Chit Fund - a community approach to borrow and Lend Money.
Chit Funds are saving cum loan investment, In these types of funds, a group of contributions pools in a fixed amount of money, and through comparative bidding, each contributor gets to win the pot once.How it's made
I used Solidity 0.6.8, and truffle to write my contracts, deployed it on Koven testnet. I tried using Truffles Drizzle react component, but it did not work for me. There is also a factory contract, which helps a Contract owner to create child contracts. Child contracts are an independent Chit Fund Contract. Advancements: Below features can be added, and I will work on it next. 1. A UI for the Smart Contract 2. Once the manager of the chit fund receives the installment, bidding for the money will occur after a month, So we can lend the collected ETH to Aave Loan Contract or Compound Loan Contract.