Domo.Finance

Earn interest, borrow local stablecoins, and unlock decentralised finance.

[Domo.Finance @Domo_Fi]

@divine_economy what about apps focussed on supporting growth of non-USD stablecoins to enable those in emerging markets to access the wonders of DeFi?

[Domo.Finance @Domo_Fi]

Stay updated and secure with our journey. Follow our official channels for accurate and trustworthy information. Together, we're building a future where financial independence is within everyone's reach. 🔐📢 #DomoSecurity

[Domo.Finance @Domo_Fi]

🚀 Excited to unveil #Domo's strategic roadmap, driving financial innovation for the 1.4 billion unbanked. Our journey towards empowering financial freedom with blockchain and non-USD stablecoins starts now! 🌍 #DeFiRevolution #bankingtheunbanked
https://t.co/pESljPMvFA

[Domo.Finance @Domo_Fi]

Join us on this groundbreaking journey. Your support and participation fuel our vision for a financially inclusive world. Let's make #DeFi accessible to billions. 💪🌎 #JoinDomo

[Domo.Finance @Domo_Fi]

@njokuScript Pls check out what we are building at @Domo_Fi! We aim to drive mass adoption of crypto with a focus on emerging markets by allowing users to save in crypto and borrow EM stable coins - all onchain! Would be great to connect. The DMs are open

[Domo.Finance @Domo_Fi]

@safetyth1rd pls check out what we are building at @Domo_Fi! part of what we are building is infrastructure to foster onchain liquidity for new stablecoin issuers by providing a two-sided marketplace driving network effects for stablecoin issuers, and users. DMs open

[Domo.Finance @Domo_Fi]

@sxtvik Awesome, thanks dude! Just sent you a DM

[satvik @sxtvik]

Roughly 1.4 Billion people in the world are unbanked. While traditional financial institutions often write them off as the underground economy, to me they represent a significant opportunity for inclusion, adoption, and prosperity.

The “unbanked” are really the creators, builders, gamers, traders of tomorrow if we support them wholeheartedly today, and this starts with facilitating inclusion across the board. It’s about including people in conversations that they might not have previously had access to.

In Web3, protocols as an example have historically partnered/supported more large scale platforms and products like perps/lending/prediction markets/socialfi/exchanges, and largely left out cultural builders, DAOs, creator tools, or even fun niche apps designed for small scale use cases and virality. By being inclusive and supportive of these “fringe cases,” you’ll open up a whole new avenue of user acquisition and foster more important positive signal and good will in a community that previously felt left out, thereby reinforcing a positive loop of growth and development.

Coming back to the unbanked population specifically — there’s a growing movement around the world of going cashless, and my opinion has always been that cashless economies are exclusionary by default until we can onramp the unbanked to digital payment mechanisms. The most common reasons people choose not onramp are:
1. Don’t have sufficient cash
2. Distrust of banks/tradfi
3. Literacy barriers
4. High fees and no transparency
5. No ID for KYC
6. Lack of local infra
7. Desire for privacy

While Web3 solves a lot of these challenges in theory, the burden of onramping still presents similar challenges through highly scrutinized KYC that all centralized parties require. While there have been models made to circumvent this similar to mPesa in Africa that was able to utilize cash onramps to digital money, ultimately these models are not scalable in their current form and many would be deemed downright illegal in most jurisdictions.

I think the objective should also be to move away from a largely western-centric approach that represents a small fraction of the unbanked and instead pay attention to the top 5 developing countries that together form a majority. Currently ETH gas fees per txn that we spend can amount to someone’s monthly earnings. Let’s take a moment to digest that. Still, rate of adoption, appetite for new technology, and desire for new solutions that free them from the confines of exploitative practices is at an all time high in these regions.

I believe the solution to supporting the unbanked resides within Web3 - we have the infrastructure to solve the challenges but don’t have the front end yet. It’s a question for the best builders of the space - how do we emulate cash vouchers, money orders, micro loans, preloaded wallets, and use this to digitize the world?

Some important shout outs:
- @jecastillof building @Kontigolatam
- @stefdelev with @oasisonchain
- @thisispaff growing @takeupspacehq
- @filipviz with @juiceboxETH
- @tweetsofandre and team via @safe
- @zksync and their ID solution for Argentina (gg @Ozhar and team)
- @TarunMangukiya with @koshmoney
And many many more builders in this space, many of whom I’m forgetting right now.

Also, shoutout to @benroy__ @emjoellejohnson @parkerjayp who’s insightful conversation on spaces inspired me tremendously.

Let’s bring the world onchain, all of the world.

[Domo.Finance @Domo_Fi]

@zhusu hey @zhusu are you interested in investing in a protocol that wants to change the world? could make for the ultimate redemption arc 🌈🪙. let's slide deep into the dms bro!

[Domo.Finance @Domo_Fi]

@bisasolo We are building infrastructure to help stablecoin issuers grow onchain liquidity by providing a fundamental component of any thriving onchain ecosystem - the ability to supply and borrow. Our focus is on non-USD stablecoins.

[Domo.Finance @Domo_Fi]

@WAGMIcapital $OHM was great. But let's be honest it epitomized crypto 2021 - ponzinomics, & circle jerking hype cycles (i.e. coordinated OHM marketing campaigns). Crypto should mature beyond this and have IRL impact. See what we are building at Domo.

[Domo.Finance @Domo_Fi]

@WAGMIcapital

[Domo.Finance @Domo_Fi]

We just applied for the Buffitank Pitchfest with Bufficorn Ventures at ETHDenver 24 @BufficornV @ethereumdenver @ethdenver

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https://t.co/b4SpWAbNcO

[Domo.Finance @Domo_Fi]

@matchaxyz @0xProject @willwarren @Ledger @P3b7_ @EthereumDenver Account abstraction for the win! Can't wait to hear the talk!