Circles Documentation
  • Welcome to Circles
  • Overview
    • Understanding Personal and Group Currencies
      • Personal Currencies
      • Group Currencies
    • Why Build on Circles?
    • Circles Architecture
  • Developer Docs
    • The Circles Stack
    • Circles SDK Overview
    • Quickstart Guide for Circles SDK
    • Setting Circles Profiles
    • Building with different Circles Avatars
      • Personal / Human Avatars
        • Inviting and accepting human avatars
        • Mint personal tokens
        • Fetching profile of an human avatar
        • Manage trust connections
        • Get token balances of an avatar
        • Transfer personal Circles tokens to different avatar
      • Group Avatars
        • Create Base Groups for your community.
          • Vanilla groups with V2 hub
        • Mint group tokens
        • Managing group invites
        • Find groups and memberships
        • Getting total supply of group tokens available
      • Organization Avatars
        • Creation of Organizations
        • Managing trust connections via Org avatar account
  • Tutorials and Examples
    • Setting up Circles SDK with React
  • Querying Circles profiles and data
    • Query Circles Data
    • Subscribing to Avatar events
    • Utilising CirclesQuery Class
    • Query Circles profiles
  • Circles SDK Reference
    • Circles SDK interface
    • SDK Methods
    • Circles Data Methods
    • Circles Events Types
  • Developer Support
    • Glossary
    • Past Hackathon Projects on Circles
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  1. Overview

Why Build on Circles?

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Last updated 6 months ago

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Circles is a decentralized protocol with a social and economic value for humans, communities and groups. Circles is not a crypto startup or product in general, but a collective effort to bring a fair distribution model for the money created, owned and shared by people.

Explore our developer documentation, and join us in our mission to create a fair and sustainable economy for all.

Each user generates tokens continuously at a rate of one Circle (CRC) per hour, ensuring equal opportunity regardless of when they join. This promotes fairness as everyone has a chance to accumulate Circles.

Circles operates on a trust-based model, forming a social graph where users trust each other's CRC tokens. Trusted tokens become fungible, creating a dynamic economy backed by genuine social connections.

Circles integrates a demurrage mechanism, applying a 7% annual fee on held tokens. This keeps the currency circulating, benefiting the overall economy and promoting continuous engagement within the community. For most human users, the fee is offset by the steady income of 1 CRC per hour. Organizations always have to pay the fee.

By decentralising the verification process and leveraging human judgment for trust, Circles addresses the issue of fake accounts. This fosters a secure and resilient ecosystem, where the authenticity of each user is ensured by their social connections rather than centralised authorities or algorithms.

Circles v2 allows for the creation of group currencies, enabling communities to share a currency that's backed by their members' personal tokens. This reduces risk, simplifies payments, and enhances market creation by aggregating individual tokens into a more stable group currency that's easy to integrate into existing protocols.

By joining the Circles developer community, you can play a crucial role in building a more equitable and inclusive financial system. You can build applications, support developers, and invite more people to join your trust network.