# Cosmo-Local Credit

> Cosmo-Local Credit helps people and organizations support, share, and exchange goods and services.

## Docs

- [Cosmo-Local Credit](/): Cosmo-Local Credit helps people and organizations support, share, and exchange goods and services.
- [Getting started](/introduction/getting-started): Cosmo-Local Credit (CLC) is a progressive web app for creating, discovering, holding, transferring, and exchanging digital assets, including redeemable vouchers, through independently governed Commitment Pools. The CLC App is available at [cosmolocal.credit](https://cosmolocal.credit).
- [Concepts and vocabulary](/introduction/concepts): Cosmo-Local Credit connects an application, an open protocol, independently governed pools, and the real-world commitments represented by vouchers. These layers work together, but they are not the same thing.
- [Practical voucher example](/introduction/example): This example follows a voucher from issuance through a Pool swap, redemption presentment, fulfillment, and discharge. It illustrates the roles involved; it is not a promise that a particular voucher, pool, route, or outcome will be available.
- [History](/introduction/history): [Grassroots Economics Foundation](https://grassrootseconomics.org/about/) (GEF) built and stewarded the historic Sarafu Network and now operates the CLC App. Its commitment-pooling work developed through years of living and learning alongside communities in Kenya that sustained mutual care through shared commitments. Long before digital systems, people made promises to one another and held them through common memory, relationships, and local accountability. The book [Grassroots Economics: Reflection and Practice](https://grassrootseconomics.org/book/) describes this as a commons of commitments: promises that can be exchanged, fulfilled, and renewed without requiring one central authority.
- [Protocol](/protocol/overview): Protocol v1.1.0 contracts provide the on-chain building blocks for the **Commitment Pooling Protocol (CPP)** described in [Chapter 1](/white-paper/chapter-01-commitment-pooling-protocol-cpp-the-core-primitive) of the white paper. This reference follows the public [`v1.1.0` release](https://github.com/cosmo-local-credit/protocol/tree/v1.1.0).
- [Smart contracts](/protocol/smart-contracts): This page describes the main Pool and Voucher contracts in protocol v1.1.0. Contract behavior provides settlement mechanics; it does not replace the issuer disclosures, Pool rules, or other transaction terms that apply to a particular use.
- [Protocol network architecture](/protocol/network): A CPP-compatible deployment can connect many Vouchers and Pools through optional registries, indexes, quote modules, and application-level route discovery. Each Pool remains a separate vault with its own liquidity, owner, proxy administrator, configuration, and dependencies.
- [Governance mechanics](/governance/mechanics): Governance in Cosmo-Local Credit (CLC) is divided among distinct roles rather than assigned to one universal authority. This page describes governance options for CLC-compatible networks; it does not prescribe a single legal form, voting system, or organization.
- [Cosmo-Local Credit Terms of Service](/governance/terms): **Version 1.1**
- [Cosmo-Local Credit (CLC)](/white-paper): **Version:** 0.8
- [Cosmo-Local Credit](/white-paper/executive-summary): The **Commitment Pooling Protocol (CPP)** describes how independently governed Commitment Pools can curate redeemable commitments, publish exchange-rate methods and limits, hold inventory, and enable accountable exchange. Issuers remain responsible for their voucher commitments. Pool Stewards remain responsible for Pool rules and any guarantee they expressly assume. Neither the CLC App nor GEF is a universal guarantor.
- [Cosmo-Local Credit](/white-paper/chapter-01-commitment-pooling-protocol-cpp-the-core-primitive): **Mental model:** A Commitment Pool is a governed arrangement for admitting vouchers or other assets, publishing exchange rules, holding inventory, and enabling swaps. Holders later present vouchers to their issuers for real-world fulfillment. Pool exchange and issuer fulfillment are separate lifecycles.
- [Cosmo-Local Credit](/white-paper/chapter-02-the-accounting-shift-from-assets-to-trust): Traditional finance begins with **Assets − Liabilities = Equity**. CPP reframes this for a commitment economy:
- [Cosmo-Local Credit](/white-paper/chapter-03-velocity-of-settlement-why-liquidity-providers-should-care): A Pool swap changes which addresses hold assets. Voucher fulfillment occurs when the issuer performs the published commitment. Discharge records the fulfilled units so they cannot be presented again. These events must not be collapsed into one use of “settlement.”
- [Cosmo-Local Credit](/white-paper/chapter-04-reusable-forward-style-collateral): A separately documented credit facility might accept fungible, transferable vouchers as collateral or as a repayment instrument. If it did:
- [Cosmo-Local Credit](/white-paper/chapter-05-from-isolated-pools-to-a-federated-network): Current Protocol v1.1.0 supports direct execution through one `SwapPool` and provides a quote-only `SwapRouter`. It does not execute multi-hop routes, HTLCs, escrow routes, batch netting, or cross-network clearing.
- [Cosmo-Local Credit](/white-paper/chapter-06-the-missing-piece-network-level-liquidity-governance): Experience from the historic Sarafu Network motivated research into two wider design questions:
- [Cosmo-Local Credit](/white-paper/chapter-07-clc-stewardship-and-the-clc-token): This chapter presents one optional future governance and liquidity-coordination design. The proposed CLC governance token, stCLC, sCLC, governance vault, insurance fund, Waterfall, gauges, mandates, fee-credit windows, and external-market programs are not part of the current CLC App or Protocol v1.1.0. Each would require an implementation, accountable operator, published policy and terms, security review, and applicable legal approval.
- [Cosmo-Local Credit](/white-paper/chapter-08-technical-scope-growth): This chapter describes optional or proposed work. It is not a list of features guaranteed to be present in the current CLC App or Protocol v1.1.0.
- [Cosmo-Local Credit](/white-paper/chapter-09-economics-for-lps): This chapter describes a future, separately adopted model. It is not a current App feature, an offer, a promised return, or a right created by depositing into `SwapPool`.
- [Cosmo-Local Credit](/white-paper/chapter-10-comprehensive-risk-framework): This proposed framework separates ten risk categories. For each category it identifies possible indicators, controls, stress tests, and an indicative risk appetite. These are design recommendations, not claims that every control is deployed, effective, or sufficient. Limits, reserves, guarantees, monitoring, coverage, and governance cannot eliminate loss.
- [Cosmo-Local Credit](/white-paper/chapter-11-governance-mechanics): This chapter proposes a governance template. It does not represent that the current CLC App uses governance-token voting, timelocks, shared insurance, a claims process, or every control described below. Each deployment would need to identify its actual decision-makers, authorities, contracts, processes, and policies.
- [Cosmo-Local Credit](/white-paper/chapter-12-lp-term-sheet-non-binding-outline): This is an illustrative checklist for a future, separately documented program. It is not an offer, a current App feature, or a promise of liquidity, access, insurance, return, value, or exit.
- [Cosmo-Local Credit](/white-paper/chapter-13-jargon-plain-language-glossary): - **Cosmo-Local Credit (CLC):** The product family, including the CLC App, documentation, and wider commitment-pooling work. - **CLC App:** The progressive web app operated by GEF at `cosmolocal.credit`. - **Commitment Pooling Protocol (CPP):** The reusable model of curation, valuation, limitation, exchange, and accountable governance. - **Protocol v1.1.0:** The verified public smart-contract release. - **Commitment Pool:** A governed arrangement that admits supported assets and publishes exchange rules. - **`SwapPool`:** The current token vault and direct-swap contract. - **Token:** An on-chain balance or digital asset. Token mechanics alone do not create a redeemable promise. - **Voucher:** A token or record represented by an issuer as a redeemable commitment under published terms. - **Offering:** A catalog record for goods or services associated with a voucher. - **Issuer:** The party responsible for publishing and fulfilling a voucher commitment. - **Pool Steward:** The accountable structure that publishes and administers Pool rules. - **Pool exchange rate or quote:** A transaction parameter produced by a configured quoter; not proof of cash or redemption value. - **Pool token-balance cap:** The current `Limiter` maximum for a token held by a Pool. The App may label it **“Credit limit.”** - **Pool swap:** A direct asset exchange through one `SwapPool`. - **Swap settlement:** The on-chain transfers and fee accounting completing a Pool swap. - **Redemption presentment:** Returning or otherwise presenting voucher units to the issuer. - **Fulfillment:** The issuer provides the promised good, service, benefit, or other performance. - **Discharge:** A record preventing fulfilled units from being presented again. - **Proposed execution router:** Future software that would authorize and execute routes. The current `SwapRouter` quotes only. - **Proposed CLC Network Pool:** A future network-level clearing and budget-coordination arrangement. - **Proposed CLC governance token:** A future governance design, not a current App or Protocol v1.1.0 asset. - **Network rake:** A proposed share of Pool fees transferred to a future network budget. - **Guarantee or insurance:** A protection that applies only when an identified party expressly assumes, funds, and publishes it.
- [Cosmo-Local Credit](/white-paper/chapter-14-kpis-health-indicators): A deployment should publish a KPI only when it can define the event, source, cohort or period, unit, valuation method and timestamp, exclusions, correction policy, off-chain evidence, and data-quality limitations.
- [Cosmo-Local Credit](/white-paper/chapter-15-roadmap-indicative): GEF operates the CLC App at `cosmolocal.credit` on Gnosis Chain. The App provides supported account and wallet access, a public Market catalog, and interfaces for tokens, vouchers, Offerings, Commitment Pools, transfers, and direct Pool swaps.
- [Cosmo-Local Credit](/white-paper/chapter-16-values-evaluation-template-for-listings-liquidity-mandates): A registry, Pool, or future liquidity program can adapt this template. It is not a current universal listing standard or guarantee.
- [Cosmo-Local Credit](/white-paper/chapter-17-legal-compliance-note): CPP can coordinate tokens, vouchers, Pools, and swaps whose legal treatment depends on their design, marketing, use, responsible parties, and jurisdiction. Nothing in this White Paper is legal, tax, investment, credit, or financial advice.
- [Cosmo-Local Credit](/white-paper/chapter-18-conclusion): Cosmo-Local Credit connects a current application and Protocol v1.1.0 foundation with a wider proposed design for independently governed Commitment Pools. Current direct Pool swaps, quote and limit components, and public transaction records can support accountable exchange, but they do not prove issuer fulfillment, create contributor rights, or guarantee value, liquidity, redemption, insurance, legal status, or protection from loss.
- [Cosmo-Local Credit](/white-paper/appendix-a-math-box): This appendix defines a proposed measurement framework. Protocol v1.1.0 does not record issuer fulfillment, real-world discharge, or every data field required below.
- [Cosmo-Local Credit](/white-paper/appendix-b-fee-waterfall): This is a proposed design for a future deployment. It applies only if implemented, funded, and adopted through published governance and participant terms. It does not describe a current Protocol v1.1.0 fee, contributor right, reserve, guarantee, or insurance arrangement.
- [Cosmo-Local Credit](/white-paper/appendix-c-kpi-definitions): These KPIs form a proposed measurement specification, not a statement that the current App or Protocol records every required event.
- [Cosmo-Local Credit](/white-paper/appendix-d-launch-parameters): Every value below is illustrative. It is not a current App default, Protocol v1.1.0 setting, guarantee, offer, or delivery commitment. A future deployment would need to adopt, enforce, monitor, and publish its actual parameters.
- [Cosmo-Local Credit](/white-paper/appendix-e-worked-example): This example illustrates the proposed rake model. It is not the additional protocol-fee calculation used by Protocol v1.1.0.
- [Cosmo-Local Credit](/white-paper/appendix-f-dataroom-checklist): 1. **Historical Sarafu Network evidence** - Archive dated swap volume, active-user and asset definitions, incidents, redemption presentments, aging vouchers, confirmed fulfillment, discharge, holding-duration measures, periods, exclusions, and methodology separately from current Cosmo-Local Credit metrics. - Preserve the [historical Dune Analytics dashboard](https://dune.com/grassrootseconomics/sarafu-network).
- [White Paper archive](/white-paper/archive): The current publication is [Cosmo-Local Credit White Paper v0.8](/white-paper), dated 30 September 2026.