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Takaturn Phase 2 - Plug In feature upgrade - Yield Generation and UI Feature Enhancements
بسم الله الرحمن الرحيم
Our mission is to empower communities with trustless and transparent Web3 alternatives to banks and insurance companies, promoting financial freedom for all. We do this through innovations that are reliable, inclusive and affordable.
We envision a world where communities work together to uplift everyone financially and socially, and trust is no longer outsourced to institutions that cause financial instability.
Takadao is igniting a movement against the broken financial system. A movement driven by mutual consent and agreement, democratically. Where stakeholders are decision makers.
The concept of cooperative loans is being practiced today in many countries globally. It is known as “Gamaeyah” in Egypt, “Chit Fund” in India, “Tontines” in Cameroon, “Ballot Committee” in Pakistan, “Paluwagan” in Philippines, “Money Circles”, “Rotating Savings & Credit Associations” (ROSCA) and other names by practitioners.
Let’s take an example of a group of 10 people. Each person agrees to pay $100 for 10 months into a collective fund. In month 1, person 1 gets the full amount paid that month equal to $1,000. In month 2, person 2 gets the full $1,000 paid that month; this goes on until everyone gets $1,000 once in the 10-month period and everyone has paid a total of $1,000.
The same can be done with 6 people for 6 months, or 20 people for 20 weeks; and the amounts can vary according to the needs of the participants. The order of beneficiaries is determined on a first come, first served basis.