Why are you participating for Based India?

We are relentless builders, driven to tackle real-world challenges with bold, transformative solutions that empower communities and decentralized finance ecosytem.

We are participating in Based India because it offers the perfect platform to build and showcase Splitsure, our decentralized expense-sharing app, to a rapidly growing blockchain ecosystem. India is embracing decentralized technologies, and Base provides the infrastructure we need to develop a scalable solution that addresses trust and accountability in expense management.

By joining Based India, we aim to be part of a thriving community of innovators and developers, gaining valuable feedback, mentorship, and resources to refine and improve Splitsure. This opportunity allows us to connect with early adopters in the Indian blockchain space, ensuring that our product meets the needs of users seeking transparent, decentralized solutions.

India's fintech space is ripe for disruption, and we see Based India as an ideal stage to introduce Splitsure to a broader audience. Our mission is to contribute to the future of decentralized applications, solving real-world financial challenges while building trust and accountability through blockchain.

What challenges are you focusing on?

Group finances often become a tangle of complexity, with social dynamics and trust issues compounding the problem. With Splitsure on Base, we're tackling this head-on by making financial fairness simple, transparent, and frictionless.

We’re creating a trustless system with a reputation score for sure-shot settlement guarantee.

With Splitsure, we are addressing several key challenges in peer-to-peer debt management and repayment tracking, particularly in the decentralized space.

Trust and Accountability: In traditional platforms, users often delay payments or fail to repay their share, causing friction in personal relationships. We aim to mitigate this by introducing a reputation score—a decentralized trust metric that incentivizes timely payments. Users' scores will dynamically adjust based on their repayment history, creating a social contract where one's ability to participate in future splits depends on maintaining a good reputation.

Transparency and Fairness: Financial transparency is often a challenge in group transactions. By leveraging blockchain, we ensure that all transactions are immutable, transparent, and verifiable. Splitsure provides a clear and permanent record of all bill splits, removing ambiguity and disputes over who owes what.

Decentralized Ownership: Traditional platforms control user data, but we aim to empower users by allowing them to own their financial data. Using Base blockchain ensures data privacy, security, and autonomy. Users can track their expenses and payments without intermediaries, making the system more secure and decentralized.

Adoption Barriers in Crypto: We recognize the barrier to entry for users unfamiliar with crypto. To address this, we're working on base to creating an intuitive, user-friendly interface that abstracts away the complexity of blockchain interactions while maintaining the benefits of decentralization, making it accessible even to non-technical use. Thanks to base smart wallets!

How does your submission address this challenge?

Splitsure tackles key challenges in decentralized peer-to-peer debt management with innovative solutions:

Reputation Score for Accountability: The unique feature of Splitsure is its reputation score, which enforces timely payback. Users’ scores adjust based on their repayment behavior, incentivizing prompt payments. A lower score limits their ability to join future group splits, adding social pressure and accountability, directly addressing the common issue of delayed repayments.

Blockchain-Based Transparency: By utilizing the Base blockchain, Splitsure ensures that all transactions are fully transparent and immutable. This decentralized ledger eliminates disputes over contributions or payments. Every transaction is publicly verifiable, ensuring that splits are fair and tamper-proof.

Decentralized Ownership: Unlike traditional platforms that control user data, Splitsure offers complete decentralized ownership. Users maintain full control over their financial data, enhancing privacy and security. No central authority can alter or monetize the information, empowering users within the system.

User-Friendly Design for Accessibility: One major challenge in crypto adoption is complexity. Splitsure overcomes this with a simple, intuitive user interface that abstracts blockchain technology. Users interact with the app just like any traditional expense-sharing tool, making it accessible even for those unfamiliar with cryptocurrency or blockchain operations, thanks to base smart wallets!

By addressing these challenges—accountability, transparency, data control, and ease of use—Splitsure provides a more trustworthy, fair, and user-friendly approach to expense sharing on a decentralized platform.

Challenges we ran into

In building Splitsure, we faced several key challenges:

Smart Contract Design: One of the main hurdles was designing smart contracts that enforce payments and manage reputation scores effectively. It required careful planning to ensure that the logic behind splitting bills and tracking payments was secure, efficient, and fair across different user interactions.

User Experience: Simplifying the blockchain experience for non-crypto users was another challenge. We wanted to abstract complex blockchain interactions so users could focus on splitting expenses without needing a deep understanding of the underlying technology. Balancing ease of use with decentralization proved to be tricky.

Reputation System: Creating a reliable reputation score system involved figuring out how to balance incentives and penalties. The system needed to be robust enough to encourage timely payments while preventing potential abuse or gaming of the score.

Gas Fees: Managing transaction costs on the Base blockchain was a challenge. While blockchain provides transparency and decentralization, the gas fees for on-chain transactions could become a burden, so we had to optimize smart contract interactions to minimize costs.

Adoption and Onboarding: Getting users comfortable with the idea of a decentralized platform was another challenge. Blockchain is still new to many people, and explaining the benefits while onboarding them smoothly was a significant focus area.

Additional Features

Reputation Score System
We introduced a unique Reputation Score to incentivize responsible behavior. Users earn points by promptly settling debts and lose points for overdue payments. This feature fosters trust within the community, ensuring a more reliable user base.

How it works?

1. Being Owed?: When others owe you money, your score increases. The more you manage, the higher your reputation grows
2. Owe Money?: When others owe you money, your score increases. The more you manage, the higher your reputation grows
3. Multiple Splits: Manage more than one expense? Your score balances over time based on how you handle being owed and owing.

We have integrated basenames, so that the reputation is publicaly visible, ensuring the participants to payback on time!

Dynamic Split Management
Enhanced our splitting mechanism to allow users to adjust splits dynamically, accommodating changes in group expenses. This feature enables real-time updates, providing a smoother experience for users as circumstances evolve.

Integration with Wallets
Thanks to base smart wallets, creating and interacting with the dapp is a breeze and feels like a web2 app. Onboarding web2 users to web3 without friction!