How Othello works
A savings circle (ajo, esusu, tontine) with a promise behind it. Members pay in every round and take the whole pot in turn. The usual risk is the member who has already taken the pot and stops paying: here, that member has locked an asset on-chain that covers what they still owe. If it falls short, the shared reserve makes up the difference, and if even that is not enough, the next payout pauses until someone tops up.
What it does not remove: a member who stops paying before their turn can stall the circle, because in this version it waits for them; the locked asset's issuer can freeze, pause or move its tokens; and every step (paying out a pot, declaring a default, topping up) happens when someone sends the transaction. Nothing runs by itself.
Connect a wallet to try it: an EVM wallet such as MetaMask opens Robinhood Chain testnet; a Solana wallet opens Solana devnet.
Three to eight members, one pot
The person who starts a circle names every member and the order they receive the pot. Each round, everyone pays the same amount and one member takes the whole pot.
Each locks a promise
To join, each member locks an asset as collateral and adds a small guarantee to a shared reserve. The collateral is still theirs: it comes back when the circle ends, unless they take the pot and stop paying.
Pay in, take turns
Every round, everyone pays in and the pot goes to that round's member. Any member can send the transaction that releases it; nothing runs by itself.
If someone stops paying
The risk is a member who has already taken the pot and stops paying. Once the round's grace period runs out, anyone can declare the default: their locked collateral covers the payments they still owe, and the shared reserve makes up any shortfall. If even the reserve falls short, the next payout pauses until someone tops up. Someone who stops before their turn has taken nothing; in this version the circle waits for them, and they can still pay late.