Fund unlimited social microlending

Create stake pools & use the rewards as collateral with liquidity partners to secure the debt funds needed, give our own tokens as rewards.

CEO: former Regional Manager of Cabify (largest Uber regional competitor) & ex-McKinsey. CTO: former Tech and Data Regional Lead for Cabify.

Who we are?

We are Kashin; we are an up and running social credit reputation app for underbanked micro-entrepreneurs in Latin America, we give immediate loans between $12.50 and $125.

Our social algorithm sets credit scores so that users increase their credit line and reduce interest rates according to their own credit behavior and their first-degree referrals.

In 5 months operating we have these results:

- USD 25,000+ lent in 1,200+ loans from 1 to 4 weeks periods

- Average interest rate of 15%* and default rate below 10% (The system has 15% default and other micro-lending startups have defaults between 20% to 40%)

- +87 NPS points (Range: -100 to +100)

- Churn below 20% & ascending volume lent COHORT

We are one of the 20 finalists from the 500 Startups Acceleration Program sponsored by the Peruvian Government in July 2021.

Our team:

Jose Manuel, our CTO, was Tech and Data Regional Lead for Cabify - the largest Uber regional competitor.

Jose Francisco, our COO, was Project Manager at Cabify and a former E&Y Consultant.

I am the CEO, before I was the Regional Manager of Cabify, before I was a Consultant at McKinsey, & Credit Analyst at HSBC

We have as mentors: The Chief Transformation Officer of Rappi, the CEO of EmCasa, the Chief Growth Officer of MuniTienda.

Why do we do this pilot?

Controlling default rates in microlending with small interest rates is very hard, but we are being very successful in that aspect with our disrupting social algorithm, we are the pioneers scaling social credits with technology*. But securing debt funds to escalate our loans to more people and geographies is our next challenge. We are Cardano advocates for a while ago and MELD inspired us to leverage stake pools engagement for a higher purpose while making a good investment for ADA holders.

With this pilot, we want to test our hypothesis that we can engage ADA holders to stake with us and achieve the goal of limitless funding for our micro-credits because without the collaboration of the ecosystem this wouldn't be feasible.

Deliverables:

1. To validate the engagement of the Cardano community with our project, we will create and evaluate the performance of two stake pools:

- One stake pool with 100% rewards support

- One stake pool with 50% rewards support

Deadline: 1 month from funding.

2. To be ready to distribute our reward tokens once we officially launch, we will define the legal framework for the retribution of our tokens to our stake pool supporters.

Deadline: 3 months from funding.

Challenge success & KPIs:

If our pilot succeeds, we will move forward switching our company funding strategy to Cardano so we will be one more Fintech using Cardano's DeFi ecosystem. Our pilot will be successful if:

After 1 month:

- We have the 2 stake pools up and running

After 3 months:

- We have more than 500 ADA holders staking in our stake pools

- We have more than 1M ADA staked in our stake pools

Budget:

- 100 hours of Senior Dev: $3,000

- Legal assessment fees: $3,000

- 2 Raspberry pi: $380

- 2 Solid state drives: $120

Partnerships:

- MELD has successfully launched the first ISPO (Initial Stake Pool Offering), with over 270M ADA staked in their stake pools. We are on track to a long-term partnership for them to provide us liquidity from 2022 onwards.

- Vent is supporting us in the legal & tokenomics for our launch to market. We aim to give a clear utility purpose and create value for our token holders with the progress of our ecosystem.

Find attached our draft for the token business model to understand the value creation flow.

*Our protocol is set at 5% profit, and we are working on automatizing interest rates for all our different user clusters.

[WE ARE UPDATING OUR BRAND & WEB PAGE IN THE UPCOMING WEEKS, PLEASE EXPECT OUR LOGO TO BE DIFFERENT TO THE ONE FIRST POSTED IN THE PROPOSAL]