Legacy

A decentralised app that allows digital assets to be inherited in a decentralised manner, preventing permanent loss of assets due to death or other factors.

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Inspiration

Most times when a person dies or misplaces his private key, his cryptocurrencies are lost forever on the Blockchain and over $4 billion worth of bitcoin alone has been lost due to this.

What it does

Legacy allows you to transfer your assets to your heir in a decentralised manner.

  • User register and provide their next of kin details (address)
  • User also sets a checkIn interval(how frequent they want to check in which when elapses without checking in, the token gets transferred)
  • User selects tokens to be inherited (and allow the Legacy smart contract to spend their token)
  • If User does not check in after a period of time > checkInterval has passed, the tokens are transferred to the next of kin.

How we built it

It was built using, react, ethersjs, javascript, hardhat, and solidity. We also used Chainlink keepers to handle automatic execution of the transactions.

Challenges we ran into

  • Transferring tokens automatically
  • Handling edge cases in smart contract

Accomplishments that we're proud of

  • We learnt how to create a keeper compatible contract in a short time frame
  • We also got a deeper understanding of the ERC20 token standard

What we learned

  • How to use Chainlink keepers

What's next for Legacy

  • Allowing multiple heirs inheritance
  • Allowing inheritance of NFTs
  • Allowing user define percentage of token to be sent to each heir
  • Extra feature for control of potential crypto scam links and emails

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