https://github.com/gigameshgarages/ebbnet
2020 Matic Network Build-N-Earn Grant Recipient. Decentralised Dynamic Stream of Multidimensional Money Markets powered by Verified Delay Functions
https://github.com/gigameshgarages/ebbnet
erc1620 erc20 ethereum matic matic-network maticnetwork money-movement money-streaming starkware verified-delay-functions
Last synced: 12 days ago
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2020 Matic Network Build-N-Earn Grant Recipient. Decentralised Dynamic Stream of Multidimensional Money Markets powered by Verified Delay Functions
- Host: GitHub
- URL: https://github.com/gigameshgarages/ebbnet
- Owner: GigameshGarages
- Created: 2020-11-09T11:19:39.000Z (over 4 years ago)
- Default Branch: main
- Last Pushed: 2020-12-17T18:32:05.000Z (over 4 years ago)
- Last Synced: 2025-04-01T14:38:08.759Z (about 2 months ago)
- Topics: erc1620, erc20, ethereum, matic, matic-network, maticnetwork, money-movement, money-streaming, starkware, verified-delay-functions
- Language: Solidity
- Homepage:
- Size: 3.82 MB
- Stars: 2
- Watchers: 5
- Forks: 3
- Open Issues: 3
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Metadata Files:
- Readme: README.md
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README
# Title
Decentralised Dynamic Stream of Money with Continous Markets over Matic Network
# Introduction
- Money streaming represents the idea of continuous payments over a finite period of time.
- Block Numbers are used as a proxy of time to continuously update balances.
- Block Numbers are indexed by On-chain randomness produced by verified delay functions
# Workflow
- A provider sets up a money streaming contract.
- A prospective payer can interact with the contract and start the stream right away by depositing the funds required for the chosen period.
- The payee is able to withdraw money from the contract based on its ongoing solvency
- payment rate * verified delay function (current block height - starting block height)
- The stream terms (payment rate, length, metadata) can be updated at any time if both parties pledge their signatures.
- The stream can be stopped at any point in time by any party without on-chain consensus.
- If the stream period ended and it was not previously stopped by any party, the payee is entitled to withdraw all the deposited funds.
# Motivation
This standardised interface aims to change the way we think about long-term financial commitments. Thanks to blockchains, payments need not be sent in chunks (e.g. monthly salaries), as there is much less overhead in paying-as-you-go. Money as a function of time would better align incentives in a host of scenarios.
# Applications
- Salaries
- Subscriptions
- Consultancies
- CDPs
- Rent
- Parking
- Pensions
- Micropayments
- Subscriptions
# Challenges
Block times are a reasonable, trustless proxy for time on the blockchain. Between 2016 and 2018, the Ethereum block time average value hovered around 14 seconds, excluding the last two quarters of 2017. Mathematically speaking, it would be ideal to have a standard deviation as close to 0 as possible, but that is not how things work in the real world.
# Implementation
- Integrating VDF into the ERC 1620 Time Functions
- Integrating Dispute Verified Oracles into ERC 1620
- Integrating ERC 1671 with ERC 1620
- Deploying ERC 1620 into Matic Network
- Deploying ERC 1671 into Matic Network
# References
- EIP 1671 https://github.com/ethereum/EIPs/issues/1671
- EIP 1620 https://github.com/ethereum/eips/issues/1620