JollofSwap

Mobile-first DeFi for everyone! Literally the mission for the intuitive is one of the biggest inspirations for the Jollofswap product. MoFi and the technology around the ecosystem is a big driver also. To assist the mission to make DeFi accessible to the 6 billion mobile phone users around the world is hardcoded in the Jollofswap product. Using USSD technology and opening up the tools available to swap Celo based tokens from the possiablility of a cell phone that's not smart also can give access to users to DeFi tools that never could access the digital access ecosystem before. All a user will need now is a cell phone number and the ability to dial a USSD shortcode and will be able to swap tokens.

Our smart contracts for swapping also leads into the product suite to give Subsaharan Africas access to Liquidity Pools and swap cUSD to USDC.

Jollof, or jollof rice, is a rice dish from West Africa. The dish is typically made with long-grain rice, tomatoes, onions, spices, vegetables and meat in a single pot, although its ingredients and preparation methods vary across different regions. We connected with his popular dish as the ingredients we see are the different types of blockchains and DeFi products out there with a common connection. As a popular dish in Nigeria there are different variations with other African countries and creates a perfect brand awareness for the product to integrate with other geographical areas.

From GSMA: By the end of 2020, 495 million people subscribed to mobile services in Sub-Saharan Africa, representing 46% of the region’s population – an increase of almost 20 million on 2019. With more than 40% of the region’s population under the age of 15, young consumers owning a mobile phone for the first time will remain the primary source of growth for the foreseeable future.

Building technology around mobile subscriptions in the continent of Africa and having the mission of providing access to the average sub-saharan to interact with DeFi Functionalities is a core inspiration of this project.

Unstructured Supplementary Service Data (USSD) uses shortcodes to communicate across different mobile networks popularly utilized by different GSM cellular phones. Jollofswap uses USSD to give the ability for end uses(Canza users) to swap there tokens from Celo to cUSD and Celo to UBE. By selecting the option of Swap celo wallets can swap there tokens without having a smart phone this in turn gives users access to DeFi functionality without the need of a smart phone.

As a product from Canza Finance we utilized internal APIs to help with the USSD functionality and Celo Wallet infrastructure. In regards to our Swapping Functionality we forked Ubeswap for assistance with testing the Celo to cUSD and Celo to UBE smart contract conversions. While using Uniswap docs we used the swapExactTokensForTokens function and utilized UbeswapMoolaRouter, UbeswapRouter and Uniswap Router v2 for testing ETH to ERC20 tokens conversions.

As for the month long product development of Jollofswap we ran into multiple challenges. Some of the challenges are detailed below:

Intergrating Ubeswap sdk

configuring the sdk to work with the ussd apllication is quite hard since there is no such application that is available

understanding Ubeswap and how it works was hard at the start since there where multple routers inovled to make the swapping functionality work.

we encontered mutiple errors like a. invalid BigNumber value b. Unable To Approve Transaction on the ussd platoform was a big challenge unlike the normal way used in defi paltforms.

We as a team are definaltly proud of the work we have done so far pertaining to Celo, Feature phones , USSD and Decentralized Finance.

We are proud of our Web 3 development and overcoming multiple errors from the contact routers to allow swapping functionality.

We are proud a to have the mvp and test contract functionality to give the ability to Canza Finance users to swap Celo based assets all from a feature phone.

Very proud of the skills developed and learned from interoperability standpoint. Connecting and understanding Uniswap ecosystem, Ubeswap ecosystem and Celo blockchain ecosystem more in-depth technically.

What we learned is that Canza Finance identfifes completely with Celo mission that makes financial dApps and crypto payments accessible to anyone with a mobile phone. Building with MoFi Technology is the way for the next decade of Web 3 and DeFi for Sub Saharan Africans.

Jollofswap ecosystem has a bright future! We plan on :

Finish of testing and conversion technology to move the product to a production phase.

Integrate product fully within the Canza Finance ecosystem and provide users with options of Defi Functionality.

Finish off the Jollowswap cUSD/CELO technology and launch website fully to public.

Create Canza Celo token and integrate it with Jollofswap

Market product to African market to assist user growth.

Use Canza Finance/CCF Education Grant to assist with Celo Ecosystem development and onboard African focused developers to grow a development community behind Jollofswap

Work with Celo ecosystem to connect USSD tech with Moola for Yield Generation and Poof Cash for zk technology innovation

Work with Canza Blockchain Partners and Flori Founders for innovation/integration and Partnerships

Keep building on Celo and create interoperability bridges to other blockchains to assist the Celoverse

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