Cooperative Savings
Last updated
Last updated
Cooperative savings are groups owned and operated by and for their members/contributors, using pooled funds for the interest and benefits of its member. On Xend Finance, you can be part of a cooperative savings cycle by depositing the amount for one or more stakes. In cooperative savings, one stake might be worth $10, so to contribute in that particular cooperative cycle, you can get a stake for $10, two stakes for $20, and so on. This differs from the Esusu cycle where there is a fixed deposit amount every member/contributor in the cycle has to deposit.
Just as in Esusu cycles, a Cooperative savings cycle has to be created as part of a group. Here is how to create a group.
Click “Open”
Click “Create Cooperative Savings Cycle”
Enter required predefined rules
Click “Create Cooperative”
MetaMask notification pops up
Click “Confirm”
The notification “you have joined cycle successfully” pops up
Below the Cooperative group created;
Click “Open”
Click “Join Cooperative Cycle”
MetaMask notification page pops up.
Click “Confirm”
Notification; “You have joined cooperative cycle successfully” pops up.
