false
false
false
true
0
0
0
CreationContract
{ProjectStart}
PT10S
{MaxInterval}
AvailableAmount<=0
Start...
Starts the project.
Are you sure you want to start the project? You cannot undo this operation.
]]>
Release...
Releases funds in accordance with compliance of contract.
Funds to release:
<[Amount]>
]]>
Project Escrow
Example
Example token used to demonstrate how to model an *escrow account* for a project using a *state machine*.
A *project owner* sells a token for its project. An investor buys the token. Funds are released to the project owner for the
duration of the project, with a cap of how much can be released during a specified interval. Releasing funds is done using
external XML notes on the token.
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The part that creates the
Project Escrow
token and the corresponding state-machine that protects invested capital.
The owner of the project, who is legally responsible for execution of the project, and who gets access to invested capital in accordance with rules setup in the
escrow
arrangement.
The
escrow agent
is an independent party, responsible for releasing investe funds to the
project owner
, in according to this agreement. The
escrow agent
also acts as a
certifier
of the token and its legal framework.
The part that acts as a host of the token and approves its creation.
The initial value of the token.
The currency of the token.
The commission the Trust Provider gets for creating the token and managing the
calculator
.
When token expires.
Invested capital at the time of project start must reach this amount. If not, invested capital, minus commissions, will be returned to investors, and project closed. If threshold is reached, project is started, and invested capital is used in accordance with this agreement.
The maximum amount of money that can be transferred to the project owner during the specified interval.
The interval over which the maximum amount limit is enforced.
When the project is scheduled to start.
This contract creates a token representing a crowd-funded
project
with an escrow function. Invested capital is released to the
project owner
in a controlled manner by the
escrow agent
in accordance with this contract. If invested capital does not reach the
threshold investment amount
of
, the project is cancelled, and invested funds minus commission (
%) is returned to the investor.