Stellar Community Fund

By JoonaPay

B2B Treasury and Payments Infrastructure

SCF #41

$90.0K

Build

Awarded

Products & Services

JoonaPay is a B2B payments platform operating in Cote d'Ivoire with 6 live pilot customers and approximately $45K processed to date. We currently handle payment collection, disbursement, and reconciliation for small and medium businesses. Settlement today happens off-chain through traditional banking rails.

This project adds Stellar as JoonaPay's settlement infrastructure. We will build three things:

1. Stellar-Settled B2B Payments

Business customers initiate CFA franc payments. Funds convert to USDC on Stellar via SEP-24 (interactive deposit/withdrawal) and SEP-6 (programmatic API for pre-KYC'd B2B clients), settle in seconds, and convert back to CFA franc at destination via Afrika Banque. This replaces 3-5 day SWIFT/correspondent banking settlement with near-instant finality. Impact: reduces payment processing time from days to minutes for UEMOA businesses.

2. B2B Treasury Yield on Idle Balances

Business accounts hold idle USDC between payment cycles. These balances are deployed into DeFindex Vaults (PaltaLabs), which automatically allocate to Blend Protocol (Script3) lending pools on Stellar via a production-ready Blend Strategy. DeFindex serves as the primary integration path, providing vault abstraction with auto-compounding yield. Direct Blend pool access is retained as a secondary path for automated reserve management and emergency withdrawals. Impact: businesses earn yield on working capital that currently sits at 0% in traditional bank accounts.

3. Multi-Currency Settlement Dashboard

Unified interface for businesses to manage CFA franc, USDC, and EUR/USD positions. All settlement happens on Stellar. Real-time transaction tracking via Stellar RPC. Impact: replaces fragmented banking portals with a single treasury view anchored to Stellar.

4. BCEAO PI-SPI Integration (Future Phase)

Last-mile CFA franc delivery via the Central Bank's instant payment system (PI-SPI) is architecturally planned for a future phase, pending Afrika Banque's sponsorship timeline for PI-SPI program access. The current architecture connects Stellar settlement to Afrika Banque's existing banking rails (bank transfer and mobile money) for CFA franc delivery, and is designed to support PI-SPI integration without structural changes once available.

Requested Budget

$90.0K

Traction Evidence

- 6 live pilot customers processing payments in Cote d'Ivoire

- Approximately $45,000 in total payment volume processed

- $250M+ in waitlisted demand from prospective customers via signed LOIs

- Regional bank signed as sponsor bank for BCEAO licensing

- US C-Corp incorporated + Cote d'Ivoire SARL
- Stellar testnet prototype deployed by CTO: omnibus wallet with USDC trustline, Circle USDC minting, user deposits, batch settlement, and withdrawals all verified on-chain.

Omnibus account: https://stellar.expert/explorer/testnet/account/GB53TDVUUUWEHWFXET4AXESQFMLWZCVJO6XV4WK4BDAH4YATYV7BUXH6

7 testnet transactions:
https://stellar.expert/explorer/testnet/tx/8b5ffd5c (batch settlement), https://stellar.expert/explorer/testnet/tx/dfc21a73 (Circle USDC mint), https://stellar.expert/explorer/testnet/tx/9a3412b3 (trustline setup), and 4 additional deposit/withdrawal transactions linked in the Technical Architecture Document (Section 9.2).

Evidences of payments processed:
Etherscan: https://etherscan.io/tx/0x107533a656507af229b95ff7bd29807e2c523ffed3d6f1475304051ace54ddfb
Receipt: https://drive.google.com/file/d/1xnpXgH9R_FjO9u8gNtM5wM9pm03sUkZg/view?usp=drive_link

Two Engineers working full-time:
Augustin A — Backend Engineer (github.com/Akpagni5547)

Wilfried H — Frontend Engineer (github.com/Willer258)

Tranche 1 (Deliverable Roadmap) - MVP

Deliverable 1.1: Stellar Anchor Infrastructure on Testnet (SEP-1/10/24)

Description: Deploy JoonaPay's XOF anchor on Stellar testnet using Django Polaris. Implement SEP-1
(stellar.toml discovery), SEP-10 (web authentication), and SEP-24 (interactive deposit/withdrawal for CFA franc to USDC conversion with mock fiat rails). Connect to Circle USDC testnet issuer.

Measurement: Working testnet demo with documented API calls. SEP-1/10/24 flows completing end-to-end on testnet. Video walkthrough submitted.

Budget: $10,000

**Deliverable 1.2: Blend/DeFindex Testnet Integration for Treasury Yield
**

Description: Deploy DeFindex Vault on testnet configured with Blend USDC strategy. Connect business account idle USDC balances to Blend lending pools via DeFindex as the primary path. Build deposit/withdrawal logic and yield tracking. Implement Celery task for rate monitoring.

Measurement: Testnet transactions showing USDC deposits into DeFindex Vault (routed to Blend pools), yield accrual visible, withdrawal back to business account functional.

Budget: $8,000

Tranche 2 (Deliverable Roadmap) - Testnet

**Deliverable 2.1: Business Dashboard and Treasury Management UI
**

Description: Build NextJS business dashboard with: deposit/withdrawal UI (SEP-24 interactive flow), transaction history, treasury management panel (DeFindex vault allocation controls, Blend yield display, position monitoring). Implement SEP-6 programmatic API for pre-KYC'd B2B clients. Integrate Flow Designer for automated treasury allocation rules.

Measurement: Dashboard functional on testnet. Treasury yield controls operational. SEP-6 API documented and tested.

Budget: $12,000

**Deliverable 2.2: End-to-End Testnet Flow + Direct Blend Fallback
**

Description: Complete end-to-end testnet flow: XOF deposit (mock) to USDC on Stellar to DeFindex/Blend supply to yield accrual to withdrawal to XOF payout (mock). Implement direct Blend pool integration as secondary path for reserve threshold automation (auto-withdraw when liquid USDC drops below 120% of pending settlements).

Measurement: Full payment-to-yield-to-settlement cycle demonstrated on testnet. Reserve automation tested. Documentation of both DeFindex (primary) and direct Blend (fallback) paths.

Budget: $15,000

Tranche 3 (Deliverable Roadmap) - Mainnet

Deliverable 3.1: Stellar Mainnet Launch + Afrika Banque Live Integration

Description: Migrate all integrations (SEP-1/10/24/6, DeFindex, Blend, treasury automation) from testnet to Stellar mainnet. Deploy production Soroban contracts for treasury yield distribution. Integrate Afrika Banque live API (production webhooks, real XOF settlement). Set up multi-sig for treasury operations. Complete internal QA.

Measurement: Live mainnet transactions. At least 3 pilot customers completing real CFA franc to USDC to CFA franc payment cycles on mainnet. Mainnet contract addresses published. Afrika Banque settlement operational.

Budget: $20,000

**Deliverable 3.2: Production Dashboard, Documentation, and Pilot Onboarding
**

Description: Ship production-ready dashboard with: payment initiation, treasury yield view (DeFindex/Blend positions), transaction history (Stellar RPC), multi-currency balance management. Production monitoring, alerting, and logging. Onboard remaining pilot customers. Publish API documentation and operational runbooks.

Measurement: All 6 pilot customers active on mainnet. Dashboard live at backoffice.joonapay.com. User documentation and API docs published. Monthly transaction volume target: $50K+ within 30 days of launch.

Budget: $16,000

Team

3 co-founders + 2 engineers (5 total).

Lova Diakite (CEO) - Systems engineer, former crypto trader. Previously co-founded Hemisphere ($120K revenue in 6 months). (http://linkedin.com/in/lovadiakite)

Ben Ouattara (CTO) - Fintech architect. Led engineering at a West African fintech handling $400M+ in transactions. Expert in payments, remittances, ledger systems. (http://linkedin.com/in/benouattara)

Djouba Sidibe (CMO) - Marketing and CX expert. Built Kavleen's (French fintech) brand from ideation to launch. (http://linkedin.com/in/djoubasidibe)

Plus 2 senior developers including a tech lead.