About Passpot
Saving together shouldn't depend on trusting one person.
Savings circles are one of the oldest ways ordinary people get a lump sum without a bank or a loan. In Pakistan it's a committee, in Ghana a susu, in Mexico a tanda, in Kenya a chama. Millions of families use them to pay for weddings, school fees, a shop's stock or a motorbike.
They share the same weak spots: the money sits with the organizer, and the record is a notebook. When the organizer disappears or a member stops paying, the circle collapses, which is why so many circles never grow beyond close family.
The money
sits in the circle's own vault, not in anyone's pocket. Only the circle's rules can move it, not the organizer.
The turns
are decided by an on-chain draw, the agreed order or a bid. Anyone can check every result.
The trust
is earned. Every payment builds an on-chain savings record, and a good record means less held back.
Why it runs on NEAR
- Fees too small to notice
- A circle pays in every month for a year. On NEAR each payment costs a fraction of a cent, so the fees never eat into a 50-dollar contribution.
- Names people can read
- Accounts can have names like ayesha.near instead of a long string of characters, so you can see at a glance who is in your circle.
- A vault per circle
- Each circle gets its own Sputnik DAO, a well-tested NEAR contract for holding shared money. Passpot's rules are its only council member.
- Profiles that travel
- Profiles live on NEAR Social and savings records in the Passpot contract, so any NEAR app can read them. Your record isn't locked inside Passpot.
Where it goes next
- 01
Private circles
People ask to join, and the organizer approves them by their profile and on-chain savings record.
- 02
Swap turns
Two members of an agreed-order circle trade payout rounds when both say yes.
- 03
Pay ahead
Cover two or three rounds in advance, for irregular incomes and time away.
- 04
Pay from anywhere
Family abroad pays a member's share directly, from any chain, through NEAR Intents.
- 05
Real dollars
The same contract on NEAR mainnet with USDC, once it has been audited.
- 06
Urdu and Arabic
The interface and WhatsApp reminders in the languages most circles are run in.
What it doesn't do yet
- It runs on NEAR testnet with test dollars that have no value. Real money comes after an audit.
- Holdback and deposits cover missed payments, but a member who already had the pot and walks away can still leave a gap bigger than what was held back.
- Anyone with an invite link can take a seat, until private circles arrive.