ethereum based chit funds application
- Signup
- Create Pool (Pool period will be same as pool size. i.e if pool has 12 members, pool period will be 12 months.)
- Invite Members to signup and join pool
- Approve Join Requests
- Monitor Member Activity of their monthly payments and inform them if payment delayed.
- End Pool if period is over and all installements are settled (All Pool members should submit requests to end pool)
- Signup
- Join Pool (Once, Pool Manager approves, you will be part of pool)
- Pay monthly Amount
- Draw chits (Once for every member on every month - Flash Model. i.e first come first serve basis. (Planning to implement lucky draw model in future))
- Submit Pool End request if pool period is over and all payments to all members are settled.
- Activity Monitoring. i.e payment info and winners, available amount e.t.c..
Implemented based on traditional models
- Must be registered first on platform.
- Only owner of the pool can approve join requests of pool member.
- joining member must be registered on the platform
- Member must not be part of the pool already.
- Slots must be available to join new members (i.e some empty slots)
- Pool must be existed on platform and isn't ended
- Only owner of the pool can end pool.
- All members must submit requests to end the pool.
- Pool must not be ended already.
- Member must not be part of the pool already
- Member must be registered on platform
- Pool must be existed and not ended.
- Pool Slots must be available to join new members.
- Member must be part of the pool.
- Pool must be existed and not ended.
- Member must not drawn chits already in previous monts.
- All Members should be paid payments for the month.
- Anyone can view pool info.
- Only joined member of pool or owner can see pool status.
- Only owner of the pool can see pool status.