fren2fren - solving Bolivia's banking crisis

fren2fren - solving Bolivia's banking crisis

invite-only, non-KYC P2P exchange for communities to onramp members into crypto with social points. one fren fks up - he's out and you lose your points.

The problem fren2fren - solving Bolivia's banking crisis solves

There's a restriction on USD withdrawals in Bolivia. Additionally, crypto is forbidden (tho not criminalized) there. So, the way people are protecting their wealth is through Binance P2P, which is a centralised, non-anonymous onramp to crypto and traders there ask for huge premiums.


Deploy your own invite-only P2P exchange (which is also a treasuryless DAO!)

  • Community based
  • No KYC
  • Permissionless
  • Social scoring
  • First step towards fully fledged DAO

How it works

🏦 Deploy an invite-only P2P exchange with 5 frens
💸 Onramp frens to crypto (and a treasuryless DAO)
👯‍♀️ The more frens you invite, the more points you get
👿 One fren tries to scam, community votes him out
🫥 Your fren gets kicked out = you lose all your points


  • We deployed a smart contract that allows to create trade offers with crypto/BOB pairs.
  • The crypto assets are locked in escrow and only released when the offer is either finalized or cancelled.
  • With every finished trade (when both parties sign the offer and finalise it), their social credit (PP) score grows.
  • Once the user reaches 10 PP (10 finished trades) they gain the power to invite new users into the circle.
  • We integrated light MLM features that earn the inviter 0.5 PP every time a user they invited completes a trade to encourage growing the community.
  • On the contrary, if a user gets terminated from the circle the inviter will have all their PP slashed. This encourages users to only invite fully trusted participants.
  • A dispute can be called at any time and go through a traditional DAO style vote. Every participants PP can be used as voting power. We deployed a Governor contract to make it compatible with standard DAO tooling.

Links to all deployments

Challenges we ran into

  • We wanted to create an anonymous P2P circle using UniRep but had to resort to a traditional pseudonymous system with wallet addresses as understanding and deploying the UniRep stack would cost is too much time.
  • We had many discussions around the social economics and how to verify trust. In the end we landed on a social score + DAO style dispute voting
  • Had to pull an allnighter to make the frontend work nicely 😬
  • Deploying on some chains was complicated due to block explorers being down or RPCs causing issues
  • Naming things 😛