Remittance-Backed Cooperative Lending Infrastructure on Base
Millions of Nigerians receive consistent financial support from family abroad, yet those remittances are rarely recognized when applying for loans. Although Nigeria received $21.8B in diaspora remittances in 2025 (CBN), only 6% of adults have access to formal credit, while 26% remain financially excluded (EFInA, 2023).
As a result, borrowers without collateral or formal credit histories often rely on informal lenders despite having verifiable income. At the same time, local cooperatives (Ajo / Esusu groups) and community lenders have capital to lend but lack trusted identity verification, alternative credit assessment, and compliance tooling.
AjoCred is a cooperative lending marketplace on Base that converts verified diaspora remittance history into an alternative measure of creditworthiness.
- For Borrowers: Verify identity through Cleanverse A-Pass and unlock collateral-free credit limits derived from verified remittance inflow history.
- For Cooperatives: Create multi-tenant lending pools with configurable risk parameters, liquidity ceilings, and risk-tier rules.
- For Compliance: Determine loan eligibility using verified remittance activity together with Cleanverse identity verification instead of relying solely on traditional credit histories.
The platform supports onboarding through Coinbase Developer Platform (CDP) embedded wallets (email sign-in) and standard Web3 wallets (MetaMask, Coinbase Wallet, Phantom). The embedded wallet integration is complete, while Coinbase's identity verification service will be enabled once it becomes available in Nigeria.
AjoCred is built directly on Cleanverse Infrastructure (CVI) and Cleanverse Verifiable Architecture (CVA).
- A-Pass Identity: Generates and verifies borrower identities (
POST /generate_apass) before any lending or borrowing activity. - A-Token Deposit Vaults: Assigns dedicated remittance deposit addresses (
POST /query_deposit_address) and tracks verified inboundaUSDCtransfers. - Remittance Analytics: Uses historical remittance activity to determine borrowing eligibility while generating Travel Rule compliance exports (
POST /download_travel_rule). - Fiat Ramp: Enables borrowers to off-ramp borrowed funds directly into local Nigerian bank accounts (
POST /create_ramp_widget_url). - Institutional Whitelisting: Manages approved liquidity providers for cooperative lending pools (
POST /atoken/add_whitelist_for_institutional).
- On-chain A-Pass Validation: Borrowers without a valid A-Pass cannot borrow (
onlyCompliantcontract modifier executingcomplianceVerify). - Validator Registration: The
AjoCredPoollending contract is registered within Cleanverse's validator framework (POST /validator/register). - Network-wide Risk Controls: Cooperative administrators can freeze a defaulter's A-Pass in emergency risk scenarios (
POST /update_status).
| Service / Contract | Network / Provider | Address / Link |
|---|---|---|
| Member App (Web) | Vercel | https://ajocred.vercel.app |
| Admin Dashboard | Vercel | https://ajocred-admin.vercel.app |
| AjoCredPool Contract (Primary) | Base Sepolia (84532) |
0x2d24b34cf7cae0fc2b6620e956ff09ea61f3b215 |
| AjoCredPool Contract (Multi-Chain) | Monad Testnet (10143) |
0x791fd2924c92d43d3fca56681412beea548f75f3 |
| aUSDC Lending Token | Base Sepolia (84532) |
0xaC0893567D43C3E7e6e35a72803df05416C1f20D |
| Cleanverse Validator | Base Sepolia (84532) |
0xaC7e5179C2C7f03f209136886c172eb34F161792 |
Transparent evaluation of current technical limitations during the hacking window:
-
Single-Contract Mode vs. Factory Mode Tradeoff (
registerApass&0xa6725971): Cleanverse'saUSDCtoken contract enforces automatic compliance on transfers into smart contract addresses viaregisterApass(pool, aToken), which can only be called by a Factory contract holding Cleanverse'sREGISTER_ROLE. We deliberately architected AjoCred using Single-Contract Mode to eliminate external factory dependencies and maintain multi-tenant internal accounting within one deployment. The tradeoff is that without Factory-levelregisterApassvault pairing,aUSDC.transferFrominto the contract custodian reverts on-chain with custom error0xa6725971. -
Coinbase Identity Regional Availability: CDP Embedded Wallet authentication (email sign-in) is complete and operational. Coinbase's native identity verification service is currently awaiting regional availability expansion into Nigeria.
ajocred-test/
├── frontend/ # React + Vite + Tailwind + Wagmi (Member Application)
├── admin-dashboard/ # React + Vite + Tailwind + Wagmi (Cooperative Admin App)
├── backend/ # NestJS + TypeScript + Viem + Cleanverse Client Service
├── contracts/ # Hardhat + Viem + Solidity 0.8.28 (AjoCredPool Smart Contracts)
└── docs/ # Project briefs, one-page summary, Excalidraw diagrams, Cleanverse API spec
MIT License. Built for the Cleanverse Hackathon 2026.