Ricardian Fabric | Bridging TradiFi to Defi with permanent storage

As for the DAO creation, other than the basic voting and governance, I would implement my SimpleTerms smart contract in the DAO also of course so users have to accept my terms.
I’m interested in using Ricardian Fabric for governance so it will be the first DAO where you can swear an oath before you can vote.
I also want to employ people through the DAO, including payments and it should function as a company.

For the 10k active users

I chose to onboard with Metamask to Harmony network because of the 5 million active users.

We will create 2-3 short youtube ads and will be running targeted and non targeted ads on different platforms.

The points I want to advertise are :

  1. Semantics attached to the smart contracts lead to better defined assets (is it a security or utility).
  2. You can block sanctioned countries from using your smart contracts.
  3. You can protect yourself from liability if your contract gets hacked.

I got a dedicated marketeer so after test net launch, I will be targeting independent developers and companies in the US and in Europe at first.
I’m based in Europe.

Congrats, your proposal has been approved.

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Thanks a lot! :grinning:
I’ll let you guys know when the project arrives on the testnet!

Hi giv!

I’ve recently made testnet. You guys can try the app out and I have docs already, more on the way.

The latest app and docs links are on:
ricardianfabric.com

The landing page is still under development.

I got here the gitbook docs, it’s also on the landing page:
https://docs.ricardianfabric.com/

I’m still adding things, so it’s not finished but the basics on how to use it are there, I’m updating it every day to add the rest of the things.

I have an NPM dependency for creating compatible solidity smart contracts:

This is not in the gitbook docs,yet but the NPM page docs have everything.

Some update about the DAO:
I added a smart contract catalog to the app, so there is smart contract deployment , and my DAO will be about voting on what smart contract should be select-able from the catalog.
Developers implementing my simple terms contracts can propose their smart contract to appear there and we vote on it, thus provide reviewed smart contracts to select from and decide the app content.

I decided to do a mandatory switch to Harmony network only when fetching the available smart contracts for the catalog, so people get onboarded to Harmony there for sure and most of them will choose to stay for sure.

These DAO features are what is left of the development pretty much and it will be included in the mainnet launch.

I only have one smart contract for now in the catalog, the ERC-20 there is actually an HRC-20…
https://github.com/StrawberryChocolateFudge/HRC20/blob/master/contracts/HRC20.sol

While looking for users I’m also finding newer use cases for my app, as a contracting tool for Discord community DAOs.

Is this eligible for the first 10k grant? I’m looking forward to get marketing budget so I can start planning that as I’m developing the rest of the features.

Thanks!

the first milestone has been funded: Harmony Blockchain Explorer

Thanks :slight_smile:

as an update, the DAO is coming to testnet till the end of the month :crossed_fingers: and I’m doing a UI update on the whole app.
The DAO on testnet is still part of this first milestone.

I have some screenshots but it’s not deployed yet.

DAO

There are a couple of things to vote on:

  1. In order to propose a new smart contract, users need to get RANK, and they can get it by creating a proposal with their github repo. Users with at least 1 RANK will be able to vote approve or reject on anything and RANK is the vote weight.

  2. For new smart contract proposals, basically I make the users fill out a form and upload data to the permaweb and make them call a solidity function with the transaction ID.
    This way I can manage larger amounts of data with the DAO on Harmony, but keep the gas fees low.

It works with the compilation Artifacts, the reviewers need to check for the specific commit, build the project and compare that artifact with the uploaded one.

  1. The last voting category is for the removal of smart contracts from the catalog and possibly to reduce RANK for malicious users.

Catalog

This is the prototype of the new catalog. There will be network specific contracts, premium ones and also compatible and normal ones. (They are compatible if they implement the ISimpleTerms interface)

I’m planning to support the following categories of smart contracts:

  1. Registries
  2. Tokens
  3. Token Sale
  4. Payments
  5. Governance
  6. Other

Ric token

I will call my token Ric, it will be an HRC-20 on Harmony and it’s used for paying for a smart contract, premium contracts need to get unlocked and the Ric is payed to the creator.

I’m going to implement Staking. The token will have a capped total supply that will be distributed to stakers.
Also they will earn AR , because when somebody uploads to the permaweb I can reduce Ar fees and distribute to Ric stakers on Harmony. They just need to save an arweave address in the staking contract.
It’s kind of like cross chain yield, I guess.

New dependency

I also developed a new dependency in the meanwhile to verify ricardian contracts

This will be used when redirecting to a website after signing a contract. Can be used in a DeFi front end to unlock the app after signing the terms, for example.

Other plans

I’m thinking to implement NKN for pub sub and create “Open analytics” for the app.
All deployments (ricardian or smart) done with the app will be published on pub sub and this way I can track the users and create a kind of explorer but keep the app 100% decentralized.

So this is the current progress, I’m building new smart contracts for the DAO and doing the UIs, hopefully I can do another testnet release end of this year and then start preparing mainnet release (Advertisements, more focus on community building etc)
Thanks!

I would like to announce a milestone.
The code for the Ricardian Fabric Dao, that will be deployed on Harmony is here:

I think Daos are the future of work and these smart contracts are a buidl guild.

The goal was to create an incentive for developers to propose smart contracts that use ricardian contracts and to select these smart contracts later from a catalog.

Hence this Dao offers to reward developers with it’s native token, if they contribute to it via proposals.
You can find all the smart contracts and the docs in the link.

Anybody can join the dao after purchasing tokens.

The contributors who submit proposals get token rewards, after the proposal is accepted. The amount depends on if the smart contract has front end or fees.

The dao supports apps made with scaffold.eth, for example, but the smart contracts from the catalog are deployed per use case.

Staking is implemented to secure the catalog and the developers need to stake and it will grow as they claim rewards. They can unstake and claim it, but that will reduce the rank, the voting power.

Additional rewards in ONE and ERC20 tokens can also be collected by token holders.

A ricardian contract (not published yet, will be attached to the catalog) will bind the developers to transfer any fees to a smart contract so native token holders will be able to withdraw dividends.

Fees are only for contracts deployed on Harmony.

The native token is also used for voting on what type of fees (ERC-20 tokens) are accepted.

The token allocation table is on the link above.

I choose to reward the developers first and their work produces the rewards for the community.
Things might start out more slow, but I think it’s sustainable on the long term.

The development is still ongoing on the webapp.
I will have new testnet deployments until March, and I expect a mainnet launch around April.

Hi guys @giv @lij
The Ricardian Fabric DAO is online, you can find the link at ricardianfabric.com

Feel free to give me any feedback.

The Dao contracts are on Harmony Testnet,
File uploads are on Arweave mainnet.
Detailed Docs are coming soon.

Proposals need around 1 week to pass, so there is no catalog content yet.

Some parts of the app are aimed at investors and DAO members, some are for smart contract devs, and the ricardian contracts and the catalog is for everybody.

To quickly explain how it works since the docs are not online, yet,

  1. First page is the Dashboard,it’s pretty self explanatory, it displays some of the DAO state

  2. Second page is for creating ricardian contracts, works like the MVP

  3. Third page is the catalog, it’s empty for now, waiting for the proposals to pass in the DAO.

  4. Then there is a page called Trails, this is for uploading linked documents to the permaweb.
    It can be used for leaving an audit trail for asset referenced tokens, if somebody wants to bridge gold from suisse gold, they can just upload the account statements each month as proofs and all of it is available under the same trail for inspection.
    Trails are linked to ricardian contracts and with that to smart contracts
    The trail is registered on Harmony but the file content is uploaded to Arweave.
    A trail can be public or private (anyone can comment or only the creator) and you can upload something to a trail via the add comment menu in the permaweb dropdown.

  5. Then there is the DAO, it pays contributors for submitting smart contracts that show up in the catalog and there is registration for arweave profit sharing, and also reward token proposals

  6. There is a token sale. Each account can buy Ric once per Rate.

7.Rewards will become available once DAO contributors implement them ( they get higher token rewards, if the smart contracts collect withdraw-able rewards)

8.There is a vault, when rewards are claimed, RIC is locked in a vault.

So there are quite a few features. It will be all documented neatly soon.

What is next:

  1. Docs

  2. I will be running a token presale in a few weeks, the presale contract will be available in the catalog first, then I deploy it on Harmony mainnet.
    The reason for the presale is to raise funds for a thorough code review, the DAO is done but I need to make sure it is indestructible.
    The presale will sell tokens more cheap than available from the app.

So this is a huge milestone, and contracts for the catalog are coming soon.

We have hit the Dao formation and Mainnet deployment milestones @giv can you approve?

Ricardian Fabric is a Framework for creating Legal P2P Services with Smart Contracts.

The DAO:
We have created the multisig wallets required for the DAO treasury.

The application contains a custom built in DAO too.
This app is unstoppable and permanent, full stack hosted on blockchains.
Censorship resistance and decentralization is the default.
The mainnet version is deployed here: Ricardian Fabric

You can find the docs here

The Smart contracts are here.

The terms of the built in Dao

The DAO allows extending the framework with deployable smart contracts
Catalogue content coming up:

NFT contracts with Intellectual Property Rights attached.

Legal escrow service.

Quick example of a legal service (escrow) anyone is be able to create for himself legal contract and frontend and smartcontract

And MORE. We are blurring the lines between legal and smart contracts.

1 Like

How did I miss this project.
I read your it quickly but it sounds amazing. I will have ago at looking into details and how it works.

I like ideas that bridge DeFi <-> TradFi
I believe we are thinking on the same lines and i wanted to ask if there any scope for collaboration both ways with our project Harmony Pay?

DM me if interested chatting further.

On another note I think you will be a good addition to be part of this London International event.
it is on an open discussion to how it will may be happening. I think your project will be very interesting to be presented to estate agents, solicitors and the constructions industry.
I am keeping pencilled you in my notes. If interested make a comment on the event forum page.
Thanks
Adam

Cool thanks I check out the event.

I’m interested in collaboration. I’ll think about it!

This project is basically about connecting hand written contracts with smart contracts. There are tons of use cases for it and this is a framework that gives you a bunch of tools to do it. Works with Harmony and Arweave blockchains.

There is a built in DAO that allows extending the framework with smart contract templates.
so people can upload a smart contract template, we vote on it and if it passes, the smart contract template will be select-able from the app and the contributor gets rewarded automatically with tokens.

I’m hoping that as regulation catches on, the need for this will also increase.
I have no competition on EVM compatible chains, mostly banks use this kind of tech at the moment (R3 Corda, Barclays Smart Contract Templates etc…)

I’m hoping that NFTs with IP Rights are gonna be in demand

and I think B2B smart contracts are the future, so businesses can exchange collateral for cash, or have futures contracts the traditional way with a legal document but the money is exchanged via smart contracts.

I can make migration from the traditional agreements to blockchain more smooth, cuz corporations can keep the lawyers but still use new tech.

Thank you looking forward to see what you think

I would like to find about more about this as the current snapshot for voting gives me a bit of a headache if there is an easier way especially connecting to a Gnosis safe of a DAO that will be great.

thanks
Adam

The built in DAO is a builder guild, for solidity developers only, and the purpose is to directly modify the content of the application via proposals.

It takes ~1 week to pass a proposal and to get in, and I just deployed it so not much going on, still waiting for my own account to get in and then I will add the first content in the following weeks.

There are a bunch of steps to join

  1. need to stake

  2. need to apply for rank ,it’s a proposal to get vote weight

  3. after rank approval, can propose smart contracts or vote on proposals

  4. proposals (smart contract artifact and description) are uploaded to Arweave and the voting is on the transaction Id. It’s a hybrid system.

  5. if a proposal passes, the contributor can pull some token rewards and the smart contract appears in the application

I explain this with screenshots in the docs.

It works like this to avoid abuse, I need to avoid xss, malicious front ends and malicious smart contracts , so not anyone can just join, they need to be approved first and it’s quality over quantity.

I only expect devs to join If the tokens I sell from the app have value, that will create the incentive.
I’m not in a hurry.

@barf can you please detail what the requested $20k amount is for? Is it DAO and mainnet launch?

Hi
DAO milestones and Mainnet milestones.

We hit both milestones and the next goal is 1000 users.

I have formed a DAO using gnosis safe multisig with 9 people and also built a developer guild DAO into the application.

The app is mainnet launched, all contracts are live on mainnet.
Token sale didn’t launch, yet.

I am currently on holidays for 1 week but afterwards me and another dev will start filling up the app with smart contracts to choose from by sending proposals to the the built in builder guild DAO.

1 Like

Looks good, thanks for the update.

Thanks for confirming.

I have resubmitted the funding request with a new ONE wallet address because the previous one used a key created with Harmony ONE chrome extension and due to all the recent hacks we are migrating away from reusing those keys asap. @giv @lij The new funding request has changed address one1swc0jtu0y9cjw4yln48cg0xt2c3hnfasqr06n7

thanks and sorry for the inconvenience.

Thanks, we’ve removed the old invoice and will use the new one.

funded: 0x6647607e18d77da6e499fbac3f9f855863576386b5feac9b00bdb1975c2b0073

What is next

  1. We are doing a security assessment and mitigation because we used private keys created with harmony chrome extension before and we are removing all traces of that from our stack asap. This causes a delay in the plans, we didn’t notice any issues with the private keys, this is for paranoid reasons only.

  2. We got our first user feedback and will be changing some parts of the application to suit the users better. We take all feedback seriously, the legal and smart contract deployment will be more separated from the builder guild to not confuse people, we will simplify and separate some things.

  3. A new landing page is coming soon currently under construction with Gatsby. We will have a slightly new marketing angle where we can direct ad traffic.

Marketing:

  1. After the new landing page, we will be active in the r/cryptocurrency and harmony_one subreddits.
  2. A short video ad is coming that will be on YouTube and an ad for reddit.

Future plans:

  1. We are creating a zkKYC service because the kyc is the missing piece in this application. It will be using zk-SNARKs. An identity service ran by us will do the kyc and create proofs that can be verified on-chain so anyone can add kyc to their defi app easily. The plan is to verify the users once and then create proofs that will be usable on all chains inside smart contracts.We use circom and snarkjs.
    The verifier contract will be added to the SDK hosted on npmjs.

  2. We will add payments for Permaweb storage with ONE. Currently we support Ar, so storage costs are payed directly to keep everything decentralized, however we will add a smart contract and a backend service that will allow pinning Ipfs content on the Arweave blockweave but the fees will be payed in ONE and not Ar!

And more things coming, including the before mentioned deployable escrow service and NFTs with IP Rights, also Ballot and other smart contracts will be available from the application for the users to deploy.