In the realm of financial inclusion, empowerment and community-based savings, ROSCA (Rotating Savings and Credit Association) circles have gained significant attention as a powerful tool. These circles bring people together to save and borrow money in a structured and mutually supportive manner.
Rooted in cultures across the globe, ROSCA is a collaborative savings and lending system designed to provide participants with access to funds for various purposes, without relying on traditional banking structures.
The traditional ROSCA Model has been known for certain inherent issues such as transparency, accountability and participation barriers, making it seem non-sustainable in most cases, but has also created opportunities for Technology and digital innovations to create a more sustainable system for ROSCA to thrive.
Rotacash Finance is leading the innovations to disrupt the traditional ROSCA circle by harnessing the power of AI on the Web2 and Web3 to sustainably deepen financial inclusion on a global scale.
Launched in late january 2023, Rotacash Finance built a web2 app to enable users to either create their ROSCA groups by signing up and inviting their peers to join their group or sign up to join an existing and available group.
The team had recently shared their traction and milestones in a medium article published on their medium page;
“We are excited to share that our first weekly Rotating Savings and Credit Circles that was launched with 64 unique accounts IDs, along our web2 platform in late January 2023 has been completed successfully with Zero failed remittance from all the participants.”
Rotacash on the Web3
Rotacash Finance is leading the innovation to disrupt the traditional Rotating Savings and Credit Circles on the web3 landscape by building and deploying Smart Contract based DeFi Rotating Savings and Credit Circles insured and protected with Collateralized NFTs, with smart contract functionalities on the Binance Smart Chain Network. On launch after their token sales, every Rota Circle participant will be required to stake their Collateralized NFTs as an identity and insurance to be able to participate in, or create their own DeFi lending circles of either daily, weekly or monthly circles.
The NFTs are in 3 tiers and details of their uses and functionalities can be found on the project whitepaper on their Dapp.
As part of their web3 pre-launch campaign, Rotacash Finance is Giving away 50,000 JASPER NFTs for its Initial Minting/Tokens Airdrop exercise. Every wallet that connects to the Dapp to mint will receive 400 tokens per unit of NFT minted and additional 400 tokens for every successful referral mint. The minted NFTs will be valued at $3 floor price per unit at launch and could appreciates in value overtime. To participate, visit https://nft.rotacash.finance, click on Connect Wallet and select any of the supported wallet on the list to connect, approve and mint.
Then enter your email address on the column for email and click sign up to generate your unique referral link to share with your friends and family members, then enter your wallet address that was used for the minting to make it possible to receive your Airdrop tokens during distribution.