💰Project contract

Project Contract Overview

Welcome to the documentation page for the Project contract! This page aims to provide you with a comprehensive understanding of how the Project contract operates, its main functionalities, and important information for end users.

Introduction

The Project contract is a smart contract deployed on the Ethereum blockchain, designed to facilitate crowdfunding and project management functionalities for various initiatives within the Lay3rs ecosystem. It serves as a decentralized platform where contributors can invest in projects using the LAY token, and project managers can create and manage milestones to achieve project objectives.

Key Features

Crowdfunding

The Project contract allows contributors to invest in projects by sending LAY tokens to the contract address. These contributions are tracked and managed within the contract, providing transparency and accountability to all stakeholders.

Milestone Management

Projects are divided into milestones, each representing a specific objective or phase of the project. Project managers can create, commit, cancel, and postpone milestones based on project progress and objectives.

Reward Distribution

The contract includes mechanisms for distributing rewards to various stakeholders, including project managers, contributors, the Lay3rs association, and dataset providers. Rewards are allocated based on predefined percentages set by the project owner.

Security and Governance

The contract implements security features such as pausing functionality to handle emergencies, access control modifiers to restrict certain actions to authorized users, and upgradeability to allow for future contract upgrades while maintaining data integrity.

Functionality Overview

The Project contract consists of several key functionalities:

Initialization

The contract is initialized with essential parameters such as addresses of the DAO Master contract, LAY token contract, NFT Export contract, association wallet, project manager, and contract owner. It also sets initial configurations like LAY price by coefficient, reserve allocated percentage, and rewards percentages.

Milestone Creation

Project managers can create new milestones by specifying a hard cap, deadline, autofinancing amount, and URI for the milestone. This function initializes a new milestone within the project and sets it to a running state.

Milestone Commitment

Once a milestone's objectives are met (hard cap reached before the deadline), project managers can commit the milestone. This action transitions the milestone to a merging state, where global contributor balances are updated.

Milestone Refund

If a milestone fails to reach its objectives before the deadline, project managers can cancel the milestone. This initiates a refund process where contributions are returned to contributors, and the milestone is marked as canceled.

Milestone Postponement

Project managers can postpone the deadline of a running milestone if necessary. This function allows for flexibility in project timelines and adjusts deadlines accordingly.

Reward Distribution

The contract includes mechanisms for distributing rewards to stakeholders based on predefined percentages. Rewards are distributed to project managers, contributors, the Lay3rs association, dataset providers, and the project itself.

Important Considerations

Contributions and Rewards

Contributors should be aware of the minimum contribution amount and understand the distribution of rewards based on project terms. Project managers should ensure accurate allocation of rewards to incentivize participation and project success.

Milestone Management

Project managers should carefully manage milestones to maintain project progress and transparency. They should communicate effectively with contributors and stakeholders regarding milestone status and updates.

Security and Upgradability

While the contract implements security measures, users should exercise caution when interacting with smart contracts. Contract upgrades may occur in the future to introduce new features or improvements, ensuring the longevity and adaptability of the platform.

This documentation provides an overview of the Project contract's functionality and operation. Users should refer to specific contract functions and events for detailed information on contract interactions and behaviors. If you have any further questions or require assistance, please reach out to the Lay3rs team for support.

Happy crowdfunding and project management with Lay3rs! 🚀🔧

⛲Smart contracts architecture