baobab-chain/diaspora-circle

Open Soroban protocol for cross-border Ajo/Esusu (rotating savings) circles — let diaspora members contribute in USDC/XLM, settle in seconds | Nigeria + diaspora # DiasporaCircle **An open Soroban protocol for cross-border Ajo/Esusu (rotating savings and credit) circles.** Part of Baobab Chain Labs — built on Stellar. --- ## The problem Ajo/Esusu — rotating savings groups where members contribute a fixed amount on a schedule and take turns receiving the pooled payout — are one of the oldest and most widely used informal financial tools in Nigeria and across West Africa. They run on trust, and that trust breaks in two common ways: 1. **The treasurer disappears** with the pooled funds. 2. **Diaspora members are structurally excluded.** A relative in London or Toronto who wants to contribute to a family circle back home has to wire money through slow, expensive remittance rails, often arriving after their turn in the rotation has already passed. Several apps (closed, Naira-only) already solve problem #1 with escrow. Almost none solve problem #2, because it requires cheap, fast, borderless settlement — which is exactly what Stellar is for. ## What this is DiasporaCircle is a **protocol**, not a closed app. Anyone can build a front-end or bot on top of it. The core logic lives in a Soroban smart contract that: - Creates a savings circle with a fixed contribution amount, schedule, and member list - Accepts contributions in XLM or USDC from any member, anywhere - Holds funds in on-chain escrow until each round's payout condition is met - Releases the payout automatically to that round's recipient — no treasurer required - Tracks a portable on-chain reputation score per member (contribution history, missed payments) that can travel with them into future circles ## Why Stellar / Soroban - **Settlement in seconds**, not the 3–5 days of a bank wire - **Sub-cent transaction fees**, so contributing $20 from abroad doesn't lose 15% to fees like traditional remittance - **USDC on Stellar** gives diaspora contributors a stable-value option without relying on Naira volatility - **Soroban smart contracts** let escrow and payout lo …