Anyone can take this idea and run if you like
I’d like to be able to subscribe my wallet to a trust smart contract that’s free
Once I subscribe my wallet to the trust smart contract, the trust smart contact would take all the ADA received from staked rewards and move them to a second wallet once a month.
The second wallet would also be subscribed to the trust smart contacts as the main wallet.
I then tells those I love to subscribe to the trust smart contract. Once I approve the subscriptions the second wallet would trigger the contract and move the staked awards to the subscriptions mathmatically equally to all that subscribe.
The trust will be owned by a business or a person or multiple persons. The owners can request subscriptions from wallets or remove them. The owners have full control of the trust and no others.
Would this be a hard smart contract to build?
And also give the option to donate to the author of the smart contract.
The concept of a traditional trust fund is that it has stipulations such that the trustee does not provide access unless the beneficiary party complies. This could be conditions such as reaching the age of adult hood, operating the family business successfully, being married to prince charming, or some other arbitrary legally binding construct. This neutral 3rd party enforces the wishes of the grantor who provides the assets.
In the case of blockchains your “trustee” could be the smart contract but every conceivable condition including beneficiaries, when and how assets will be distributed, and the ability for the grantor to revoke or modify the trust would all need to programmed with Plutus, Marlowe, or equivalent.
So this could be easy or hard depending on the extent of requirements. The primary problem with what you proposed would be the owner (grantor) being able to add/remove the subscribing wallets (beneficiaries) but evenly distributing staking rewards (interest) should be fairly easy.
Thanks for your feedback, great information. I may try to play with Plutus on this one.
Again, thank you for the gems of wisdom. I will start here slowly and make one and if it works well I’ll, I don’t know at this point but I’ll be proud of myself. Lol…
I’ll base it on this tutorial and build from there.
Take it slow, one step at a time. It’s a lot to learn, especially if you haven’t been programming all your life like some of us nerds. This is actually a great idea. If you don’t have the tech chops already you could consider reaching out for help by tagging your next post with “developers” instead of “trading”
Generally creators are all about the purple tags at Developers - Cardano Forum
I am a developer actually, devops, so that’s why I am taking it on. Lol… I am still taking it slow cause it’s a new language for me and getting it right is my first goal so that will make it slow but I am in no rush either. You provided a nice outline for a basic requirements doc, thank you, and as I get further into my training I’ll get scope creep as you eluded to. Lol… Well that is by default since it is for me.
You got the right idea!
I have been a software engineer for well over decades and I can tell you that even if you have played with Scheme, Racket, Haskell, etc it may take some time to learn Plutus. Lambda calculus … who knew it would be all the rage in the 21st century?