I submitted this project for Particle Network & Bsquared Network.
BTCCLUB
For years I have wanted to participate in fund initiatives to invest in projects (startups and others), but the bureaucracy, the high requirements, and many other problems make it very difficult. And it is something that not only I experience, but also many other people who have a little money and want to support projects in the medium/long term.
The exact size of the private investment fund market is difficult to determine, as there is no single, comprehensive source of data. However, it is estimated that this market has experienced significant growth in recent decades. According to Bain & Company's Global Private Equity Report 2021, assets under management in the private equity industry reached a record of approximately US$4.6 trillion in 2020. In addition to traditional private equity, there are also other types of private investment funds, such as hedge funds, venture capital funds, and private debt funds. Each of these segments has distinct characteristics and investment approaches.
Therefore, through DAO (decentralized organizations) we can create structures so that anyone can invest, through investment clubs (by affinity of ideas, professional relationship, etc.) through Blockchain from anywhere in the world and with fewer requirements. That is why BTC CLUB was born.
DEMO VIDEO -
https://youtu.be/FTeX02Gme5s?si=WKJdaV-7_yOkeT8B
ELEVATOR PITCH -
Smart Contract deployed onBsquared Testnet
- Smart contract - 0x4102264faD436edD9B0015A5031C32FC79D4cD59
https://testnet-explorer.bsquared.network/address/0x4102264faD436edD9B0015A5031C32FC79D4cD59
Smart Account
https://testnet-explorer.bsquared.network/address/0x2eD46De2217B43E19cc4522490ebb23ef824E104
Particle Networ AA (Gasless Txn for Bsquared Testnet)
https://testnet-explorer.bsquared.network/op/0x4600cbf5b6ac6e36d237e17563474f8d71ff5e7ca2be935e2175616d79bbba47
-- User Operation : All useroperation started with this code
const tx = {
to: marketplaceAddress,
data: encodedData,
};
const feeQuotes = await getFeeQuotes(tx);
const { userOp, userOpHash } = feeQuotes.verifyingPaymasterGasless
const hash = await sendUserOp({ userOp, userOpHash });
All code for Smart Contract & BTC connnection to Particle network can be found here: https://github.com/Vikash-8090-Yadav/BTCCLUB/blob/main/Frontend/src/components/Hooks/Connection.jsx
💡Introduction
What you can currently do in this version is:
Create investment clubs: Just define a name and the club will be associated with the account of the user who creates it (owner).
Join or leave clubs: Anyone with an COnflux blockchain account can join the available investment clubs, as well as leave one, with just a couple of clicks.
- Contribute to the club: Any member of a club can contribute to the common fund (pool), depositing BTC coins that can be used in proposals.
- Create and Vote on Proposals: Any member who has contributed funds to the club pool can create proposals, giving a description, amount (not to exceed the pool amount), and recipient, with a view to investing in any business/person in a project. Also, all members can approve or reject the proposal (only one vote per member is allowed on each proposal).
- Run Proposals: A proposal owner can execute a proposal (if approval is greater than rejection), which will cause the proposal amount to be sent to the specified recipient. The owner can also close a proposal, in case of not continuing with it, either as a cancellation, publication error or to avoid sending funds.
- Timing voting: After creation of proposal there is only about 5 min time is given to the mmeber to vote.
Restrictions
The club smart contract has some restrictions, similar to real hedge funds:
- Up to 99 members per club (in many jurisdictions, such as the USA and Chile, this is the maximum limit of club members for certain purposes and types of clubs).
- Only members can participate in club instances.
- Only members who contribute funds to a club have the right to create proposals.
- Only proposal creators can execute them.
💥 Challenges we ran into
- Understanding Dao is very critical and took me more than 4 hours to get the best idea to build
- I faced diffculties while doing Connect BTC via particle network and the issue was because of Old libraries installed. Thanks to Particle Network Devrel.