FairTransfer

= credit risk free energy transfer

= delay coins linearly

Smart contract for linear vesting of coins in sec precision

Lock coins in a smart contract that are meant for someone else (an employee, a founder, an investor, a friend etc.) and that person can withdraw coins whenever they want, always pro-rata linearly.

live: https://algovesting-1m1.web.app

about: https://www.youtube.com/watch?v=_wqvB7cByic

Example

Imagine an employer that locks (budgets) coins for an employee in this smart contract and the employee can withdraw their salary whenever they want. Always fair, get payed no more or less than how much you have worked (timewise).

Some companies pay their employees at the end of each month. This leaves all the risk with the employee (if the company goes bankrupt). If they payment were at the beginning of each month, all the risk would be with the company (if the employee does not show up). To decrease the risk, some companies pay weekly.
In theory, the least risky would be to pay every second (or moment). This would be expensive in the old world. but with a smart contract, the employee can withdraw whenever they want, depending on how much time has already passed.

Assume the company has deposited coins for 1 week (7*24*60*60 secs). After an hour (60*60 secs) the employee could withdraw 60*60/(7*24*60*60)=0.6% of the coins. They could wait and instead withdraw after 2 days (2*24*60*60 secs) and get 29% of the coins.
In case the employee stops working, the company can cancel the smart contract.

This smart contract thus allows for the "fairest" possible compensation.

Details

• works with any ASA

actions

• create - setup dApp including funding of coins

• withdraw method always withdraws full eligible amount (pro-rata current timestamp vs end-start) ~ rate = coins / (end - start) ~ resets start

• update ~ change end ~ needs to be accompanied with coins such that withdraw rate does not worsen vs the first withdrawal rate ~ new end has to be after old end and after now ~ anyone can update (no harm possible) [uc]

• cancel ~ if cancancel was set to true, creator can take back all the coins from the smart contract ~ whatever the beneficiary withdrew already, is of course separate (on their own account) [uc]

params

• cancancel - set by creator: allows creator to withdraw all coins, i.e. to cancel the vesting (use case true: imagine the vesting is for a salary of an employee and that employee quits / use case false: imagine the vesting is a founder of a project and the coins are guaranteed) [uc]

• start timestamp [epoch] ~ auto set to create time ~ reset to current time on each withdraw

• end timestamp [epoch] ~ has to after now ~ after end, beneficiary can withdraw all coins

• beneficiary is set by the creator - a single account

frontend code: https://github.com/1m1-github/AlgoVestingFrontend

uc ~ UnderContruction

Notes

NOT AUDITED NOR FULLY CHECKED FOR SECURITY YET ~ CAN BE DONE IF THERE IS INTEREST