Legacy

Inspiration

Most times when a person passes away or misplaces his/her private key, the user's owned cryptocurrencies are lost forever on the Blockchain. Also heard about Stefan Thomas who had $220 million worth of crypto-currencies restricted due to him forgetting his private keys. These things led to Legacy being built.

WHAT LEGACY IS MEANT TO DO

Legacy is not just meant to be a solution but an actual solution and need to the issues of users losing billions of dollars of digital and crypto assets in the web3 space. Legacy is designed to serve as a means of retrieval of assets from lost accounts, as the go to defi app for legacy/heritage/inheritance majorly built in and for the web3 space.

HOW WE ENVISION BUILDING LEGACY ON THE EOS BLOCKCHAIN

Frontend: The front-end will be built using reactjs in order to give the best user experience and also take advantage of the numerous existing components in the ecosystem. Interactivity: To interact with the network, we will use eosjs due to its simplicity and ease of use. Finally, the smart contract will be written in EOS smart contract language, C++, with the following features:

Users will be able to create a legacy by providing their next of kin’s wallet address or secondary wallet address, set check-in interval, and choose the tokens that will be inherited by the next of kin or that would be sent to the secondary wallet.
A check-in function will also be available for users to check-in regularly, which must be done within the check-in interval timeframe.
There will also be functions to modify check-in intervals, next of kin, as well as tokens.
Two open functions which can be called by anyone in which one of them will be used to check for legacies due for settlement, and the other triggers the smart contract to settle the due legacies.
Ideally, we hope to run our own network of nodes to constantly check for dues and also settle them on time. We will use a partner notification service to send email to users to remind them to check in regularly.

HOW LEGACY WOULD WORK

Users just need to connect their wallet on Legacy (if the wallet is recognized, it takes you to your dashboard, else, it takes you to the form page).
New users (unrecognized wallets) will have to fill in their next of kin’s name, wallet address, and email.
Users would also have to set a check-in interval which will serve as a time range for which when elapses without the user checking-in, the tokens get automatically transferred.
Finally, the user will have to select the tokens to which he/she wants transferred when the check-in elapses.