What is Circles?

Rotating savings clubs have existed for centuries. West Africans call them ajo or esusu. Ghanaians call them susu. The Caribbean, South Asia, Latin America, and East Asia all have their own versions. The mechanics are the same everywhere: a group of people pool a fixed amount each cycle, one person receives the full pot, and the rotation continues until everyone has had a turn.

It works. The problem is what happens when it doesn't. Someone ghosts after receiving their payout. The organiser disappears with the funds. There's no contract, no recourse, and no way to verify whether contributions were actually made. Circles replaces the social pressure holding these groups together with a smart contract on Solana.

The contract holds contributions in escrow, enforces the rotation order, and sends payouts automatically. If a member defaults, the group votes to slash their collateral. Everything is recorded onchain — permanently and publicly.

A quick example

Eight people each put in 100 USDC per month. Every month one person receives the full 800 USDC pot. After eight months everyone has contributed 800 USDC and received 800 USDC once. The net cost is zero. The benefit is access to a lump sum you would otherwise take eight months to save alone.