Detailed Plan

I am writing my detailed plan in a gitbook for better organization and formatting.

Please refer to:

<https://logicalmechanism.gitbook.io/open-source-vesting-contract/>

Overview:

Many groups within the Cardano community are planning initial token distributions requiring some form of vesting for their initial team members. Current vesting solutions lack voting functionality, allowing subsets of beneficiaries the power of removal from within the vesting contract. This problem and similar problems like it have been a source of discussion in many groups like NEWM, DripDropz, Adosia, and Tokhun. This is an indication that the community needs a solution for this problem. This proposal will attempt to solve this real-life problem within our ecosystem.

The proposed solution is to combine tried and true Plutus pioneer vesting with an on-chain voting mechanism that allows anyone in the vesting group to propose a vote to change any vesting parameters, like the periodicity or beneficiaries, etc. The solution assumes there exists a treasury wallet or contract and some off-chain/on-chain means of communication such that other members could be notified about upcoming voting periods.

The contract will be fairly general so it can be accessible by as many users as possible. Any user will be able to start a vesting contract, redeem their tranche, leave the contract, propose a vote, and participate in a vote. The contract will also have the option and ability to revert to more classic style vesting.

Early KPIs will be mainly focused on GitHub, committing, and releases. With the upcoming updates to PAB, the community may be able to test the contract themselves, allowing for new KPIs to be created during development. After the project is complete, all KPIs will focus on user use cases and community involvement.

This type of project is well defined and is a low-risk high-reward situation. It will be completed within 3 months after the initial Fund7 funding which is approximately May 2022. The project is asking for 10000 USD to help pay for the Plutus development.

This proposal is perfect for the low-budget dapp challenge. It has clear goals and is very obtainable. This project will allow members in the community to vest inside smart contracts that will become the standard in the ecosystem. This proposal solves a problem that will result in immediate usage. It will be something that is trusted, open-sourced, audited, and the premier go-to solution for many members of the Cardano community.