{"title": "ReFi Medellin Lending Protocol", "logoImg": "bafkreiaiebaz2xpxuduenpto33he4oo52tljv6nacjr3masuga3duxdw3a", "website": "https://refimedellin.org", "bannerImg": "bafkreiegevz46mpfeksdv2ibhwwrii2klmccndjzeqd3lg6auptyyc6ubu", "createdAt": 1730131706777, "userGithub": "adminrefimedellin", "credentials": {"github": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..TtiB2Liu9cOJwpMlKChyEV9GhuH7SdSl4KBwpEa0d14QO7ajtDJPZhUsmHo64mr6NVq0HrhK00J5oX13Dw0QDA", "type": "Ed25519Signature2018", "created": "2024-10-28T16:11:16.064Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-10-28T16:11:16.063Z", "expirationDate": "2025-01-26T16:11:16.063Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x302E2A0D4291ac14Aa1160504cA45A0A1F2E7a5c", "hash": "v0.0.0:9H+Ym5zZdCnd1XMo7a6qNY6PN64n2fpNNnFaoqHRi1U=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextGithubOrg#ReFiMedellin#132220829"}}, "twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..t4yF2BmMu8u3sTRSvdT3z29jYQUPwnYhIhfLj9NKIyR4n4-sKjtv3-fDx6mw5L5ZfKBQZH2W2XKjPtPV-RQaAQ", "type": "Ed25519Signature2018", "created": "2024-10-28T16:08:20.273Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-10-28T16:08:20.273Z", "expirationDate": "2025-01-26T16:08:20.273Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x302E2A0D4291ac14Aa1160504cA45A0A1F2E7a5c", "hash": "v0.0.0:vNpPKSGBIYxCVZn003V/t9Wdoa5Hg5DmQCb/Hu0AsF8=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#ReFiMedellin"}}}, "description": "## Project Overview  \nReFi Medell\u00edn\u2019s open-source lending platform, launched in December 2023, offers a transparent, decentralized lending system designed to expand financial inclusion in Medell\u00edn. Our platform provides **low-interest, collateral-free loans** to support essential needs like healthcare, education, and daily expenses, strengthening individuals and the community within a **decentralized, community-focused model**. Operating on **Celo, Optimism, Polygon, and Arbitrum networks**, with loans provided in **GloDollar (USDGLO)**, ReFi Medell\u00edn is pioneering accessible financial solutions tailored for underserved communities.\n\n## How It Works  \nOur lending platform emphasizes community engagement and decentralized governance. To qualify for a loan, applicants must:\n- Be actively involved in ReFi Medell\u00edn,\n- Attend at least three community events, and\n- Have three endorsers from the community who hold a ReFi Medell\u00edn NFT.\n\nOnce these requirements are met, applicants submit their wallet and endorser addresses. This decentralized, community-based model fosters trust and accountability, while platform governance remains transparent and member-driven.\n\n## Affordable Interest Rates  \nWith a **0.5% interest rate**, the lending platform provides loans at a significantly reduced cost, promoting financial stability and allowing members to achieve their goals without facing the burden of high-interest debt.\n\n## Combating Predatory Lending  \nIn Colombia and throughout Latin America, informal \u201cgota a gota\u201d loans frequently trap individuals in high-interest debt cycles that lead to exploitation and violence. Our platform offers a secure, low-cost alternative, empowering community members to avoid these predatory practices and build financial resilience.\n\n## Long-Term Impact  \nEach repaid loan strengthens the platform, circulating financial resources within the community to support a sustainable, regenerative ecosystem. This cycle fosters a supportive network, enabling continued access to credit and reinvestment in the community\u2019s social and economic well-being.\n\n## Alignment with GG22 OSS Round Goals\n1. **User-Centric Design**: The platform is designed for accessibility, with simple lending criteria and a low-barrier interface ideal for Web3 newcomers.\n2. **Ecosystem Growth**: By integrating decentralized finance into community activities, ReFi Medell\u00edn broadens Web3 access, creating inclusive opportunities in an underserved region.\n3. **Innovative Use Case**: The collateral-free, reputation-based model using GloDollar offers a safe alternative to traditional and informal loans.\n4. **Open Source Commitment**: Fully open-source, ReFi Medell\u00edn prioritizes transparency, ethical practices, and adaptability, serving as a model for community-focused financial technology.\n\n## Objective for Funding  \nThis funding will allow us to:\n- **Enhance platform usability** for new users,\n- **Expand liquidity and outreach**, supporting a wider range of community loans,\n- **Scale educational efforts** to equip users with skills to engage in decentralized finance.\n\n## Conclusion  \nReFi Medell\u00edn\u2019s lending platform is a transformative tool for community empowerment and financial inclusion. With GG22 OSS support, we can expand this safe, accessible financial alternative, fostering sustainable development in Medell\u00edn and establishing a model for regenerative urbanism.\n", "logoImgData": {}, "bannerImgData": {}, "projectGithub": "ReFiMedellin", "projectTwitter": "refimedellin"}
ReFi Medellin Lending Protocol
## Project Overview  
ReFi Medellín’s open-source lending platform, launched in December 2023, offers a transparent, decentralized lending system designed to expand financial inclusion in Medellín. Our platform provides **low-interest, collateral-free loans** to support essential needs like healthcare, education, and daily expenses, strengthening individuals and the community within a **decentralized, community-focused model**. Operating on **Celo, Optimism, Polygon, and Arbitrum networks**, with loans provided in **GloDollar (USDGLO)**, ReFi Medellín is pioneering accessible financial solutions tailored for underserved communities.

## How It Works  
Our lending platform emphasizes community engagement and decentralized governance. To qualify for a loan, applicants must:
- Be actively involved in ReFi Medellín,
- Attend at least three community events, and
- Have three endorsers from the community who hold a ReFi Medellín NFT.

Once these requirements are met, applicants submit their wallet and endorser addresses. This decentralized, community-based model fosters trust and accountability, while platform governance remains transparent and member-driven.

## Affordable Interest Rates  
With a **0.5% interest rate**, the lending platform provides loans at a significantly reduced cost, promoting financial stability and allowing members to achieve their goals without facing the burden of high-interest debt.

## Combating Predatory Lending  
In Colombia and throughout Latin America, informal “gota a gota” loans frequently trap individuals in high-interest debt cycles that lead to exploitation and violence. Our platform offers a secure, low-cost alternative, empowering community members to avoid these predatory practices and build financial resilience.

## Long-Term Impact  
Each repaid loan strengthens the platform, circulating financial resources within the community to support a sustainable, regenerative ecosystem. This cycle fosters a supportive network, enabling continued access to credit and reinvestment in the community’s social and economic well-being.

## Alignment with GG22 OSS Round Goals
1. **User-Centric Design**: The platform is designed for accessibility, with simple lending criteria and a low-barrier interface ideal for Web3 newcomers.
2. **Ecosystem Growth**: By integrating decentralized finance into community activities, ReFi Medellín broadens Web3 access, creating inclusive opportunities in an underserved region.
3. **Innovative Use Case**: The collateral-free, reputation-based model using GloDollar offers a safe alternative to traditional and informal loans.
4. **Open Source Commitment**: Fully open-source, ReFi Medellín prioritizes transparency, ethical practices, and adaptability, serving as a model for community-focused financial technology.

## Objective for Funding  
This funding will allow us to:
- **Enhance platform usability** for new users,
- **Expand liquidity and outreach**, supporting a wider range of community loans,
- **Scale educational efforts** to equip users with skills to engage in decentralized finance.

## Conclusion  
ReFi Medellín’s lending platform is a transformative tool for community empowerment and financial inclusion. With GG22 OSS support, we can expand this safe, accessible financial alternative, fostering sustainable development in Medellín and establishing a model for regenerative urbanism.

ReFi Medellin Lending Protocol