FusionFund

DeFi and crowdfunding directly on Telegram: Easily raise funds, lend, or borrow with AI support, secure wallet integration, and privacy—no app downloads or wallet setup needed. All on NEAR blockchain!

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Inspiration

The inspiration for FusionFund came from recognizing the barriers that non-crypto users face when accessing financial services on the blockchain. We wanted to create a platform that simplifies the process of crowdfunding and loans while being accessible to everyone, regardless of their familiarity with cryptocurrency. The idea of combining decentralized finance (DeFi) with user-friendly features, like KYC and DAO governance, drove us to explore innovative solutions that could bridge the gap between traditional finance and blockchain technology.

What it does

FusionFund is a decentralized platform offering two main features:

  1. Crowdfunding: Users can easily set up campaigns, share their unique campaign codes, and receive funds without needing a standalone wallet. Chain abstraction is achieved through the in-app Bitte wallet, making blockchain interactions smooth and transparent.
  2. P2P Lending & Borrowing: FusionFund connects lenders and borrowers directly, facilitating secure and straightforward peer-to-peer lending with a smart contract enforcing terms and tracking repayments.
  3. AI Assistance for New Users: An integrated AI feature guides crypto newcomers, helping them learn the basics and navigate the platform with confidence.
  • DAO Governance: The platform incorporates a Decentralized Autonomous Organization (DAO) model, empowering users to participate in governance decisions, vote on proposals, and influence the platform's direction especially regarding campaigns of certain amount.
  • User-Friendly Onboarding: To facilitate easy access for non-crypto users, FusionFund employs the Bitte for transaction execution and integrates a ChatGPT personal assistant to answer questions and provide guidance throughout the user experience.
  • KYC Compliance: FusionFund implements KYC processes to enhance trust and security, ensuring that certain users under certain conditions are verified before engaging in crowdfunding or loan activities.
  • FusionFund also includes an AI assistant that guides users through the platform, ensuring even beginners can navigate with confidence.

How we built it

We built FusionFund on the NEAR blockchain to leverage its fast transaction speeds, low fees, and developer-friendly environment. The app uses Next.js for the frontend, connected to NEAR’s backend through smart contracts written in Rust. Our integration of the in-app Bitte wallet provides seamless chain abstraction, and the Telegram Mini App setup allows for easy user onboarding without app downloads.

These are several key steps involved:

  1. Technology Stack Selection: We chose NEAR for its scalability and user-friendly features, alongside leveraging technologies like Docker and Azure for deployment.

  2. Smart Contract Development: We developed and deployed smart contracts that manage campaign creation, DAO features, KYC and loan functionalities on the NEAR blockchain.

  3. Integrating User Features:

    • We initially planned to use FastAuth for user onboarding but faced some issues. To address this, we integrated Bitte Paymaster, which enhances transaction execution within our app.
    • The KYC feature was integrated to enhance trust and compliance.
    • The DAO structure was established to empower users in governance and decision-making.

  4. Telegram Mini App Development: Our app connects with the HERE Wallet via the Wallet Select SDK, allowing users to execute on-chain transactions directly within Telegram. This feature enhances user accessibility and engagement.

  5. Integration of AI: For the ZettaBlock bounty, we connected our platform to an AI system to offer features such as live blockchain news digests and on-chain fraud detection. This integration strengthens our project's utility and relevance in the evolving Web3 landscape.

  6. Deployment of Relayer: The relayer was deployed via Docker on an Azure VM to facilitate efficient transaction handling for users.

Challenges we ran into

  • Chain Abstraction: Integrating wallet-free interactions required careful management of the in-app Bitte wallet for secure transactions.
  • Managing Complexity: Balancing the features of a DAO and the complexities of smart contracts demanded a lot of planning and iteration to create a cohesive platform.
  • Technical Hurdles: Integrating various technologies, especially with FastAuth and KYC processes, required careful attention to detail and thorough testing to ensure security and reliability.
  • User-Friendly Design: Creating an intuitive interface while including powerful DeFi features presented design challenges.
  • AI Assistance: Developing the AI assistant to provide helpful guidance required thorough planning to meet user needs without overwhelming them.

Accomplishments that we're proud of

We’re proud to have created a fully decentralized funding and lending platform that removes technical barriers, making DeFi accessible to all. Our AI assistant, integrated chain abstraction, and the ability to fundraise or lend without needing a separate wallet make FusionFund a unique and empowering tool.

What we learned

Building FusionFund taught us the importance of user-focused design in the blockchain space. We learned how crucial it is to abstract away the complexity of blockchain while still delivering its value. Our work with NEAR’s smart contracts and the Bitte wallet helped us understand how to balance security, usability, and decentralization effectively.

What's next for FusionFund

We plan to expand FusionFund’s features by enhancing the AI assistant’s capabilities, enabling multi-chain asset support, and introducing more robust P2P lending options. Future updates will also focus on refining user experience, offering educational resources for DeFi beginners, and exploring cross-chain compatibility to increase platform accessibility.

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