Small Grants: Demo App: Signed Data With Plaid API Endpoints (ecosystem RFP)

1. What is your project? (max 100 words)

SPN DAO is a data DAO that empowers consumers to have governance rights over the use and monetization of their credit card transaction data and to be fairly compensated for their contribution of data.

The data that DAO members contribute is encrypted, stored on IPFS, and tied to a soul-bound token that represents DAO membership. Payments are sent to members immediately whenever their data is decrypted. Both decryption and payments are verifiable on-chain.

Github repo: https://github.com/SPNDAO Demo: https://spn-dao.vercel.app/

2. How is Lit used for this project? (max 100 words)

We have implemented Lit SDK for access control/encryption in the MVP. End users (prospective DAO members) start their onboarding process by uploading a .csv file to IPFS. Both the content of the csv file and the IPFS CID are encrypted. The encrypted CID is referenced in the metadata of a soul-bound token that represents DAO membership. Only an “admin NFT” jointly owned by the admins or delegates in the DAO could decrypt the CID and data. Payments of a fixed amount are sent over to token holders of selected datasets immediately. Decryption and payments are both verifiable on-chain. For example, here.

3. How will you improve your project with this grant? What steps will you take to meet this objective? (max 200 words)

With this grant, we are going to implement Lit Actions + PKPs in combination with the integration of Plaid API endpoints in response to this RFP.

With the current MVP, end users have to manually upload a .csv file. Integration of Plaid API is a crucial step in achieving the following objectives:

Collecting authentic and tamper-proof data from DAO members
Exclusion of sensitive personal identifiable information (PII) from the data
Automation and scaling of the onboarding process for mass adoption
Privacy-preserving KYC to mitigate the risk of Sybil attacks

Signed data with Lit Actions and PKPs: Digital signatures can be used to bring greater credibility to our world at large, creating chains of trust using immutable cryptographic primitives. “Signed data” (whether it be a blockchain tx, verifiable credential, contract, or the like) refers to data that has been signed by a private key, the signature representing proof or consent over a particular digital interaction.

In the use case of SPN DAO, the signature could represent users’ consent to having their credit card transaction data bridged from financial institutions to the DAO and to the monetization of their data as part of the aggregated data from all the DAO members.

4. Is this project open source?

Yes. It's under MIT license.

5. Do you agree to share grant reports upon request, including a final grant report at the end of the two month period?

Yes. We agree to share grant reports upon request, including a final grant report at the end of the two month period.

6. Links and submissions

If your project began at a hackathon, have you submitted it for the relevant Lit Protocol prizes? Include links here if available:

We built the POC at Hack FEVM in mid-November. Subsequently, we did a 30-day sprint and submitted the MVP to Web3 Social Hackathon organized by the Orbis team. The submission was done through a Typeform and is not available publicly. The demo video that we submitted can be found here.

7. Total Budget Requested

Total budget: 3000 USD

Monthly subscription to Pinata. We use Pinata as a gateway to IPFS.
To support four team members: product lead; back-end SDE; front-end SDE; UX & UI designer

This budget is going to be applied towards completing phase 1 of Plaid API integration, as described above. In phase 1, the data that is bridged from users' credit card accounts and subsequently encrypted and stored on IPFS is static. In the next phase, we are going to explore the automation of periodically updating the data sourced from the API and updating the URI referenced in the soul-bound token.

Additional questions:

For each team member(s), please list name, email, Github account, and role in the project.

Karen Sheng: karen@hyperdapp.dev; https://github.com/karensheng; product manager Jonathan Conn: exopi.eth@gmail.com; https://github.com/JonathanConn; back-end developer Yifeng Wang: yfw@berkeley.edu; https://github.com/karlllwang; UX & UI designer Front-end developer: TBD

How did you learn about our grant program?

The product lead met one of the co-founders of Lit irl at ETHSF. The team has since been in close contact with David for incorporating Lit in our product. We learned more about the grant program and the ecosystem RFPs after our participation in Web3 Social Hackathon.

If your project was created as part of an event or hackathon:
- What was the name of the event? (e.g. ETHGlobal, OpenSea)
- Please link to your submission

The project originated at Hack FEVM (first ETHGlobal hackathon on Filecoin's EVM). We were one of the 9 finalists and a runner-up for the best use of FEVM.

https://ethglobal.com/showcase/spn-dao-zwbar

Note that the POC was built on the testnet of FVM. The live demo app was deployed on Mumbai testnet of Polygon.

LIT-Protocol / LitGrants