Post #32346

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[De Facto-1] WFCT–ACME Burn Portal
[SIZE=5][B]Executive Summary[/B][/SIZE]
We need to allow WFCT holders to burn WFCT and claim corresponding ACME amount from the WFCT Treasury.

[SIZE=5][B]ANO / Committee[/B][/SIZE]
[B]Group:[/B] [URL="https://forum.factomprotocol.org/major-contributors/ano/de-facto/"]De Facto[/URL]
[B]FCT address:[/B] FA3i67D1iejswC3ki4cYNnG1QSK1f1Ybo3XHtQoGs2LrqL472WxN
[B]FCT:[/B] 30000

[SIZE=5][B]Total FCT Requested[/B][/SIZE]
30000

[SIZE=5][B]Start Date[/B][/SIZE]
2022-02-22

[SIZE=5][B]Completion Date[/B][/SIZE]
2022-03-31

[SIZE=5][B]Project Description[/B][/SIZE]
De Facto will develop web3-app and corresponding smart contract, that will allow WFCT holders to lock-and-burn their WFCT tokens into the smart contract and specify their ACME addresses in decentralized way.

Once burn tx is finalized, corresponding amount of ACME (5 ACME for 1 WFCT) will be released to the ACME address, specified into the burn tx.

[SIZE=5][B]Problem Statement[/B][/SIZE]
We need to distribute ACME to WFCT tokenholders in decentralized way.

[SIZE=5][B]Goals and Objectives[/B][/SIZE]
WFCT Burn Portal consists of 2 parts:
1) Solidity Smart Contract
2) Web3 dApp (UI)

[SIZE=5][B]Success Criteria[/B][/SIZE]
WFCT holders are able to burn their WFCT in order to claim corresponding ACME amount.

[SIZE=5][B]Timelines and Milestones[/B][/SIZE]
Burn Portal will be launched in the end of March, close to the ACME hard-fork date.

[SIZE=5][B]Budget[/B][/SIZE]
2 man-month / 15,000 USD × 2 = 30,000 USD

[SIZE=5][B]Assumed Price Per FCT[/B][/SIZE]
$1

[SIZE=5][B]Competition[/B][/SIZE]
N/A

[SIZE=5][B]Additional Information[/B][/SIZE]
N/A
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