Stellar Community Fund

By Tracee

Tracee

SCF #16

$128.9K

Legacy v4.0 Award

Awarded

A user-friendly payment solution to help NGOs disburse aid instantly, safely & transparently to the underserved in the MENA region

Products & Services

It's time to pay back to our communities. Tracee promotes financial inclusion in MENA and empowers humanitarian organizations and businesses through innovative and user-friendly cross-border payment solutions. Tracee fulfills the day-to-day needs of organizations and individuals in a region with high potential, but lacking serious and efficient payment solutions (34% of 500 million owns credit/debit cards).

How? Smart wallet: To create a seamless UI/UX, Tracee removes the need for private keys and seed phrases while still enabling users to maintain custody of their funds. With just a phone number, millions of users can access a digital wallet. To achieve this, we use SEP30, a user-friendly key management protocol (link here).

Bulk payments & Stellar Aid Assist (SAA): Aid delivery and bulk payments can be costly and very slow for NGOs, especially during emergencies. Last-mile cash-aid delivery poses safety risks for transporters and collectors and is susceptible to fraud. NGO operators and recipients often lack knowledge of operating in the web3 space. Solution: We provide a user-friendly interface to easily on-board thousands of NGOs and millions of recipients (individuals in need & employees). We scale SAA to allow orgs to send bulk payments and recipients to withdraw cash at any MoneyGram location.

Payment streams using Soroban: Tracee simplifies the process of recurrent bulk payments and payrolls for NGOs by deploying Soroban to automate the process. This involves setting payment conditions, such as multi-sig and recurrence intervals, then the payment is executed by smart contracts in accordance with the conditions. Check out in product viz the detailed sequence diagrams.

Smart contract escrow-service using Soroban: Tracee uses Soroban as an escrow service to hold funds for service payments. The sender fills the provider & the service details as well as payment terms, which are confirmed by the provider. Smart contracts hold the funds and release them based on the agreed terms. See the sequence of events in product viz.

On-ramp / Off-ramp solutions: SEP06 is used for deposit and withdrawal API/SDK, without leaving the app. Tempo is considered for credit cards and SEPA transfers. SEP24 is employed for hosted deposit & withdrawal with MoneyGram.

Stellar network: We use Horizon SDK to connect with Stellar network as well as several SEPs: SEP-10 for authentication of users, SEP-12 for communicating user KYC information, SEP-30 for private key management, SEP-31 for processing cross-border payments.

UI/UX: Click here to test the prototype.

KYB: Partnering with tier-solution provider, mainly Sumsub.

KYC: It is made through via off-ramp partner.

The project architecture is illustrated below & describing the communication between the front-end, the back-end, Stellar & anchors. The use-cases of Soroban are considered upon the release it on the main net, more info about its implementation is in the "product viz below" and in "Additional info".