Demo url: https://delamp.alice.si
Deployed contract addresses:
- Skale endpoint: http://126.96.36.199:8068
- const REGISTRY_ADDRESS = '0xf9419373E50ED9c6260C3151304FEDb75973D9eD'
- const FUNDING_CLAUSE_ADDRESS = '0xfB7FFb97db9DeE9879E5317463D0b5c121F76C4a'
Bounties applied for:
Skale, ConsenSys (Usability and Dev Tooling Challenge)
Inspiration for DeLAMP
Most decentralised systems operate in a legal vacuum. This is a huge barrier to mass adoption, as people and organisations won't participate in the decentralised economy if they risk fines or criminal charges by doing so.
Smart contracts might be unstoppable, but the people who use them aren't.
Current initiatives tackling this problem, such as OpenLaw and Accord, have started matching legal clauses to smart contract code, but they are difficult to use for both developers and lawyers, offer very little flexibility, and provide no insights into how the contracts are being used.
DeLAMP is a collaboration between a social DeFi company called Alice, and a global law firm called Ashurst. The idea for it came from a need for Alice to easily generate replicable, compliant smart contracts in order to work with our impact investment and nonprofit clients, and we couldn't find any adequate solutions.
What DeLAMP does
DeLAMP is a general protocol for generating compliant smart contracts and tracking how the clauses are used. It creates a marketplace for legal clauses bound to smart contract code, and provides the governance tools to manage exceptions and update contracts as needs arise.
How we built it
We built it with a simple drag & drop interface that automatically generates both the wet legal contract (text file) and the corresponding smart contract code.
Our protocol tracks how popular each clause is - i.e. how frequently people use it - and provides automatic payments to the authors of the text and code each time a clause is used.
We also built in an exception management system that is able to handle unforeseen or ambiguous situations. Indeed, one of the biggest barriers to lawyers adopting smart contracts, is that some contractual conditions are not binary and cannot be resolved programmatically without human interpretation.
Challenges we ran into
This project was very ambitious. We needed to build an easy-to-use drag & drop interface, as well as a generalised protocol for populating and storing wet contracts, generating code, tracking the use of clauses, and handling payments to authors.
In order to tackle these challenges, our team was composed of kick-ass developers, a world-class lawyer, and a
hilarious spiritual guru.
What we learned
We learned that it is possible to massively reduce legal costs for everyone through the use of compliant smart contracts, and that there is nothing magical about how to bridge the legal and blockchain worlds. It simply takes the right expertise, joyful collaboration and the right incentives.
What's next for DeLAMP
We plan to continue improving DeLAMP, build a community of lawyers and developers who will generate templates and be rewarded for their use, and support the Ethereum community in using it for their protocols and dApps. DeLAMP will become the DeFACTO driver for the mass adoption of deCENTRALIZED systems.