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 madeI 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.