Project Name: Sorrel Banq
Project Track: DeFi
Team Name: Paracosm Labs (Sorrel Team collaborating with goStables Team)
Team Member(s): 3 ( @wescosmic + @Mypt + 1 AI Assistant)
Dorahacks Project Link: Sorrel Banq | Buidls | DoraHacks
Our goal is to provide financial services to the unbanked and underbanked starting in the Caribbean region and those who are often affected by foreign banking de-risking policies and other FX issues. This goal is encapsulated in our vision to create memorable, easy to use products, services and experiences.
Project Info: Deck Coming Soon
Project Website: https://sorrelbanq.org | https://app.sorrelbanq.org/
Project Test Instructions: Coming Soon
We believe that everyone should have access to financial services, regardless of their location or socioeconomic status. As the world becomes increasingly digitized, access to financial services has become a fundamental human right. However, many individuals and small businesses in developing countries are still excluded from the traditional banking system due to lack of infrastructure, resources and international banking restrictions.
Sorrel Banq is a decentralized bank for stablecoins built on top of the goStables protocol (5th place winner Defi track Hackathon Season 3). It allows users to create digital wallet accounts and access a variety of financial services, including interest yielding vaults, peer-to-peer (P2P) transactions with additional addons to be included in the future. Sorrel enables support for humans and AI.
For this hackathon, Sorrel has several essential features:
Account creation and internal transfers: Anyone can create a Sorrel account and start using the platform and its services.
Vaults: Support Sorrel Banq by adding TRX into vaults to facilitate energy free transactions for Sorrel members. Support goStables Protocol by adding USDD into vaults to help increase the protocol’s over-collateralization and stability.
Sorrel Wallet Card: Proof of concept NFC card and cold wallet to store your keys and access open source payments and your Sorrel account. In the future these cards could be used in real world payment scenarios.
Jes AIA Concierge: Sorrel also utilizes a proof of concept Jes AIA, an AI Assistant for concierge services.
Crowdfundable addons: Sorrel Banq is modular in nature, allowing for easy expansion. This allows users to stake, fund and co-build new features and services that they want to see on Sorrel.
(more details to follow here and in subsequent posts)
Smart Contract links: Coming Soon
These are tentative and may be modified during hackathon period. We are currently on Phase 3-
- Phase 1: Research and planning MVP toolkit
- Phase 2: Sorrel MVP architecture with goStables Protocol integration
- Phase 3: Back-end and front-end integration on Tron Nile Testnet
- Phase 4: Sorrel Wallet Card Alpha
- Phase 5: Sorrel AIA team including Jes AIA Concierge Alpha