Funded [De Facto-1] WFCT–ACME Burn Portal

[Anton Ilzheev]

Executive Summary
We need to allow WFCT holders to burn WFCT and claim corresponding ACME amount from the WFCT Treasury.

ANO / Committee
Group: De Facto
FCT address: FA3i67D1iejswC3ki4cYNnG1QSK1f1Ybo3XHtQoGs2LrqL472WxN
FCT: 30000

Total FCT Requested
30000

Start Date
2022-02-22

Completion Date
2022-03-31

Project Description
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.

Problem Statement
We need to distribute ACME to WFCT tokenholders in decentralized way.

Goals and Objectives
WFCT Burn Portal consists of 2 parts:
1) Solidity Smart Contract
2) Web3 dApp (UI)

Success Criteria
WFCT holders are able to burn their WFCT in order to claim corresponding ACME amount.

Timelines and Milestones
Burn Portal will be launched in the end of March, close to the ACME hard-fork date.

Budget
2 man-month / 15,000 USD × 2 = 30,000 USD

Assumed Price Per FCT
$1

Competition
N/A

Additional Information
N/A

 

[Chappie]

The Forum Q/A process has now started. The community may ask questions until Feb 12, 2022 at 00:59 UTC.

Other important dates:

• After the question period ends on Feb 12, 2022 at 00:59 UTC, you may continue to answer last minute questions until Feb 13, 2022 at 00:59 UTC
• Once the answer period ends, voting will start one minute later on Feb 13, 2022 at 01:00 UTC
• Voting will be closed on Feb 16, 2022 at 00:59 UTC and the final results will immediately become available.

 

[PaulSnow]

This is critical infrastructure. We do support this grant.

 

[Niels Klomp]

WFCT is custodial at this point right?

Could you give insight into the amount of WFCT addresses holding tokens, because uniswap only lists 16 addresses, at which point 30K USD becomes a bit much. What is your opinion/vision on that and do you see any alternatives if it really is 16?

 

[Chappie]

This is a final warning that the community has just 24 hours from now to ask any last minute questions.

Other important dates:

• After the question period ends on Feb 12, 2022 at 00:59 UTC, you may continue to answer last minute questions until Feb 13, 2022 at 00:59 UTC
• Once the answer period ends, voting will start one minute later on Feb 13, 2022 at 01:00 UTC
• Voting will be closed on Feb 16, 2022 at 00:59 UTC and the results will immediately become available.

 

[Chappie]

The Forum Question Period has now ended. Teams will have until Feb 13, 2022 at 00:59 UTC to answer any last-minute questions.

Other important dates:

• Once the answer period ends, voting will start one minute later on Feb 13, 2022 at 01:00 UTC
• Voting will be closed on Feb 16, 2022 at 00:59 UTC and the results will immediately become available.

 

[Chappie]

The Answer Period has now ended and Standing Parties may now vote.

Voting will be closed on Feb 16, 2022 at 00:59 UTC and the final results will immediately become available.

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[Chappie]

Thank you for your grant proposal, Anton Ilzheev. The Voting Period has now ended.

The final results for this grant round and the vote audit log may be viewed here: Grant Round: Grant Round 2022-01.