| title | author | company_name | category | focus_area | open_source | amount_requested | status |
|---|---|---|---|---|---|---|---|
FairTransfer |
1m1 (@1m1-github) |
2i2i |
dApps |
Defi |
true |
400000 |
Final |
This smart contract solves the problem of credit-risk-free coin transfer, founders vesting and fair inheritance.
Many employers pay their employees once a month, at the end of month. That leaves the entire credit-risk with the employee. If they paid at the beginning of the month, all the credit-risk would be with the employer. To reduce credit-risk, some employers pay weekly.
With FairTransfer, employees can be paid every second, efficiently, thus minimizing credit-risk.
An employer locks coins in the smart contract and an employee can pull coins out anytime, pro-rata, per-second granular. Pro-rata can be on a linear xor exponential xor logarithmic xor any other pre-defined schedule (each needs implementation).
The same smart contract works for founders vesting their project coins. Or parents giving an inheritance to their progeny, over time rather than all at once.
It is efficient as the beneficiary optimizes for itself and decides whenever it wants to pull the coins. In the modern world, employees would probably pull their coins after each working day, if not even more often, especially if each transaction costs as little as Algorand makes it.
It gives a beneficiary access to it's capital as soon as earned, instead of the letting the e.g. employer earn all the yield, as currently the case.
This smart contract could reduce so much of the entire worlds' credit-risk.
1m1 has 30+ years of experience creating technological solutions to complex problems in the intersection of computer science, math, economics, sociology. 1m1 has worked at large firms as well as startups in various roles. see https://1m1.io for a novel style cv.
grant recipient from the foundation for 2i2i, completed all milestones on time. speaker at Decipher 2022. can code in any language, runs local node, has built dApps including purely web3 (ipfs+Algorand) and web2. also sometimes live streams coding of Algorand dApps.
Date: 3 months Amount: 400000 Description: UI/API, add non-linear schedules, verification (audit)
A common credit-risk-free transfer of coins. Algorand, the champion of the credit-risk bearer (employees). Algorand, the inheritance problem solver (when should I award my kids with inheritance ~ do it over time).
A functional demo can be found here: https://github.com/1m1-github/FairTransfer