How it works
An ancient financial tool meets modern technology. Here's how Chord makes community saving transparent, safe, and accessible to everyone.
The basics
A rotating savings and credit association (ROSCA) is one of the oldest financial tools in the world. Known as chit funds in India, tontines in West Africa, tandas in Latin America, and susu in the Caribbean. The concept is simple and powerful.
A group of people agree to contribute a fixed amount at regular intervals. Each round, one member receives the entire pot. Everyone contributes, everyone receives. No bank needed.
ROSCAs have been used for centuries to fund businesses, pay for education, cover emergencies, and build community trust. Chord takes this time-tested model and makes it transparent, automatic, and global.
Total Pot
$2,500
USD
Round 3/5 · 60%Step by step
Set the contribution amount, frequency (weekly, biweekly, monthly), number of members, and collateral requirements. Give it a name and invite your group.
Under the hood
Chord creates a set of rules for each circle that are locked in permanently. No one can change them after the circle starts.
Invited members review the terms and join. If collateral is required, they deposit cbBTC, JitoSOL, or other supported assets.
Under the hood
Your collateral earns yield (staking rewards, lending interest) while it's locked. So your security deposit works for you instead of sitting idle.
Each round, every member contributes the agreed amount. Chord sends reminders via email and push notifications so no one forgets.
Under the hood
All payments are tracked automatically. If a member misses a payment, their collateral covers it. No awkward conversations needed.
Each round, one member receives the full pot. The payout order is set when the circle starts. Transparent and fair.
Under the hood
Waiting for a later round? You can sell your future receivable on the marketplace at a discount, or swap positions with another member.
After every member has received their payout, the circle is complete. Collateral is returned, yield is distributed, and reputation scores are updated.
Under the hood
Members who paid on time build reputation that unlocks better circles, lower collateral requirements, and sponsorship opportunities.
Why Chord
Traditional savings circles work. Chord makes them work better with automatic enforcement, built-in safety, and the simplicity of a modern app.
The rules are enforced automatically. Collateral covers defaults. You don't need to trust every member because the system handles it.
Traditional circles are limited to people in the same city or community. Chord circles can span continents with instant dollar settlements.
Members see dollars, get email reminders, and pay with a tap. All the complexity is hidden. It just works.
In traditional circles, security deposits sit idle. On Chord, your collateral earns 3-5% APY while it protects the group.
Can't wait for your round? Sell your future payout on the marketplace. Need to swap positions? The protocol makes it seamless.
Can't afford collateral? Request a sponsor from the community. Sponsors put up collateral on your behalf and earn a fee. Everyone wins.
Chord is launching soon. Join the waitlist to be among the first to create or join a savings circle.
Join the waitlist