Sorrel Banq - Essential Banking for Anyone. Anywhere

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

Project Goal:
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: Sorrel Banq Deck - PDF | Sorrel Banq Deck - Google Slides

Project Website: https://sorrelbanq.org | https://app.sorrelbanq.org/

Project Test Instructions:
Firstly, get some testnet USDD and gStables on Nile at https://nile.gostables.org

Then have a look at Sorrel’s Getting Startecd Guide from Jes, your AIA Concierge -

Project Details:

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 with the goStables protocol (5th place winner Defi track Hackathon Season 3). It allows users to create digital wallet accounts that can be used to 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, we have built the foundations to support several essential features:

  • Anyone can create a Sorrel Account:
    View your stablecoins in a unified view. Transferring stablecoins to non members automatically creates a New Sorrel Account for them. This includes gStables and other popular stablecoins such as USDD, USDT etc.

  • Energy Free Transfers of gStables/stablecoins between Sorrel Members, while shared resources are available.

  • Energy Free Conversions between gStables, while shared resources are available.

  • Earn gStables via Vaults: Support Sorrel by adding TRX into vaults to facilitate energy free transactions for Sorrel members.

  • Proof of concept AIA Team of 7 personalities that serve within specific roles at Sorrel. See below posts for sample content produced

  • Proof of concept Sorrel NFC Wallet Card. See below posts for design sample of real life card

Smart Contract links:

Project Milestones:

MVP for Hackathon:-

  • :white_check_mark: Phase 1: Research and planning MVP toolkit

  • :white_check_mark: Phase 2: Sorrel MVP architecture with goStables Protocol integration

  • :white_check_mark: Phase 3: PoC Sorrel NFC Wallet Card Design Alpha Preview

  • :white_check_mark: Phase 4: PoC Sorrel AIA team introduction with Jes, AIA Concierge Alpha Preview

  • :white_check_mark: Phase 5: Sorrel Banq Landing Page

  • :white_check_mark: Phase 6: Dapp back-end and front-end integration
    :white_check_mark: Dapp UI
    :white_check_mark: Sorrel Banq Depository
    :white_check_mark: Energy Free Transactions for Transfers between Sorrel members
    :white_check_mark: Energy Free Conversions/Exchange between gStables
    :white_check_mark: Sorrel’s TRX Vault

  • :white_check_mark: Phase 7: Testing of Sorrel Functionality

  • :white_check_mark: Phase 8: Functional Sorrel MVP for anyone to play with on Tron Nile Testnet

  • :white_check_mark: Phase 9 How to use Sorrel - Video Guide feat. Jes

34 Likes

Firstly congratulations for joining this Season hackatron and welcome too.

3 Likes

If I hear about bank, the first thing that pops up is centralization. Looking at account creation and others, your services will be like centralized exchanges right?

6 Likes

Thanks for your question!
Sorrel Banq’s core functionality is decentralized. In simple terms, activities such as account creation, internal account transfers etc all take place within the Sorrel Banq smart contract, where no one not even the Sorrel team will have full control of once it is deployed on-chain. That said, there are actions that users can choose to delegate to Sorrel Banq’s AI to perform.

An aspect that has not been mentioned in my OP yet is that there can be multiple Official Sorrel Banq contracts. These will represent branch locations. They can operate independently with their own community driven features but still have access to Sorrel’s core.

During this hackathon period we’ll provide updates that’ll help you and anyone reading to understand deeper, how we’re approaching decentralization at Sorrel.
:vulcan_salute:

6 Likes

Alright thank you too and I will be waiting for the updates.

2 Likes

Please, on this quote…

  1. What are the basic requirements to create account? Since you said anybody can create account

Does that extends to bot?

Congratulations on your S3 win

Welcome to s4 Hackathon.

Trust you guys ready to show us what you got in full.

Goodluck guys

2 Likes

Thanks for your question!
You will need a Tronlink wallet to start using Sorrel. You should always have your own wallet, Your keys your coins and you wallet serves as the master key for your Sorrel account.

Later on, you can optionally order a Sorrel Wallet Card which comes with an offline wallet you can generate. This can also be used to create a Sorrel account…eg. card as a gift.

Some future addons will require a user to have completed KYC and own a supported DID (Decentralized ID) to access the utility of that addon. for e.g Family Office, Sorrel ZK Privacy.

3 Likes

You might want to contact @admin.hackathon to make sure that you are in the right track. Previous participants that are building new products on top of a product that has been presented in a previous hackathon might have to post on the builder section. In your particular case I’m not too sure which track fits the best so better ask the organisation to be sure :+1:

7 Likes

This means one has to use the dapp browser in TronLink or connect TronLink to your site to be able to use your services

yep I’m also not too sure… either track is fine for us…but we chose Defi track here as we wanted to treat Sorrel as a separate project and team submission (a logical project separation/decentralization) even though I’m the same person architecting and posting for both teams.

There’s still time for us to change track …so if any forum admin sees they could evaluate and let us know the best track to tag ourselves please/thanks…

3 Likes

yep still have a month and a half to figure out :+1:

2 Likes

Yes but not necessarily a permanent state of things. Future iterations and integrations with Sorrel Card could abstract away the “techie concepts/terminologies” of tronlink and dapp browsers away…
Simplifying user experience.

so it can then be a choice of Tronlink etc or an NFC Card.

Here’s a render peek of the NFC Card. We’re waiting for some physical samples to arrive…


“I wonder where that example QR code leads to?” :wink:

3 Likes

Oh ok thank you
I get it now

1 Like

Good observations .
Hope the understand better
So the know Which track to fit in

1 Like

Welcome on board to hackathon season 4,
It has been a great features you have listed above but it will be my great pleasure to see these great features up and running on Tron chain , I wish the team and the project best of luck :crossed_fingers:,…we are here to support great projects like these on Tron ecosystem :fire:

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I would like to introduce you to Jes Canetti, Sorrel’s AIA Director of Concierge Services:

Jes’s Intro (current voice may be changed to be more realistic in the future):

The rest of the AIA Team will be introduced here on the Forum over the coming weeks.

4 Likes

Well presented.
Thanks for sharing

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I would like to introduce you to:

Alex van Anders, Sorrel’s AIA Director of Growth & Sustainability:

Alex’s Intro:

///

Jessica Brown, Sorrel’s AIA Director of Business:

Jessica’s Intro:

(Current voices may be changed to be more realistically matched in the future)

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What we are currently using for our MVP toolkit:

  • ChatGPT - Instantiation of 1 conversational AI into a team of 8 AIAs each with specific roles at Sorrel.
  • Midjourney - Text2Image generative AI for various visual components at Sorrel.
  • D-ID + Fliki - Text2Video with AI voices for Sorrel media content.

Toolkit will expand further as we progress and as needed. For instance when more resources are available we can then look at integrating with Sorrel, valuable opensource work such as:

1 Like