Open Smart Contract Library
Problem
Currently, there aren’t strong enough incentives in place to make collaboration the obvious solution for projects building on Cardano.
Solution
Create a platform that allows Cardano developers to upload smart contracts and earn profit when other developers and/or projects use them.
Total to date
This is the total amount allocated to Open Smart Contract Library.
About this idea
[IMPACT]
Our solution will create proper incentives to encourage Cardano developers to share their progress with the rest of the ecosystem. We will create a platform where users can turn smart contracts they have built into templates that can be used by other projects. They can upload these templates to a library that other projects have access to use. Whenever a smart contract is used from this library, a small fee will be paid to the original developer of the template. Developers can either upload their own code which they think could be useful to other community members, or complete code bounties to solve pre-defined problems in the ecosystem. This incentivizes developers to build templates that provide the most utility to the most projects on Cardano, while allowing other projects in the ecosystem to access affordable, high quality code.
This solution will increase the number and quality of Cardano open source projects, increase the number of contributors, and increase the number of open source tools/frameworks.
By paying developers when their contracts are used, we can create financial incentive for developers to upload smart contracts that provide maximal utility to the ecosystem.
As more beneficial tooling becomes available for Cardano projects to leverage, more projects will emerge. More projects building on Cardano means a larger market will become available for smart contract developers to cater to. This increase in demand will attract more and more developers to contribute to the library, thus providing even more tooling for future Cardano projects.
Overall this creates a positive, collaboration-centric flywheel that will help to propel the Cardano ecosystem forward faster.
A large challenge for this project will be building the smart contract templates in a way that they can be easily integrated into different projects that may have different structures.
To address this issue, we'll begin by building smart contracts that are tailored to DAOs built using our Clarity DAO Tooling Protocol. This way the organizations have a similar core structure and will be able to more easily build interoperable software.
As the process of uploading smart contracts to our library becomes more refined and efficient, we'll begin broadening the scope of projects that contribute to the protocol.
[FEASIBILITY]
Q2 2022
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- Plan and research
- Build initial smart contract templates internally
Q3 2022
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- Integrate initial templates with Clarity Protocol for testing and refinement
- Extend capabilities to include open collaboration
- Community Rating System
- Spec/Documentation Writing
Q4 2022
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- Audit Prep
- Formal Audits
Development: 700 Hours
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50 Planning and Research
150 Build Smart Contract Upload Portal
70 Integration with Clarity Protocol
80 Extension for Community Contribution
100 Testing
150 Spec/Documentation Writing
100 Optimizations/Audit Preparation
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700 Hours Total
$56,000
Business Development: Clear Contracts
Engineering: MLabs
[AUDITABILITY]
KPI’s: # of templates used, # of templates created, # of developers contributing, # of projects using templates.
One month goal: Create a standard process to turn audited Plutus smart contracts into templates on our platform. The initial contracts submitted to the smart contract library will come from our internal team to refine this process.
Three month goal: Add the ability for other developers to upload their own templates and receive rewards.
Six month goal: Broaden the scope of the smart contract library beyond DAOs. Build a credibility metric to give precedence to formally audited contracts.
F7 Funded Proposal: No Code, Audited Smart Contracts
https://cardano.ideascale.com/c/idea/382311
This idea lays out our vision of creating a library of smart contracts that will be beneficial for the community to use. It would greatly increase the rate of innovation and collaboration in the Cardano ecosystem if the platform was extended to support smart contract uploads from community members.
Team
We are currently partnered with MLabs to build Clarity, a DAO tooling protocol on Cardano. This involves building the beginnings of a smart contract library, which we are proposing to extend in order to allow outside parties to contribute.
