The goal is to secure assets over a long time and keep generational wealth secured sustainably. The main use case is inheritance, which is deposited in the trust .
What it does
It is possible to create a decentralized trust (last will) that could distribute your crypto wealth. Each trust is represented by an NFT, which is held by the trustee. You can specify the starting date, the frequency of the payouts and the payment amount. We are secured by smart contracts. There is no human involved, so nobody can steal the trust money. And everybody can trigger the contracts so the system is doesn’t rely on any authority for it to work.
How we built it
The system is powered by a smart contract managing the trust, written in Solidity. We used the Foundry toolchain to develop and test it. The contract extends ERC721 from OpenZeppelin. We built the frontend with React and Ethers.js that allows users to view, create and update their trusts. We’re not using any off-chain backend, everything is loaded directly from the chain. The project is deployed on https://oiotrust.netlify.app/ and the Ropsten testnet.
Challenges we ran into
Managing the project and learning new technologies in a short timespan. Most of our team members were learning Solidity in the process. Also we were surprised by the Goerli testnet outage last night, where we were testing my contracts initially.
Accomplishments that we're proud of
Every part of the team was very responsive and was very involved. Everybody found a place for themself in the project.
What we learned
There was a massive tech and non-tech knowledge exchange in the Team.
- Smart Contracts
- Working with NFTs
- Solidity testing
- Video creation & editing
What's next for OIOtrust
We would like to not only provide the trusts and lock the assets within, but also provide the functionality for the trust creator to invest their locked up assets to further benefit the beneficiaries. So the plan here would be to interact with other DeFi contracts in the space. Another feature we would like to do is
Contract source: https://github.com/OIOLaw/contracts
Frontend source: https://github.com/OIOLaw/frontend
Video is viewable on this channel: https://www.youtube.com/channel/UCQKAG1IniCZbSToah2JoIbg/
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