FAQ
What is a savings circle (ROSCA)?+
A Rotating Savings and Credit Association is a group who contribute a fixed amount regularly. Each cycle, one member receives the total pool. Known worldwide as esusu, tontine, chit fund, tanda, and hui.
How is Deodes different?+
Traditional circles rely on trust. Deodes uses passkey-based authentication and Arc smart contracts to enforce rules transparently. No email, no password, no bank account needed. Sign in with your biometrics (Face ID, fingerprint) and start saving.
Do I need a bank account?+
No. You don't even need a Arc wallet. Deodes creates one for you automatically using your passkey (Face ID or fingerprint). Just sign in and start saving. Accessible to anyone with a smartphone.
What currencies?+
USDC (Arc). More stablecoins on the roadmap.
What if someone doesn't pay?+
Late payments incur a configurable penalty. After max strikes, the member is removed from the circle.
What is DeoScore?+
Your on-chain reputation (0-1000) built from streak, completions, volume, and recency. High scores unlock larger circles and better opportunities.
Is it free?+
Completely free to create and join circles. Arc network fees are less than $0.001 per transaction. Zero platform fees — period.