Remark

A more detailed description including answers to all this questions is found on our GitHub read me page. https://github.com/hileamlakB/Swip3 as well as our pitch deck attached below.

Inspiration

E-commerce microtransactions of goods and services are moving onto Web3. Many functions of web2 finance are replicated to keep up with this demand. We believe this demand for web3 dapps not limited to but including nft market places and games is only going to increase as public transaarent backends became the norm. And when this happens there will be the need for a web3 equivalent of credit cards (per payment loans). Banks and loaning instituations have been built in recent years, and we want to capitalize on that knowledge to move the Defi space forward.

Currently buyers pay for everything out of pocket by connecting their wallets directly to DApps, essentially paying for everything using your Web3 debit card. Security, leverage, and convenience can lower the activation energy for crypto payment transactions, ushering in greater adoption in the web3 space.

What it does

We introduce Swip3, your web3 credit card, providing per-payment loans in the palm of your hands. With our extension and developer API, users can easily leverage crypto and pay directly on DApps with their Swip3 cards.

How we built it

We have an extension that will provide payment API for Dapps. And users can create credit contracts through it.

Challenges we ran into

Debugging contracts
Extension documentation ( Couldn't make it multi browser compatible)

Accomplishments that we're proud of

We learned a lot about DeFi
We made an extension
We made smart contracts, and we were able to apply theories in networking and system design like load balancing in blockchain.

What we learned

Extension development
Remix debugging and testing
And for some of us this was a first introduction to web 3

What's next for Swip3

Our vision is for a highly scalable payments network. We are hoping to become the pay-payment credit standard for Users, DApps, and Lending Pools. We are hoping to partner with lending pools to add new lines of credit established by external lending pools like AAVE and Compound. Additionally, we are planning to build a user beta in the next month. We will also be building in house credit scoring and trying to move to uncollateralized lending. Most importantly, we are planning to partner with DApps to inegrate our credit payments option driving more adoption to the crypto payments space!