Akyba: Web3 Solution for Community Finance Models

[Proposal setup] Proposal title

Please provide your proposal title

Akyba: Web3 Solution for Community Finance Models

[Proposal Summary] Budget Information

Enter the amount of funding you are requesting in ADA

60000

[Proposal Summary] Time

Please specify how many months you expect your project to last

6

[Proposal Summary] Translation Information

Please indicate if your proposal has been auto-translated

No

Original Language

en

[Proposal Summary] Problem Statement

What is the problem you want to solve?

Community savings groups (tontines) are widely used across Africa and Asia but still rely on trust, paper records, and manual bookkeeping. This causes errors, fraud, and mismanagement.

[Proposal Summary] Supporting Documentation

Supporting links

• https://github.com/Akyba-Protocol
,
• https://github.com/Akyba-Protocol/docs
,
• https://aikenakyba.web.app
,
• https://x.com/AkybaProtocol
,
• https://t.me/AkybaProtocol

[Proposal Summary] Project Dependencies

Does your project have any dependencies on other organizations, technical or otherwise?

No

Describe any dependencies or write 'No dependencies'

No dependencies

[Proposal Summary] Project Open Source

Will your project's outputs be fully open source?

Yes

Please provide details on the intellectual property (IP) status of your project outputs, including whether they will be released as open source or retained under another licence.

All smart contracts of the Akyba-Protocol project funded by Catalyst will be released open source and published under Apache 2.0 license.

[Theme Selection] Theme

Please choose the most relevant theme and tag related to the outcomes of your proposal

Financial Services

[Campaign Category] Category Questions

Describe what makes your idea innovative compared to what has been previously launched in the market (whether by you or others).

Akyba is innovative because it turns traditional community finance ROSCA (Rotating Savings and Credit Association) and ASCA (Accumulating Savings and Credit Association) into fully autonomous, verifiable on-chain state machines.

Existing tontine apps are Web2 custodial platforms; DeFi tools do not support rotating credit groups, voting-based loan approvals, dynamic contribution tracking, or identity-bound membership.

Akyba introduces:

• CIP-68 identity-linked membership ensures transparent, tamper-proof group composition.

• Aiken-based state machines for cycles, payouts, collateral, and liquidation—removing manual trust.

• Non-custodial architecture: funds remain in script UTxOs, not controlled by an operator.

• Dual ROSCA + ASCA engine (savings + micro-credit) not available in any Cardano or Web3 protocol today.

• Designed for real emerging-market use cases (Africa, Asia) where tontines/ASCAs run at massive scale but lack transparency and automation.

Describe what your prototype or MVP will demonstrate, and where it can be accessed.

The prototype demonstrates a fully functional Cardano implementation of community finance: ROSCA and ASCA groups with on-chain state-machine logic. Users can create a group, mint CIP-68 identity tokens, join/leave, contribute, distribute rounds, apply for loans, vote, borrow, repay, and trigger collateral liquidation.

It also showcases the off-chain TypeScript engine and UI integration with real validator logic.

We currently have an early but functional MVP available at https://aikenakyba.web.app. It showcases the core on-chain logic: group creation, member onboarding with CIP-68 identities, contributions, cycle transitions, and the initial ROSCA/ASCA loan flows driven by real validator code.

Describe realistic measures of success, ideally with on-chain metrics.

Akyba’s success is measured through verifiable activity on Cardano testnet and through community usage of the MVP.

1. On-chain activity (Preview testnet)

2. All smart contracts covered by unit tests.

3. ROSCA and ASCA flows demonstrated via UI

4. Stablecoin test groups successfully run with multi-asset logic.

These metrics provide a measurable way to confirm adoption, correctness, and technical feasibility while making progress visible to Catalyst reviewers through testnet transactions and public documentation.

[Your Project and Solution] Solution

Please describe your proposed solution and how it addresses the problem

Akyba provides the first fully on-chain implementation of ROSCA (Rotating Savings and Credit Association) and ASCA (Accumulating Savings and Credit Association) community finance models on Cardano. These models known as tontines are widely used across Africa, Asia, and emerging markets for savings, micro-credit, and rotating capital but currently rely on manual trust, paper records, and inconsistent bookkeeping. Akyba replaces this fragile system with deterministic, verifiable smart-contract logic.

The protocol encodes every operation directly into Cardano’s eUTxO model using Aiken-based validators: group creation, membership, round contributions, automated payouts, loan requests, loan voting, borrowing, repayment, and collateral-based enforcement. All transitions follow strict state-machine logic supported by a State Thread Token (STT), ensuring one canonical state per group without admin control or human overrides.

Identity and membership are built using CIP-68 tokens (UserToken and RefToken). These tokens represent real participants and link every contribution, vote, and loan event to a verifiable, non-custodial identity. This eliminates impersonation, unverified claims, and off-chain manipulation.

The validator enforces payout rotation, loan approval rules, and liquidation for late repayment, removing the possibility of fraud or mismanagement.

The protocol also supports a dual financial model:

• ROSCA: rotating payout cycles for savings

• ASCA: pooled contributions with loan governance and interest-based repayment

Both run autonomously and transparently on-chain.

Akyba addresses the core problems of traditional tontines, lack of transparency, fraud, mismanagement, disputes, and zero auditability by providing cryptographic guarantees instead of trust-based coordination. The solution enables millions of ROSCA/ASCA users in emerging markets to operate secure, verifiable savings groups without administrators, banks, or custodians.

We currently have an early but functional MVP available at https://aikenakyba.web.app. It showcases the core on-chain logic: group creation, member onboarding with CIP-68 identities, contributions, cycle transitions, and the initial ROSCA/ASCA loan flows driven by real validator code.

However, funding is required to complete a full end-user prototype with production-grade backend, stablecoin support, UI/UX refinements, and full lifecycle automation.

[Your Project and Solution] Impact

Please define the positive impact your project will have on the wider Cardano community

Akyba brings significant value to the Cardano community by introducing a new on-chain financial primitive ROSCA/ASCA savings and lending groups used by millions globally.

By moving these systems on-chain, Akyba creates recurring, real-world transaction demand for the Cardano ledger.

Key impacts:

• Real-world adoption: Tontines already move billions yearly across Africa and Asia. Akyba makes Cardano the first chain with a turnkey solution for this existing behavior.

• Increased on-chain activity: Contributions, payouts, loan requests, voting, slashing, and repayments generate continuous UTxO interactions.

• Reusable open-source components: CIP-68 identity patterns, STT state-machine design, off-chain TypeScript builders, and stablecoin modules become building blocks for other Cardano teams.

• Strengthens Cardano’s global positioning: Demonstrates Cardano’s suitability for financial inclusion, microfinance, and community capital systems.

• Ecosystem growth: Akyba enables fintechs, cooperatives, NGOs, and diaspora networks to build compliant, transparent community-finance products on Cardano.

• Developer enablement: Published code, diagrams, tests, and docs help other builders accelerate their own dApps.

Akyba expands Cardano’s utility beyond DeFi speculation toward real-world, recurring financial coordination directly supporting the long-term health and transaction volume of the ecosystem.

[Your Project and Solution] Capabilities & Feasibility

What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

We currently have an early but functional MVP available at https://aikenakyba.web.app. It showcases the core on-chain logic: group creation, member onboarding with CIP-68 identities, contributions, cycle transitions, and the initial ROSCA/ASCA loan flows driven by real validator code.

Technically, the team has strong expertise in Aiken, Plutus V3, TypeScript off-chain infrastructure, Next.js frontends, and state-machine architectures. Core components STT-based group logic, contribution flows, loan voting, borrowing and repayment already run deterministically on-chain.

Feasibility is validated through:

• working smart contracts deployed on Preview

• automated tests for validator paths

• UTxO simulations for full group cycles

• real ROSCA/ASCA scenarios executed through the MVP UI

• community testing with real users

• reproducible GitHub repositories, open diagrams, and clear specs.

This combination of shipped code, transparent development, and rigorous testing provides a high level of trust and demonstrates that the team can reliably deliver the full protocol.

[Milestones] Project Milestones

Milestone Title

ROSCA and ASCA Tontines Base Features

Milestone Outputs

A functional implementation of the core ROSCA and ASCA cycle, including group creation, membership registration, contribution flows, payout rotation, loan application paths, and group termination logic. The MVP exposes these flows through https://aikenakyba.web.app/ with a clean UI and deterministic off-chain logic.

Acceptance Criteria

• Users can create a ROSCA or ASCA group from the UI.

• Members can join, contribute, withdraw, and participate in rotations.

• Loan applications, voting, borrowing, repayment, and liquidation succeed with deterministic on-chain transitions.

• CIP-68 identity tokens and STT state machines operate without failure on the Preview network.

• Complete feature parity with the specification documented in the project README

Evidence of Completion

• A deployed testnet version accessible at https://aikenakyba.web.app/

• GitHub commits showing smart-contract code and full test coverage.

• Testnet transaction hashes demonstrating successful ROSCA/ASCA cycles.

• Screenshots/video captures of group creation, contribution, voting, borrowing, and repayment.

• Updated technical documentation and diagram set in the /docs folder of the repo.

Delivery Month

2

Cost

21000

Progress

30 %

Milestone Title

Akyba Backend Development

Milestone Outputs

A production-grade backend for handling group metadata, off-chain logic, walletless interactions, analytics, and secure state management. This includes REST APIs for ROSCA/ASCA orchestration, transaction-building endpoints, identity token indexing, group history logs, and asynchronous job workers (payout cycles, loan deadlines, liquidation checks).

Acceptance Criteria

• Fully operational backend service (Node.js/TS) deployed.

• Endpoints for: group creation, membership onboarding, contributions, loan workflow, repayment, liquidation, and history retrieval.

• State synchronization between backend, Firestore/Postgres, and Cardano testnet.

• Basic rate-limiter, logging, and error-handling implemented.

• Automated integration tests demonstrating correct off-chain → on-chain behavior.

• Contracts correctly parameterized, serialized, and submitted via the backend.

• Internal admin dashboard (CLI or lightweight UI) for monitoring groups and transaction queues.

Evidence of Completion

• API Endpoints: group creation, membership onboarding, contributions, loan workflow, repayment, liquidation, and history retrieval.

• Testnet transaction hashes produced by backend calls.

• Screenshots or logs demonstrating complete cycles executed through API.

Delivery Month

1

Cost

10500

Progress

50 %

Milestone Title

Stablecoin / any-currency Support

Milestone Outputs

• Multi-asset integration enabling groups to run ROSCA/ASCA cycles using stablecoin and Cardano native asset.

• Currency abstraction module in backend handling denomination, rounding, conversion logic, reserves tracking, and interest computation.

• UI update allowing users to create or join groups using different currencies.

• Validation rules ensuring collateral, contributions, and loan amounts are all consistent per-currency.

• Optional oracle plug-in for cross-asset pricing (for dashboards and analytics, not required for protocol logic)

Acceptance Criteria

• Users can create groups denominated in any supported asset (stablecoins or native tokens).

• Successful end-to-end runs on Cardano testnet showing group creation, contribution, loan request, repayment, and withdrawal in multiple assets.

• Correctly calculate balances and contributions in correct currency.

• Unit tests covering multi-asset flows, edge cases, and asset-specific constraints.

Evidence of Completion

• GitHub commit history showing currency logic implementation and tests.

• Testnet transaction hashes demonstrating ROSCA/ASCA flows using at least two stablecoins.

• Screenshots or video of UI showing multi-currency group creation and activity.

• Documentation page describing supported assets, contract parameters, and usage examples.

Delivery Month

2

Cost

21000

Progress

80 %

Milestone Title

Akyba Frontend Development

Milestone Outputs

• Fully functional Next.js + TailwindCSS interface for configuring and operating ROSCA and ASCA groups.

• Integrated wallet connectors (Lace, Eternl, Typhon) for minting CIP-68 tokens, UTxO states handling, and transaction building.

• Group dashboard showing contributions, rounds, participants, loan requests, repayment status, and cycle history.

• UI for loan application, voting, borrowing, late repayment, and liquidation flows.

• Admin screens for group creation, membership management, and end-of-cycle operations.

• Stablecoin selector and currency-specific views aligned with Milestone #3.

Acceptance Criteria

• Users can create and join groups directly from the UI using any supported currency.

• All ROSCA/ASCA actions (contribute, vote, borrow, repay, withdraw, end group) work through the frontend with on-chain confirmation.

• Wallet connection stable across web browsers.

• All UI states synced with backend: datum decoding, group state, totals, loan queue, round status.

• Zero blocking errors in console; components pass functional tests.

• Documentation included for running the frontend locally and connecting to testnet.

Evidence of Completion

• Screenshots and/or video demo of full group lifecycle executed on testnet.

• Public deployment on https://akyba.app (or staging subdomain) showing functional ROSCA/ASCA UI.

• Testnet transaction hashes corresponding to actions initiated via the frontend.

• Updated documentation pages: “Using Akyba App”, “Wallet Setup”, “Group Operations”.

Delivery Month

1

Cost

7500

Progress

100 %

[Final Pitch] Budget & Costs

Please provide a cost breakdown of the proposed work and resources

Requested funding: 60,000 ADA

• 6,000 ADA to finish ROSCA and ASCA tontines smart contracts with delegation management and auction features
• 9,000 ADA to add stablecoin (any-currencies) support
• 45,000 ADA to develop the backend and frontend

[Final Pitch] Value for Money

How does the cost of the project represent value for the Cardano ecosystem?

Akyba delivers exceptional value relative to its cost because it converts a high-demand real-world financial system ROSCA and ASCA savings groups into a reusable, open, on-chain primitive for Cardano. Rather than building a single application, the project delivers foundational infrastructure: a full state-machine architecture, CIP-68 identity models, an off-chain SDK, open-source Aiken validators, and stablecoin/multi-asset adapters that any developer, fintech, or NGO can integrate.

For 60,000 ADA, the project produces a complete ROSCA+ASCA engine, backend, frontend, stablecoin support, and production-ready documentation. These outputs drive recurring on-chain activity (contributions, distributions, votes, repayments), expand stablecoin utility, and position Cardano for large-scale adoption in markets where tontines already move billions annually.

By publishing all validators code, tests, diagrams, and integration patterns under an open licence, Akyba also lowers development costs for future teams, strengthening Cardano’s technical ecosystem and accelerating real-world use cases.

[Self-Assessment] Self-Assessment Checklist

I confirm that evidence of prior research, whitepaper, design, or proof-of-concept is provided.

Yes

I confirm that the proposal includes ecosystem research and uses the findings to either (a) justify its uniqueness over existing solutions or (b) demonstrate the value of its novel approach.

Yes

I confirm that the proposal demonstrates technical capability via verifiable in-house talent or a confirmed development partner (GitHub, LinkedIn, portfolio, etc.)

Yes

I confirm that the proposer and all team members are in good standing with prior Catalyst projects.

Yes

I confirm that the proposal clearly defines the problem and the value of the on-chain utility.

Yes

I confirm that the primary goal of the proposal is a working prototype deployed on at least a Cardano testnet.

Yes

I confirm that the proposal outlines a credible and clear technical plan and architecture.

Yes

I confirm that the budget and timeline (≤ 12 months) are realistic for the proposed work.

Yes

I confirm that the proposal includes a community engagement and feedback plan to amplify prototype adoption with the Cardano ecosystem.

Yes

I confirm that the budget is for future development only; excludes retroactive funding, incentives, giveaways, re-granting, or sub-treasuries.

Yes

[Required Acknowledgements] Consent & Confirmation

I Agree

Yes