets, ensuring a smooth and error-free experience before going live.
2. Enhancing User Interfaces (Pending): We’re dedicated to updating and refining the user interfaces, making them more intuitive and user-friendly for a seamless experience.
3. Expanding Stablecoins (Pending): In addition to USDD, we’re adding more stablecoins to our platform, providing users with a wider range of options and flexibility.
4. Smart Contract Upgrades (Done): We’re constantly improving the functionality of our smart contracts to enhance security, efficiency, and overall performance.
5. Mainnet Deployment (At the end of may): Following successful testing, we’ll be deploying Rastro on the mainnet, marking a significant milestone in our journey.
6. Building a Strong Team: We’re actively assembling a talented and dedicated team to drive Rastro forward, ensuring its success and sustainability in the long run.
very promising project. Is website ready?
! Nah the website is not ready for now stay tuned! 