Irrevocable living trust on EVM compatible blockchains

trust.fund

Members: Albert Ho (ah323@cornell.edu)

Tech Stack: Solidity, web3.js, Node, Transak, Harmony

Code: https://github.com/albertinator/eth-portland-2022

Prize Eligibilities: Dystopia Labs, Transak, Harmony

A bit about trust funds

What it is

• An account that releases funds to an heir upon conditions being met
• Most common condition: coming of age (like turning 26)
• An important tool in estate planning and the transfer of wealth to heirs
• In the United States, $2 trillion is locked up in these old school contracts

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What sucks about it

• 3rd party trustee who charges 1-2% annually for holding the funds
• Up to $1K in legal fees
• Possibly $10K to $100K in additional legal fees if there are disputes
• Up to $1K in tax accountant fees

A bit about trust funds

What it is

• An account that releases funds to an heir upon conditions being met
• Most common condition: coming of age (like turning 26)
• An important tool in estate planning and the transfer of wealth to heirs
• In the United States, $2 trillion is locked up in these old school contracts

​

What sucks about it

• 3rd party trustee who charges 1-2% annually for holding the funds
• Up to $1K in legal fees
• Possibly $10K to $100K in additional legal fees if there are disputes
• Up to $1K in tax accountant fees

How are the next $trillion that go into trust funds going to be handled?

Now for a Demo

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• Part 1: https://www.loom.com/share/707ea98b82fb471781c0dbf142a838ef
• Part 2: https://www.loom.com/share/58ab9eb736d2439696add6937a1ea470

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Features to ship

• Sweeping of funds into staking pools while trust fund is vesting
• Optimize fees the user pays to get wealth into wallet
• Dynamically split balance transfer between multiple heirs
• Withhold estimated tax during transfer

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$$$ to make

• Take fiat on-ramp fee
• Take fiat off-ramp fee
• Take commission on staking rewards
• Annual fixed dollar fee for premium member reward schedule

What’s next