In the innovation process we have carried out, we have met different areas of knowledge which have a relevant importance and interest in society. Within these, the world of cryptocurrencies and decentralized finance knocks on our doors . And this… is how Wiinco was born, a project that sought to innovate, developing new experiences for the team in Marketing and Product Development in crypto, just, what we were looking for!
What is Wiinco?
Wiinco is a decentralized application (dapp) for no-loss betting with cryptocurrencies, which operates on the polygon network. This allows users to make deposits in USDT, these deposits are transferred to a decentralized finance platform, where interest is generated.
Once the interests are generated, the majority of them are raffled weekly through a smart contract.
In addition, part of these generated interests are automatically donated to supported social organizations.This project has been developed thanks to PoolTogether's open-source protocol, which was essential for building Wiinco.
What is really interesting is that a percentage of the accumulated prize is distributed to a linked charity, sending the funds directly to the address of the donation wallet of said organization. We are currently allied with the Tunapanda NGO, which is a non-profit social enterprise that runs intensive 3-month technology, design, and business training courses in extreme low-income environments of East Africa such as Kibera (Nairobi informal settlement).
Their mission is to create environments and experiences that train lifelong learners, earners, and problem-solvers. (https://tunapanda.org/)
Welpy allows you to save, have the chance to win prizes and help at the same time. Remember in each draw you are contributing to a social cause, whether you win or not, since a percentage of the interest generated will always go to an NGO.
In this way Wiinco was born under the conception of having opportunities to win, save and help.
How does Wiinco work?
Through the dapp, people deposit cryptocurrencies (USDT) in one or more groups of their interest.
Pool funds are automatically invested in DeFi lending protocols that earn interest on deposits, in our case we are connected to Aave. The interest generated on this platform is accumulated weekly, which is later divided as follows:
A percentage of the prize pool is distributed to the linked charity, sending the funds directly to the organization's donation wallet.
Another percentage is retained for Codescrum to continue the operations of the project.
The remainder of the prize is awarded to the winner.
Best of all, once the weekly drawing is done, you can withdraw your deposit!
How is the winner of the interest draw chosen?
Weekly the percentage of the interests that are part of the prize, are randomly raffled among all the people who deposited the cryptocurrencies. In this way, just by depositing you already find yourself being part of the possible winners
What benefits are perceived in Wiinco?
The most interesting thing about this project is that there are possibilities of great prizes without risking your money to participate. The traditional operation of a draw is that you bet but if you lose, your money is also lost.
Another attribute of great importance and what is really important is that always, a part of the interest generated with the deposits is donated to a non-profit foundation. What does this mean? Win or not you will be contributing to a good cause.
Finally, an aspect of great importance is the power of blockchain technology to make this type of initiative possible.Through smart contracts, cryptocurrencies and decentralized finance, these projects are generated, which seek to break with the traditional system and provide benefits never seen before to the users.
Last thoughts…
Undertaking the path of projects in Blockchain technology will always be a challenge, but in one way or another you have to take the first step. In this case, we saw the opportunity to use the PoolTogether open source to make our own pool with differentiating attributes, which in turn would bring a contribution to society.
We continue in this process of developing products based on this technology, and we have no doubt that this will be the future.
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Codescrum is a team of talented people who enjoy building software that makes the unthinkable possible.
We want to work for a better world that we can help create by making software that delivers impact beyond expectations.
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