Leaderboard System

1. Joining a Circle

   • Upon joining a saving circle, users automatically become part of that circle's leaderboard. This leaderboard fosters a sense of community and friendly competition among members, motivating everyone to save more effectively.

2. Ranking Criteria

   • The leaderboard ranks members based on their total amount deposited on-chain. The user with the highest savings balance in the circle occupies the top position, followed by others in descending order of their savings amounts. This system encourages users to contribute more funds to improve their rankings.

3. Dynamic Updates

   • The leaderboard is dynamically updated in real-time to reflect the current savings of each member. As users make deposits, their ranking may improve, while withdrawals may affect their standing. This transparency ensures that members are always aware of their positions relative to others.

4. Impact of Withdrawals

   • When a member makes a withdrawal, their savings balance is reduced accordingly. This can result in a lower ranking on the leaderboard. If a user’s balance drops significantly, they may lose their current position and be overtaken by other members who have higher savings.

5. Encouragement and Motivation

   • The leaderboard serves as a powerful motivational tool, encouraging users to save more and remain engaged in their circle. Users can celebrate milestones and achievements, fostering a supportive and competitive environment.

6. Rewarding Participation

   • At certain milestones, such as reaching specific rankings or savings goals, members may receive additional incentives or rewards, further enhancing the collaborative saving experience.

Conclusion

The leaderboard system in Circles not only tracks savings but also cultivates a community spirit among users. By encouraging friendly competition and providing real-time updates, members are motivated to save collectively and achieve their financial goals together.