ChopDot is a Polkadot‑based platform that lets groups create shared “pots” to log expenses, automatically calculate each member’s balance, and settle the final amount with low‑fee DOT or USDC transfers that finalize in about six seconds.
Funding
Funding not disclosed
Founders
Product
Problem
Managing shared expenses often requires manual tracking, scattered receipts, and delayed reimbursements, leading to awkward reminders and unresolved IOUs among friends, roommates, or event participants.
Solution
ChopDot provides a Polkadot‑based platform where users create shared “pots” to log individual expenses and automatically calculate each member’s balance. When a pot is closed, settlements are executed as low‑fee DOT (or USDC) transfers that achieve finality in a few seconds, eliminating the need for manual follow‑ups. Receipts are stored immutably on the decentralized Crust Network, and the service plans to offer yield generation on pooled funds through Acala’s DeFi protocols.
Target Audience
Primary users are groups that regularly share costs—such as friends on trips, roommates, festival organizers, and small community events—who need a fast, transparent way to settle expenses without relying on cash or third‑party apps.
Features
- On‑chain pot creation and member invitation for any group size, from roommates to large events
- Automatic expense logging with per‑item payer attribution and real‑time balance calculations
- Instant settlement via DOT or USDC transfers on Polkadot’s Asset Hub with ~6‑second finality
- Decentralized receipt storage on the Crust Network, ensuring permanent, tamper‑evident records
- Low transaction fees enabled by Polkadot’s scalable blockspace and upcoming coretime markets
- Upcoming integration with Acala to allow group savings to earn DeFi yields