A ROSCA (Rotating Savings and Credit Association) is a group of people who each contribute a fixed amount to a shared pot at regular intervals. Each cycle, one member receives the full pot. Everyone gets a turn. It's known as Susu in West Africa, Tanda in Mexico, Chit fund in India, and dozens of other names worldwide.
Members agree on the amount, frequency, and rotation order. On each round, one member receives the pool. The cycle repeats until every member has received once.
ROSCAs work because they combine forced saving, community accountability, and access to lump sums without formal credit. Cited in economic research from Ardener (1964) onward.
The Daily Pool takes the ROSCA idea and adapts it: contributions are tiny and daily, selection is random per region, and everything is automated.