Published on

Coincrafter

Authors

Title: Contractly

Github: https://github.com/jayantna/Contractly

Preview: https://contractly-ui.vercel.app/

Contractly

Contractly is the next evolution of digital contract platforms, enabling self-enforcing contracts that go beyond mere acceptance of terms. Built on smart contract technology, Contractly automates the enforcement of agreements, ensuring accountability and trust between parties without the need for manual intervention.

Project Description & Problem Statement

D2C brands face a critical challenge:
Consumers often avoid purchasing directly from brands due to concerns about recourse if something goes wrong. This lack of trust forces brands to rely on third-party marketplaces, sacrificing margins and losing direct customer relationships.

Contractly solves this problem by creating a trustless system where delivery commitments are automatically enforced through smart contracts. This builds consumer confidence, enabling brands to capture greater margins and foster valuable first-party relationships.

In its v1 release, Contractly focuses on delivery guarantees for Direct-to-Consumer (D2C) brands. Brands can stake funds against their delivery promises, and if deadlines are missed, customers are automatically compensated without the need for claims or disputes. By combining familiar digital contract signing with smart contract capabilities, Contractly provides an intuitive, business-friendly interface for creating trustless agreements.

Features

Core Features of Contractly:

  1. Self-Enforcing Contracts: Automatically execute terms when conditions are met or breached.
  2. Delivery Guarantees: Focused on D2C brands, ensuring delivery commitments are verifiable and enforceable.
  3. Staked Funds: Brands stake funds to cover potential penalties, ensuring accountability.
  4. Automatic Compensation: If delivery is delayed, penalties are automatically transferred to the customer's wallet without manual claims or disputes.
  5. Customer Wallet Integration: Customers only need to provide their wallet address (no connection necessary) to participate in the trustless system.

Smart Contract Features:

Contractly.sol (Base Contract):

  • Digital Agreement Creation: Holds party information, signing, and staking of funds.
  • Agreement Statuses:
    • Pending: Agreement is created and waits for all required signings and stakings.
    • Locked: Agreement is locked once all requirements are met.
    • Fulfilled: Agreement terms are fulfilled, and staked funds are returned to the original stakers.
    • Breached: If terms are breached, the breaching party's staked funds are distributed to other parties based on their staking ratio. Non-breaching parties receive their original stakes.
    • DisputeWindow: A time interval after agreement expiry allows disputes to be raised.
    • Disputed: Disputes can be resolved through mechanisms like voting or third-party involvement.
    • Canceled: Agreement is canceled, and staked funds are returned to the original parties.

Delivery.sol (v1 Use Case):

  • Delivery Creation: Creates a delivery agreement and checks if delivery is completed on time.
  • Signing, Staking, and Locking: Handles the signing, staking, and locking of the delivery contract.
  • Fulfill/Breach Agreement: Calls the fulfill or breach functions in Contractly.sol based on off-chain delivery status.
  • Status Check: Uses Gelato Network to trigger functions in Delivery.sol based on off-chain delivery status.

Future Enhancements:

  • Additional Use Cases: Extend the platform to support other types of self-enforcing contracts (e.g., service agreements, rental agreements, etc.).
  • Advanced Dispute Resolution: Implement more sophisticated dispute resolution mechanisms.
  • Multi-Chain Support: Expand compatibility to other blockchain networks for greater flexibility and scalability.
  • Enhanced UI/UX: Improve the user interface to make it even more intuitive and accessible for non-technical users.

Target Users

Primary Users:

  1. Direct-to-Consumer (D2C) Brands:
    • Brands seeking to build trust, reduce customer service issues, and differentiate themselves through verifiable delivery commitments.
    • Especially beneficial for premium categories where delivery expectations are high.

Secondary Users:

  1. Customers:
    • Benefit from guaranteed compensation without friction when deliveries are delayed.
    • Builds loyalty and trust in the brands they purchase from.

Contributing

We welcome contributions! To contribute:

  1. Fork the repository.
  2. Create a new branch:
    git checkout -b feature/your-feature-name
  3. Commit your changes:
    git commit -m "Add your commit message here"
  4. Push to your branch:
    git push origin feature/your-feature-name
  5. Open a pull request and describe your changes.

License

This project is licensed under the MIT License.

Contact

For questions or feedback, feel free to reach out:

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