This project is a blockchain-based chit fund web application that allows users to participate in a decentralized chit fund. A chit fund is a type of savings scheme popular in India where a group of people pool their money and take turns receiving the lump sum. In this web app, participants can join a chit fund, make monthly contributions, and receive a lump sum each month. The decentralized nature of the app means that there is no central authority controlling the chit fund, and all transactions are recorded on the blockchain, ensuring transparency and security.
This project is intended for anyone interested in participating in a chit fund, especially those who are looking for a decentralized and secure platform to do so. It can be used by individuals or groups looking to save money, earn interest, or receive a lump sum. It can also be used by anyone interested in blockchain technology and its potential applications in finance.
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Creating a Chit Fund: Users can create a new chit fund by specifying the chit name, prize amount, installment amount, and number of participants.
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Joining a Chit Fund: Users can join an existing chit fund by providing their name, address, and depositing their installment amount.
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Participating in Auction: Every month, a random participant is chosen as the winner of the chit fund auction. Users can participate in the auction by clicking on the "Participate in Auction" button.
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Claiming the Prize: Once a user wins the auction, they can claim their prize by clicking on the "Claim Prize" button.
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Swapping Chits: Users can request to swap their chits with other participants by sending a request message. The other participants can then accept or reject the request.
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Identity Verification: Users can verify their identity using their Aadhar and PAN card numbers. This ensures that only genuine users are allowed to participate in the chit fund.
Client: React, TailwindCSS
Server: ThirdWeb, Solidity, Polygon