Coinvo

Coinvo

Redefining the way people connect, share, and transact in the Web3 Space

Coinvo

Coinvo

Redefining the way people connect, share, and transact in the Web3 Space

The problem Coinvo solves

Coinvo is a ground-breaking decentralized chat app with a strong focus on secure cryptocurrency payments. It provides real-time group chats, encourages community diversity, and simplifies digital transactions. By seamlessly merging traditional red envelope gifting with modern technology, Coinvo revolutionizes digital interactions and financial exchanges.

Redefining Gifting with Digital Red Envelopes:

Coinvo enables users to create and send digital red envelopes, preserving the tradition of gifting across borders. It empowers cross-cultural connections and ensures secure, transparent, and tamper-resistant transactions. A fair and transparent method for randomizing the distribution of red envelope rewards among recipients adds an element of surprise and fairness.

Seamlessly Integrating Cryptocurrency Payments with Router Protocol:

Coinvo simplifies daily financial transactions, enabling users to send and receive cryptocurrency directly within the app using the Router Protocol. This feature ensures secure, frictionless financial activities, supports cross-chain transactions across different Layer 2 (L2) Ethereum chains, and enhances overall transaction security.

Fostering Inclusive and Engaging Community through Group Chats:

Coinvo's group chat feature utilizes the Push Protocol for real-time engagement, creating a lively communication experience. It supports both gated and non-gated groups, offers a user-friendly interface, and serves as a community-building tool, fostering a sense of belonging and unity within the digital realm.

Challenges we ran into

  1. Testnet Fund Availability: Acquiring relevant testnet funds for emulating transactions proved difficult, as Matic from the Mumbai testnet was not a valid source through the Router Protocol API. Alternative solutions like https://texchange.routerprotocol.com/swap were employed to address this issue.

  2. Randomness Generation: Initially opting for Chainlink VRF V2 for randomness, complexities in implementation led to a shift to V1. However, further challenges arose with handling big numbers and resolving issues with the randomness function, which eventually led to the adoption of keccak256, block time, and owner address for generating random numbers.

  3. Frontend Integration with Push Protocol: Integrating the frontend with the Push Protocol posed initial challenges, requiring effort to ensure seamless communication.

Tracks Applied (3)

okto - Red Envelope Smart Contract Track

Using random numbers in solidity contracts to generate the red packet randomisation, prevents any type of fraud in the g...Read More

okto

Push Chat Conditional Gating Integration for DApps

A token-gated group chat where certain conditions are set for the users to access the live chat group. The live chat app...Read More

Push Protocol

Router Protocol Track

Using the asset transfer of router protocol, we can enable cross-chain payments in the live chat app. This is easier for...Read More

Router Protocol

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