Relief DAO

Relief DAO

Building Bridges in Times of Crisis

The problem Relief DAO solves

Empowering Crisis-Stricken Regions:
ReliefDAO revolutionizes the way financial assistance is provided in times of crises, such as war, natural disasters, or power outages. Here's how it makes a significant impact:

Secure Access to Funds: Users can purchase ReliefDAO's ERC20 tokens, providing them with a secure and portable form of digital currency. This ensures that even in areas with disrupted banking infrastructure, individuals can access their funds with confidence.

Trusted Assistance: Users can designate a trusted person, often in another country, to hold their tokens on their behalf. This trust network allows for immediate financial support when needed most.

Decentralized Fund Management: The ReliefDAO acts as a decentralized autonomous organization (DAO) dedicated to humanitarian aid. It streamlines the process of transferring tokens and converting them into equivalent funds, reducing administrative overhead and ensuring funds reach those in need.

Challenges we ran into

Overcoming ECDSA Signature Challenges
During the development of ReliefDAO, one significant hurdle we encountered was related to ECDSA (Elliptic Curve Digital Signature Algorithm) signatures, specifically the (v, r, s) components. These signatures are crucial for validating and authorizing transactions on the blockchain. However, we faced challenges related to their use.

Challenges Faced
Chain ID Syncing Issue: We initially encountered difficulties with chain ID syncing on the Sepolia testnet. This presented a roadblock in our attempt to ensure secure transactions within the ReliefDAO system.
Resolution and Improvement
To overcome these challenges and create a more robust and reliable solution, we made the following adaptations:

Alternative Solution with DAO Contract: Based on valuable feedback from our mentors and advisors, we decided to implement an alternative solution. Instead of relying solely on ECDSA signatures and chain ID syncing, we developed a DAO (Decentralized Autonomous Organization) contract within the ReliefDAO ecosystem.

Improved Security: The DAO contract not only mitigated the issues related to ECDSA signatures but also enhanced the overall security of the system. It streamlined the transaction validation process, making it more resilient to potential vulnerabilities.

Future Enhancements: Looking ahead, we recognize the potential for further improvements. One area of development involves integrating multiple tokens within a single contract. This enhancement will offer users even more flexibility and options for their financial transactions within the ReliefDAO system.

In summary, while the initial challenges with ECDSA signatures presented obstacles, our project's resilience and adaptability allowed us to pivot and implement a more robust solution. The introduction of the DAO contract has not only addressed the hurdles but has also opened the door for future enhancements and expanded capabilities within the ReliefDAO ecosystem.

Tracks Applied (1)

Ethereum Track

Leveraging Ethereum Smart Contracts ReliefDAO harnesses the power of Ethereum's smart contracts to create a secure, tran...Read More

Polygon

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