Builder Project Name: Tropykus
Submission Date: November 29, 2024
Team behind: Mauricio Tovar, David Felipe Carvajal
Sector: Decentralized Finance (DeFi)
Links to Deck / Video / Images: Ahorros y préstamos seguros en bitcoin y dólares digitales
Description: Tropykus is a decentralized financial protocol that enables people to save and access capital through stablecoins and loans backed by Bitcoin. Our platform offers inclusive financial services tailored to emerging markets, providing users with an accessible, transparent, and Bitcoin-native alternative to traditional banking.
Product: Tropykus offers two primary products designed to empower individuals in emerging markets:
- Saving in Digital Dollars:
Tropykus allows users to deposit stablecoins, such as DOC and USDRIF, into savings pools. These savings accrue variable interest rates, enabling users to grow their funds over time. The interest rates are determined algorithmically based on supply and demand, ensuring a fair and decentralized system. This product offers a simple and reliable way for users to protect their wealth from local currency devaluation and inflation in Latam. - Borrowing with Bitcoin and Stablecoins:
Tropykus enables users to access over collateralized loans by borrowing stablecoins, specifically DOC and USDRIF, using multiple types of collateral: RBTC, BPRO, or DOC. This flexibility allows users to secure loans tailored to their needs while preserving their long-term assets. Loans are managed through smart contracts, ensuring transparency and eliminating the need for intermediaries.
Main Features:
- Multiple Collateral Options: Users can deposit RBTC, BPRO, or DOC as collateral to access loans.
- Flexible Borrowing: Borrowers can choose between two stablecoins (DOC and USDRIF), providing options to meet different financial needs. Additionally, they have full control over their loans, deciding when to end them and whether to make partial or full repayments.
- Decentralized and Transparent: All transactions are managed via Rootstock smart contracts, ensuring trustless interactions.
- Inflation-Resistant Savings: Earn variable interest rates on stablecoins, providing a secure alternative to traditional savings, and an option to scape from inflation and devaluation of the local currencies
How Tropykus adds value to the Rootstock ecosystem:
Tropykus strengthens the Rootstock ecosystem by driving adoption of RBTC, BPRO, DOC and USDRIF in practical financial use cases. By offering secure and accessible savings and borrowing options, Tropykus supports Rootstock’s mission to expand Bitcoin-based decentralized finance globally.
Synergies with Other Projects on Rootstock:
Tropykus closely integrates with Money On Chain, utilizing DOC and BPRO to create seamless financial solutions. Additionally, it leverages other Rootstock-based tools such as USDRIF from RIF On Chain, and Sovryn’s FastBTC relay and swaps. These collaborations amplify the utility of Rootstock-based assets and provide users with a comprehensive suite of decentralized financial services. Tropykus also contributes to educational initiatives within the ecosystem, helping onboard new users and promoting financial literacy in emerging markets.
Mission: Our mission is to democratize financial services and enable economic empowerment through accessible and secure decentralized finance tools. By focusing on Latin America, we aim to solve financial exclusion and promote savings and capital accessibility for individuals underserved by traditional banking.
General traction:
- Tropykus has been in maintained for 2 years and 9 months
- TVL: USD $6.46M. Source: [https://defillama.com/protocol/tropykus-rsk
- ](https://defillama.com/protocol/tropykus-rsk)Historical deposits: USD $7.75M
- Historical loans: USD $2.97 M
- Protocol users: 3.300
- Telegram: 1.500 participants
- Twitter: 8.250 followers
Conclusion: We bring tangible value to the ecosystem by addressing real-world financial challenges in emerging markets. Our focus on security, accessibility, and empowering underbanked populations aligns directly with the mission of Rootstock and the broader Bitcoin community. By supporting Tropykus, you are supporting financial inclusion and the expansion of Bitcoin-powered DeFi solutions.
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