The problem EquiChain solves

Dynamic Initial Public Offering (IPO) Allocations in Web3
Problem EquiChain Solves and Key Features
Traditional Initial Public Offering (IPO) allocation systems are manual, inefficient, and biased, often favouring institutional investors while sidelining retail participants. This lack of transparency and fairness discourages broader participation. EquiChain resolves these issues by offering a decentralized, transparent, and unbiased platform for IPO allocations, leveraging blockchain technology to ensure equal opportunities for all participants.
Key features of EquiChain include:
• Randomized Allocation: Utilizes Supra L1 DVRF to guarantee unbiased and secure random allocation of IPO shares.
• Data Security: Employs Lit Protocol for the encryption and decryption of critical files, including .txt, .json, and .pdf.
• Seamless Transactions: Processes payments securely through Coinbase for efficient financial operations.
• Simplified User Onboarding: Integrates Octa and CoinDCX for a user-friendly registration experience, especially for blockchain novices.
• Decentralized Storage: Ensures secure and scalable storage of IPO-related data using Akave

Challenges we ran into

Developing EquiChain presented several obstacles, including:
• Supra Whitelisting: The randomization feature required whitelisting from Supra, causing delays in implementation.
• Lit Protocol Dependency Conflicts: Version mismatches in Lit Protocol dependencies created complications during integration.
• Inter-Smart Contract Communication: Communication between smart contracts required creating a new cryptocurrency, adding complexity.
• Naming Inconsistencies: Differing function names between Supra and Aptos Move led to confusion and required additional alignment efforts.

Additional Features

Dynamic IPO Allocation:
Ensures fairness by using decentralized, verifiable random functions (DVRF) for allocating IPO shares.

Retail Investor Prioritization:
Balances allocation to ensure retail investors get fair access alongside institutions.

Transparent Processes:
End-to-end visibility into the IPO allocation process using blockchain, eliminating opacity and favoritism.

Multi-Currency Support:
Allows payments and investments in both fiat and cryptocurrencies.

User-Friendly Onboarding:
Simplifies registration and participation through wallet integrations and intuitive interfaces.

Real-Time Notifications:
Keeps investors updated on allocation results and transaction status instantly.

Data Security:
Encrypts sensitive user data with Lit Protocol for robust protection.