{"signature": "0xfe6b0f8515468b4a2be76c48b1416e8d6f1f22e14561c426185b02f4b3aabad521f95bf79acb0bc30a343fcc7b1c1745f097cafefe86557276410fb81c8ab1eb1c", "application": {"round": "0xfe353838ba7ef47c31530041f268161d090543ac", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "p9+WyEDo5Yh3t9sDVSwZHoliAVhOM1LXrgUcIlIXhCE=", "encryptedSymmetricKey": "7d93659209669ee007daa17cf7f1ccf877733e81c9f4dfef6817439da08c7d22889170b29326a032d1038a149fc43c124d8ca274d35b2a3051c8312c5f0065e8eabbed8e925225d7c9e45135ee1da82e717db1c179a75976abe2b1d8638ea6977f3f7bacc5240af811a82ac5d273aa294b06879857d318cb6ff2ab93d4b39ef70000000000000020a9dbc109fcafc29f78e3e9356a30648c32b1fe38700817bf6acce68ff3f364997a9fd5ae76f503cb226575dd884bc9ab"}}, {"type": "short-answer", "answer": "Grants", "hidden": false, "question": "Funding Sources", "questionId": 1}, {"type": "number", "answer": "4", "hidden": false, "question": "Team Size", "questionId": 2}, {"type": "paragraph", "answer": "Sargo addresses a significant financial inclusion challenge faced by millions in Africa and other emerging markets. Traditional stablecoin on/off ramps, such as MoonPay, impose high barriers to entry, including a $30 minimum transaction and fees as high as 25% for small swaps. This makes digital finance inaccessible to low-income individuals who need it most. Additionally, many people lack the liquidity required to become agents on major platforms like Binance, preventing them from earning income through cryptocurrency transactions.\n\nSargo solves these problems by democratizing access to financial services through its decentralized application (dApp). By enabling micro-swaps starting from just $0.5 with a minimal 2% fee, Sargo breaks down the barriers that have historically excluded underbanked populations from the digital economy. The platform integrates seamlessly with widely used Web2 and Web3 wallets, such as M-Pesa and MetaMask, making P2P cryptocurrency swaps accessible, affordable, and secure. Moreover, Sargo empowers merchants to earn income on every swap they facilitate, creating new economic opportunities starting from just $0.5.\n\nBy providing low-cost, accessible financial services, Sargo is fostering financial inclusion, empowering individuals to participate in the digital economy, and driving economic growth in underserved communities across Africa and beyond.", "hidden": true, "question": "Impact statement - what real world problem do you solve and how", "questionId": 3}, {"type": "paragraph", "answer": "Sargo significantly enhances the Celo ecosystem by driving growth in users, transactions, and wallet adoption, particularly among underbanked populations in emerging markets.\n\nGrowth of Users: Sargo’s focus on low-cost micro-swaps and seamless integration with popular Web2 and Web3 wallets like M-Pesa and MetaMask makes it accessible to a wide range of users, including those who are typically excluded from digital financial services. By onboarding these underbanked populations, Sargo helps to expand the user base within the Celo ecosystem, bringing more individuals into the world of decentralized finance (DeFi).\n\nGrowth of Transactions: Sargo’s platform facilitates high volumes of small transactions, with the potential to scale to 1 million swaps annually. This drives significant transaction activity on the Celo blockchain, increasing the overall transaction volume and liquidity within the ecosystem. The more transactions conducted on Celo, the more robust and resilient the network becomes.\n\nGrowth of Wallets: Sargo encourages the use of Celo-compatible wallets through its integration and incentive programs. By making it easy for users to engage in P2P swaps directly from wallets they already trust, Sargo supports the adoption and retention of these wallets within the Celo ecosystem. The platform’s referral incentives further promote the creation and use of these wallets, expanding the wallet ecosystem and enhancing user engagement.\n\nGrowth of Savings and Liquidity: By incentivizing merchants to keep funds in their wallets, Sargo boosts liquidity within the Celo ecosystem. This not only increases the value retained on the Celo blockchain but also contributes to the stability and growth of the network.\n\nIn summary, Sargo’s innovative approach to financial inclusion not only addresses critical needs in underserved communities but also drives significant growth and vitality within the Celo ecosystem, making it a more inclusive and vibrant platform for decentralized finance.", "hidden": true, "question": "Celo leverage - how does your project contributed to the Celo ecosystem?", "questionId": 4}], "project": {"id": "0xa367cdf45b26c7df93585eb8ae38651f6d3e7fac5aa429d5b985fa9e031783b9", "title": "Sargo", "logoImg": "bafkreigtwjnckyqvsn2bxs3xfsbj2dh3feqsqdntrxzamfxve4cqxq3kyu", "metaPtr": {"pointer": "bafkreibr4nso4h2jtpjyqyzl2b4oeipmjev2ferapty3acomqlmdyacria", "protocol": "undefined"}, "website": "https://sargo.io", "bannerImg": "bafkreig27fmyis7z4ps2opvl5qmjr72kdnx5omhlutanfm3f2w772sihka", "createdAt": 1723208117737, "userGithub": "dmutinda", "credentials": {"github": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..LbTj4dTdAhJTYBuzGeVkgZfyDwEqkTcpk3sbTZ_1Wx-zdzHboQ_zzvCezAQ_YDNOejbKDGH_6Iyn86iIaIiWDQ", "type": "Ed25519Signature2018", "created": "2024-08-09T12:54:17.439Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-08-09T12:54:17.439Z", "expirationDate": "2024-11-07T12:54:17.439Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x89954a259Aa36280010139e6F8FB0E01997B4A7C", "hash": "v0.0.0:LutxABr3+EeXamtfliajNwPzMmmk/ghyoUC0ed4FWTM=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextGithubOrg#sargo-io#63787845"}}, "twitter": {"type": ["VerifiableCredential"], "proof": {"jws": "eyJhbGciOiJFZERTQSIsImNyaXQiOlsiYjY0Il0sImI2NCI6ZmFsc2V9..CEbpvfKvw5sAssdC95F_tomt9HzBOmwMf400M4SzBwLXpZ6ytjrijvXN0GxlYnKDJYwIMudAK8ar8Q0tL7jNBQ", "type": "Ed25519Signature2018", "created": "2024-08-09T12:28:50.451Z", "proofPurpose": "assertionMethod", "verificationMethod": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC#z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC"}, "issuer": "did:key:z6MkghvGHLobLEdj1bgRLhS4LPGJAvbMA1tn2zcRyqmYU5LC", "@context": ["https://www.w3.org/2018/credentials/v1"], "issuanceDate": "2024-08-09T12:28:50.451Z", "expirationDate": "2024-11-07T12:28:50.451Z", "credentialSubject": {"id": "did:pkh:eip155:1:0x89954a259Aa36280010139e6F8FB0E01997B4A7C", "hash": "v0.0.0:Jxjeg0+2sFPiBDzQNszCbqb6jvsQLLaSlJLokwbX1uQ=", "@context": [{"hash": "https://schema.org/Text", "provider": "https://schema.org/Text"}], "provider": "ClearTextTwitter#SargoSwap"}}}, "description": "# Sargo.io: Buy, Sell, and Earn from Just $0.5 with Any Wallet\n\nImagine a platform where you can earn, buy, and sell for as little as $0.5, all with the convenience and security of your favourite wallets. Welcome to Sargo.\n\n![Sargo Overview](https://drive.google.com/uc?export=view&id=1coHt9J5T-JA8qv2HTWmQRyjWZ15uydlM)\n\n## Problem Statement\n\nCurrent stablecoin on/off ramps have high barriers to entry, with platforms like MoonPay requiring a $30 minimum and charging up to 25% fees for small swaps. Many also lack the liquidity to become agents on major platforms like Binance, preventing them from earning income through swaps.\n\n## Solution: Sargo.io\n\n- **Low-Cost Micro-Swaps**: Swap stablecoins from just $0.5 with a minimal 2% fee, making recurring transactions affordable.\n- **Accessibility**: Swap directly from the wallets you already use and trust, like MetaMask and M-Pesa, making P2P swaps accessible from any wallet.\n- **Scalability**: Sargo aggregates liquidity across thousands of non-custodial wallets, ensuring seamless and efficient swaps while minimising risk by allowing users to keep their funds in their wallets as long as possible.\n- **Income**: Empower merchants to earn on every swap they facilitate, creating income opportunities starting from just $0.5, with earnings deposited back into their wallets after each swap.\n\n![Sargo Flow](https://drive.google.com/uc?export=view&id=1jxpK3Fp2STC-aIx8K-vfQrj2Iuh-ESCr)\n\n## Benefits to the Celo Ecosystem\n\n- **Growth of Users**: Sargo’s micro-swaps and wallet integration can onboard new underbanked populations, significantly increasing the number of Celo ecosystem users.\n- **Growth of Savings**: By incentivizing merchants to keep funds in their wallets, Sargo boosts liquidity and value within the Celo blockchain.\n- **Growth of Transactions**: With a target of 1 million swaps annually, Sargo will drive significant transaction activity on the Celo blockchain.\n- **Growth of Wallets**: Sargo promotes the use of Celo-compatible wallets through integration and referral incentives, expanding the wallet ecosystem and enhancing user engagement.\n\n## Competition\n\nSargo is the only non-custodial P2P dapp that seamlessly aggregates liquidity and users across both Web2 and Web3 wallets.\n\n![Sargo Competition](https://drive.google.com/uc?export=view&id=1t24W9EF0-NVjjb7svTVLJOk98rwUr8xi)\n\n## Milestones\n\n- **Q4 2024**: Expand market presence in Kenya. Engage 5,000 Impact Market users to test liquidity and responsiveness. Prepare for MiniPay integration with a focus on product, liquidity, and incentives for low-income users.\n- **Q1 2025**: Support more wallets, such as Opera MiniPay, I&M Bank, and Equity Bank. Establish liquidity to handle 1,000 sub 5-minute swaps. Scale to 10,000 swaps using marketing, swap, and speed incentives. Design V2 to automate aggregation, matching, and incentives to make Sargo as easy as MoonPay.\n- **Q2 2025**: Expand supported payments, tokens, and currencies. Grow the user base by expanding to new markets like Nigeria. Improve revenue of existing users via more pairs, features, and partnerships.\n\n## Funding\n\n- **Grants**\n\n## Conclusion\n\nSargo addresses a critical problem: the prohibitively expensive and inaccessible nature of current stablecoin on/off ramps for smaller swaps. Support us in bringing financial access and opportunities to more underserved communities across Kenya and beyond, starting from just $0.5. Let’s make a real impact on those who need decentralised finance the most.\n", "lastUpdated": 0, "projectGithub": "sargo-io", "projectTwitter": "SargoSwap"}, "recipient": "0x89954a259Aa36280010139e6F8FB0E01997B4A7C"}}