Ritual

Lock capital. Pool monthly. Bid for access. Earn yield waiting.
No trust, no governance, no loss. #CoordFi

[Ritual @RitualFi]

Chit funds have existed for 700 years.

They move $500B+ globally every year. They're used by 95% of adults in parts of Africa. India alone has 15,000 registered chit fund companies.

They've never been put on-chain.

I'm building the first one. Here's how it works 🧵

[Ritual @RitualFi]

Ritual is:
��� Credit for people who need capital now
→ Yield for people who can wait
→ No liquidation risk
→ No token
→ No governance
→ Non-custodial

I call this #CoordFi - Coordination Finance.
Not lending. Not saving. Coordinating.

#BIP. Follow @RitualFi for the journey.

[Ritual @RitualFi]

Chit funds have existed for 700 years.

They move $500B+ globally every year. They're used by 95% of adults in parts of Africa. India alone has 15,000 registered chit fund companies.

They've never been put on-chain.

I'm building the first one. Here's how it works 🧵

[Ritual @RitualFi]

Ritual fixes this with one idea: bonded capital.

Before joining, every member locks a Seed Bond.

Take the pot and disappear? Your entire bond is forfeited. Covers every missed payment. Exactly.

Play fair? Bond comes back at the end. Untouched. Reusable for the next pool.

[Ritual @RitualFi]

The DeFi lending model:
→ Lock $750 in ETH
→ Borrow $600 USDC
→ ETH drops 20%
→ Liquidated. Funds gone.

There has to be a better way to access capital without risking liquidation.

What if your collateral was stablecoins - and you got it all back at the end?

[Ritual @RitualFi]

80% of stablecoins earn zero yield. Tether made $6B last year from YOUR money sitting in their reserves. Circle made $1.7B. You got $0.

That's $240B+ in idle digital dollars earning nothing for the people who hold them.

I'm building something about this. More soon.

[Ritual @RitualFi]

Who's ready for #CoordFi

[Ritual @RitualFi]

New meta: #CoordFi

[Ritual @RitualFi]

⚒️

[Ritual @RitualFi]

Sometimes it’s best tweeting to zero followers

[Ritual @RitualFi]

Speculation built the casino.
Coordination builds the system.

[Ritual @RitualFi]

@physiowizzy529 Rightly said 🫡

[Ritual @RitualFi]

The next phase of Web3 will reward coordination, not speculation ⚒️

[Ritual @RitualFi]

@ChequerCat666 This isn't loan

More info will be out soon 😉

[Ritual @RitualFi]

Who is working on making #DeFi fun while utility heavy at the same time?

[Ritual @RitualFi]

@physiowizzy529 Stay tuned !

[Ritual @RitualFi]

@web3jayth More details soon ⌛️

[Ritual @RitualFi]

New meta: #CoordFi

[Ritual @RitualFi]

@Joshy_159 More details soon ⌛️