Conditional transfer SC (TON)

Features

Secured by TON VM

Smart contract logic is protected by decentralized virtual machine of TON, conditions are guaranteed to be immutable and enforced no matter what happens.

Fully transparent

All information about conditions, beneficiaries, investors and distribution logic is contained in contract data and is easily obtainable and verificable.

Immensely flexible

Lots of configurable parameters and tweakable logic of the contract allows to use it in many different scenarios, from escrow to crowdfundings.

It is possible to set many different conditions for the fund transfer:
Number of collected grams can be set as a condition:
Minimum required collected Grams that are needed to release the funds
Maximum permitted collected Grams that can be collected by contract overall
Minimum accepted amount per each transaction to prevent various attacks
Important time constraints may (and should) be set:
Collection deadline by which minimum required collected Grams must be collected
Release locktime by which it is not possible to act upon collected Grams
Release deadline after which Grams are automatically released or refunded
Various modes that provide flexibility to the contract operation:
Automatic release or refund when release deadline occurs
Continuous collection mode that allows to collect more grams after deadline
Different levels of control over the conditions:
Automatic mode works without any control and relies only on preset conditions
Controlled mode depends upon actions of an external user or smart contract
Splitting between destinations can be prescribed in the contract:
Percentage of total collected sum can be sent
Some fixed Gram amount can be distributed
Ultimate beneficiary will receive all remaining Gram
Contract operation is very easy for all parties:
Controller can use simple scripts to generate required messages
Investors do not need to use any scripts at all even to return funds
If refund phase is ongoing any simple message would reclaim invested funds

Applications (some examples)

Escrow

It is possible to temporarily safely lock funds into the contract and release them to destination if some preset agreements are met.

Custody

Grams can be safely transferred to destination only when it is ready to accept them, or return them back otherwise.

Automatic crowdfunding

The contract may collect Grams from investors and automatically send them to destination if collection target is met by set time.

Controlled crowdfunding

This contract would allow sending funds to destination only if it is permitted by some controller - a person or a smart contract.

More information

Contract

Quick start guide on how to use the contract can be found here. You can read some technical details about the contract on the dedicated page. The code is published in this GitHub repository.

Author

You can find author on GitHub (Skydev0h) or contact on Telegram by handle @Skydev.

DSP SC

Please have a look at another smart contract made by the author for this contest: Data storage proxy smart contract, an infrastructural SC.

/------------------------------------------------------------------------\
| Created for: Telegram (Open Network) Blockchain Contest #2 (Part #2)   |
| Author: @Skydev (Telegram) / Skydev0h (GitHub)                         |
>------------------------------------------------------------------------<
| March 2020, second half                                                |
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