A short guide to understand the basics of Alluo, what it is, who it is for and how you can start earning yield on your deposits.
This small guide is intended for Alluo beginners, DeFi enthusiasts, and developers alike. It tries to answer recurring questions about how to get started and how Alluo works or makes money for liquidity providers (depositors).
🥅 Alluo's Overarching Ambition
Alluo's mission is to democratise access to financial services. We believe a student in Morocco should have the same access to financial services as a billionaire in London.
We want to enable users to save, spend, borrow and invest with a simple app. We believe this is important in a borderless financial world, where people should have the same access to finance wherever they are and not be bound by the geography of centralised corporations.
Today, people do not change email every time they move countries whilst they have to open a new bank account, we believe decentralised finance can enable money to be akin to an email and Alluo’s ambition is to accelerate that vision.
We are doing this by bringing the benefits of decentralised finance (DeFi), to customers globally. Today, we provide anyone with an internet connection a high-yield, easy-access account that generates up to 7% per year on money they deposit in the Alluo Mobile, plus access to this and much more complex strategies through our webapp.
❓ How do we do that?
We want to make earning in DeFi incredibly simple, here is how you can do it.
There are 2 ways to enjoy Alluo, our mobile app and our decentralised web app.
Our mobile app which is available on Google Play and the Apple App Store from alluo.com (and linked below). It is a non-custodial wallet deployed on the Polygon blockchain. Non-custodial means that the private keys of the wallet remains with the user so we (at Alluo) do not have access to the funds of the users unlike a centralised entity (e.g. bank or centralised exchange)
Our decentralised web app, which is available on app.alluo.finance and can be used by people who have access to a non-custodial wallet such as metamask.
The rest of the documentation will touch on three overarching parts of the architecture that drives both the mobile app and the decentralised webapp.
The Liquidity Direction Protocol: The building blocks behind how we generate yield and provide a range of decentralised financial services such as streaming money, dollar cost averaging and yield farming.
Governance: How we use vote results from snapshot.org in a decentralised manner to then execute the results fully on-chain to be fully transparent with how funds are handled and how parameters are set.
Alluo Exchange: The smart contract that our other contracts use to swap between different tokens
Then, we will have a number of tutorial projects that will hopefully inspire and support you to build on top of Alluo!