The problem Aboki Loans solves

In many African countries, inflation, currency devaluation, and limited access to traditional banking services make it difficult for individuals to preserve wealth, access affordable credit, or participate in global financial systems. As a result, people are often forced to liquidate valuable crypto assets in times of need, missing out on long-term opportunities and rewards.

aboki.eth, now focused on the Base network, addresses this challenge by enabling users to stake their cryptocurrency and stablecoins to access fiat loans, rather than selling off assets. This model helps users retain their exposure to crypto, earn staking rewards, and stay financially active—keeping them in the game longer.

Built for Africans by Africans, aboki.eth empowers users with tools to:

Preserve and grow their digital wealth

Access real-world liquidity without asset liquidation

Earn incentives for both borrowing and lending

Leverage decentralized finance for local impact

By providing asset-backed fiat loans through a stable, low-cost Layer 2 like Base, aboki.eth is creating a sustainable, trust-driven financial pathway that aligns with the realities and aspirations of communities across Africa.

Challenges I ran into

One of the first major challenges was assembling a capable technical team to build aboki.eth end-to-end. It took time and effort to find the right collaborators, but I’m grateful to have brought together an amazing team:

Myself, serving as the loan operator and project lead

Kingsley, a talented frontend engineer

Godwin, an experienced smart contract developer

Ezinne, a skilled UI/UX designer

Their dedication has been instrumental in pushing this project forward.

Another significant challenge was raising initial capital, both in stablecoins and fiat, to back the loans we intended to provide on Base. Without external funding, we overcame this by pooling resources from our own pockets, raising over ₦1,000,000 NGN (~$625) to kickstart lending through the dApp.

On the technical side, we faced a few roadblocks while deploying on Base and ensuring multi-network compatibility. However, we were able to move past these issues with guidance from local DevRel contacts and support from friends who had previously built on Base.

These challenges strengthened our team, deepened our understanding of the ecosystem, and reinforced our commitment to building a tool that truly serves our community.