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Pragmatic Hodlings

Pragmatic Hodlings contracts allows any organization to distribute it's tokens to all members according to their seniority.

Contracts

  • PragmaticHodlings - main contract with business logic for token distribution
  • MembersBookLib - library used by main contract for storing members data
  • TransferableToken - token contract interface, compatible with Pragmatic Hodlings
  • TestToken - token contract based on ERC20 interface, used in test

Check out this project on Github Pages

Ownership

It is highly recommended to use Multisig and/or DAO contracts as owner of Pragmatic Hodlings contract. That approach will be more transparent and will make actions to be less dependent on organization leaders.

To transfer ownership from deployer call transferOwnership function passing an address of new owner.

Use cases

Add and remove a member

#addHodler #removeHodler

Receive and Settle token

#receiveAndSettleToken

Members

Owner of contract is allowed to add (no duplicates) and remove members. Each members is described by it's ETH address and timestamp related to joining to organization time. Member data are stored in array of Member structures.

struct Member {
    address account;
    uint64 joinDate;
}

Token share calculation

When owner is calling settleToken function, then available token amount is shared between all members existing in MembersBook. Member's share size is directly related to member's seniority, and is calculated from the following formula:

sharesFormula

where A is shared amount, S is member seniority, n is member index and m is member count

The chart presented below perfectly shows how token shares differ in time and how each member share depends on it's seniority and total members count.

It is important to notice that all shares are approaching in time to aDivM, but they will probably never get there. It is a fair enough way to distribute tokens because the oldest member always get biggest share but also newer members have a chance to get significant share.

tokenShares

Settlement gas costs and maximum members count

After running several tests of gas used by settleToken function we came up with some conclusions. Test were done for Zeppelin ERC20 token implementation, test accounts have never owned tokens, and members count on contract was increasing up to 100.

First of all settlement gas cost increase each time we add new member by average 33 000 gas. Furthermore a block has a gas limit which is 8 000 000 for now.

If we do the math we get maximum members count for a contract which is 242.
8 000 000 / 33 000 ~ 242

Warning!
In case of emergency when member count at contract exceed possible limit we should consider this solusions:

  • Create newer version of contract (e.g. with scenario when member pays for its transfer)
  • Move all members to new contract

Contributing

When submitting a bugfix, write a test that exposes the bug and fails before applying your fix. Submit the test alongside the fix. When submitting a new feature, add tests that cover the feature.

Usage:

  • npm install - install dependencies
  • npm run compile - compile *.ts and *.sol files
  • npm test- run tests
  • npm run format - format TypeScript files
  • npm run lint - run linter

Credits

Licence: BSD-3-Clause