This proposal will lead to the creation of a Self-custodial Dapp for Crypto Inheritance and Recovery.

This solution will allow:

• Seamless Wallet Integration – Users can use their preferred wallet while linking it to a smart wallet for enhanced functionality.

• Smart Contract-Based Recovery Mechanism – A rule-based backup plan ensures users can recover their assets even if they lose their seed phrase, without compromising self-custody.

• Blockchain Will Execution – Users can predefine how and when their assets should be distributed among beneficiaries, with a smart contract autonomously executing the process at the request of the beneficiary after they pass away. This process is free of intermediaries.

• Full Ownership & Control – Asset owners can send, receive, and manage funds as usual. Family members can only access their designated share under the conditions set by the asset owner.

• DApp Integration – Users can interact directly with Cardano DApps from their smart wallet, providing a simple user experience and further boosting ecosystem adoption.

Significant progress has already been made on this solution, including the development of smart contracts, the launch of our dApp on the Testnet, and testing and feedback sessions with Cardano users and Inheritance Firms. Here is what we intend to do next in the department of the development of the technology.

Here are the next Steps for Development:

• Enhancing Smart Contracts: -- Develop an optimized version of the smart contracts leveraging Plutus V3. -- Implement Cardano Governance features to ensure a robust and future-proof solution. -- Implement Feedback from Lawyers, Users, and Inheritance Firms in the new and improved smart contracts.

• Improving User Experience: -- Improve the front-end and update off-chain code, incorporating feedback from initial testing and from Lawyers. -- Add new functionalities enabled by V3 Smart Contracts to the Interface.

• API Development and dApp Integration: -- Create an API to enable integration with other Cardano dApps, focusing on compatibility with DeFi applications. -- Facilitate the association of dApp positions and actions with specific beneficiaries for inheritance purposes. -- Collaborate with existing dApps to support integration, requiring targeted research, development, and ongoing collaboration.

• Unified Front-End: -- Develop a unified front-end interface to integrate multiple dApps, streamlining the user experience

Leveraging this Solution for Bitcoin DeFI

Cardano has an ongoing push to become the DeFi Lawyer of Bitcoin, leveraging our e-UTXO model and our Dapp Ecosystem, and this technology would fit perfectly into this narrative:

• Solves a Major Bitcoin Problem – The Bitcoin ecosystem has a massive issue with lost seed phrases and inaccessible funds. By offering a self-custodial inheritance & recovery tool that aligns with Bitcoin’s values of security, decentralization, and financial sovereignty, we can play a key role in attracting Bitcoin liquidity into Cardano.

• Simple to Understand and Use - Besides being a needed use case, it is a simple solution, only slightly more complex than a self-custody wallet. This simplicity makes it an easy introductory solution for Bitcoin holders and makes it more likely to attract Bitcoin liquidity into Cardano.

• Opens the Door to Cardano DeFi - With Dapp Integration, we can easily promote the usage of Cardano Dapps for different use cases, directly from the vault, significantly improving the users' experience, and making it more likely to have more Bitcoin users leveraging the Cardano Dapp Ecosystem and having more liquidity going into Cardano DeFi.

Considering this potential, we will search to follow the evolution of the efforts to connect Cardano to Bitcoin and position this technology to connect with Bitcoin, bring value to the Bitcoin ecosystem and liquidity into Cardano.

Bridging Crypto & Traditional Finance

From being built as a Blockchain will, where rules and distribution are validated and executed by smart contracts at the request of the beneficiaries, this technology has significant applications for the Inheritance Industry. As previously referred, we’ve been approached by firms working in the Industry who would like to use this technology, and we have the chance to build it along with inheritance companies and Lawyers with different dimensions and located in different countries. This is very important for us as it will allow us to build a flexible and scalable solution that solves real-world problems.

The opportunity to build a tool that serves both the crypto industry and the Inheritance Industry opens the door to bringing a lot of liquidity from the real world into Cardano.

Building on the positive feedback received from inheritance firms following demonstrations, we’ve defined the requirements for a pilot MVP. Besides some improvements that will be added in the smart contract and front-end development, there is some supporting technology that will need to be made available. One is a simple front-end to value assets, track the division of assets and value across beneficiaries, account for taxation, and simulate transactions in order to facilitate compliance with Inheritance law in multiple countries. The other is to provide a tokenization service within our platform to facilitate the process of tokenizing RWAs to manage the Inheritance process leveraging the Dapp.

Here, you can see the development required:

• Development of Inheritance Compliance Calculator - This is the tool that will allow us to account for the value of assets, define the percentages of value left to each beneficiary, track compliance with local law, account for Taxation, and simulate transactions to ensure compliance. It will also be flexible and able to update with the most recent inheritance laws from a wide variety of countries. This technology will need to be integrated with the vaults to be more effective and to collect the relevant information about the distribution and valuation of assets. This tool is a requirement for inheritance firms, but it will also be extremely useful for regular cryptocurrency users to help them ensure compliance with the Law in the simplest way possible.

• Integration of existing Tokenization Services - Inheritance firms have shared the need for an easy process to tokenize Real-World Assets to be able to leverage the utility of this technology. As part of this effort, we will search to integrate other Cardano Projects working on the Tokenization of assets into our platform and bring them on board to be part of the Pilot.

Naturally, besides development, there will be a lot of work related to the planning, organization, and execution of a pilot with Inheritance Industries once this technology is made available.

We feel this is an ambitious but realistic proposal that would be possible considering the Team we have and taking into account the budget requested. We’ve also created this proposal because we believe the Benefits of such a solution would be huge for Cardano and for its goals both in terms of attracting Bitcoin liquidity and real-world liquidity from an Industry that inevitably manages a lot of assets. Personally, we also believe this is where we need to move towards if we want adoption. Create a variety of use cases that solve real-world problems, provide a good user experience, and bring companies and users into blockchain simply because the technology is useful to them.

Self-Custody is crucial to interact with Dapps and the wider Cardano Ecosystem. It is the safest way to hold your assets, but it comes with a major drawback—a frustrating and risky user experience:

• Seed Phrase Vulnerability: Lose your seed phrase, and your assets are gone forever.

• Security vs. Accessibility Dilemma: You must keep your seed phrase secret to prevent theft, yet if something happens to you, your loved ones will lose access to everything.

-Blockchain’s Trustless Paradox: The inability to pass on digital assets without intermediaries contradicts the core ethos of decentralization and trustlessness.

These significant problems can be solved with a smart wallet, that leverages Cardano smart contracts, and for which you can connect using your preferred Cardano wallet:

• Secure & Trustless Recovery: Define personalized recovery rules to be executed and verified by smart contracts and without relying on centralized third parties.

• Blockchain Will Execution: Create your Blockchain will leveraging smart contracts and automating the asset inheritance process without relying on intermediaries. This technology ensures your loved ones receive exactly what you intend.

• Uncompromised Self-Custody: Retain full control of your assets, as you have with a regular wallet, while eliminating the fear of permanent loss.

Such a solution would remove a lot of the existing friction and downsides of Self-Custody, making it a more viable option for cryptocurrency users who are not as comfortable with the responsibility and the permanent character of interacting with self-custody wallets.

This problem is huge for Cardano, but also for all the other Blockchains, especially Bitcoin, where the dimension for this problem is the largest with over 20% of the Supply of Bitcoin, according to Chainalisis estimations, being lost forever due to the lack of a recovery and inheritance solution.

This innovation extends beyond crypto, being a needed solution for Real-World Assets (RWAs), where recovering assets and passing them on to the next generation are crucial features in order to be able to tokenize assets, and to properly manage them.

Additionally, the way we are building as a blockchain will that gets executed by Smart Contracts, also opens up the opportunity to solve big problems in the Global Inheritance Industry. This industry current faces challenges in the process of locating assets, beneficiaries and ownership, problems that make the process of managing inheritances is inefficient, manual, and time-consuming, often incurring costs between 3% and 10% of the total inheritance. These inneficiencies, can be extremely reduced with the usage of blockchain technology, that can make firms far more productive and cost efficient, as long as the technology is adapatable to the legal conventions regarding Inheritance.

We have had Inheritance firms that demonstrated their interest and availability to integrate this technology. ( They tested our first version and gave us feedback.) In fact, these firms have expressed their availability to be involved in the testing and development process, a great asset we can leverage to create a real-world solution.

Because images are worth a thousand words, here is a video Demo of the first Testnet version of our Technology, the same one tested by the inheritance firms mentioned above: https://www.youtube.com/watch?v=B3GIwvt1jCA

As previously mentioned, our solution eliminates the biggest user experience challenges associated with self-custody, a fundamental requirement for interacting with our Cardano DApp ecosystem

Such a solution would represent significant benefits for all the self-custodial users of Cardano:

• Blockchain-Based Will Execution: Users can set predefined inheritance rules via smart contracts, ensuring a secure, trustless transfer of assets to beneficiaries—without exposing their holdings by sharing a seed phrase.

• Rule-Based Recovery Mechanism: For the first time, Cardano users can implement a smart contract-powered recovery system in case they lose their seed phrase without giving up self-custody. This solution will allow you to recover assets even after a seed phrase has been lost, according to the strict rules you define. This addresses one of the biggest pain points of the self-custody experience.

By significantly improving the self-custody user experience, we’re not only enhancing security and convenience for existing users but also making self-custody more accessible for new users who have concerns about inheritance planning or the lack of recovery options.

There is a large segment of potential users who are tech-savvy enough to use self-custodial wallets but remain hesitant due to these challenges. Our solution removes these barriers, allowing more users to engage confidently with self-custody, Cardano DApps, and the broader ecosystem.

Additionally, integrating Cardano DApps within our smart vaults will provide a seamless experience, making it easier for users to interact with DeFi, and other Cardano blockchain-powered applications. This, in turn, will increase DApp adoption and on-chain activity on Cardano.

Our solution also directly aligns with Cardano’s goal to become the DeFi Layer for Bitcoin. By introducing this inheritance and recovery functionality to Bitcoin users, who deeply value decentralization, self-custody, and trustless technologies, we can attract a lot of Bitcoin liquidity into Cardano with a simple but needed use case that solves a major existing problem for Bitcoiners.

Finally, this solution will also attract real-world liquidity to Cardano. There have been Inheritance firms and Lawyers who have demonstrated interest in piloting this technology in their operations. This is an opportunity we could take advantage of to bring more assets and liquidity to Cardano, as this firm wants to tokenize assets to manage the Inheritance process using this technology and the security, transparency, and reliability of the Cardano blockchain and the untampered data it stores.

Why is the potential for this technology in the Inheritance Industry so large? Currently, the process of managing inheritances is inefficient, manual, and time-consuming, often incurring costs between 3% and 10% of the total inheritance. By simplifying and automating these processes, the solution reduces delays and costs, significantly improving productivity for inheritance firms.

We have already engaged with firms in the industry, demonstrating our technology and gathering valuable feedback for improvements. These firms have demonstrated excitement and willingness to pilot our solution and have expressed their availability to contribute with feedback to help us build a tool that can be used effectively in the real world.

The inheritance industry manages trillions of dollars in assets globally. This technology could be a great way to capture some of that value and liquidity into the overall Cardano ecosystem by providing Firms with an easy-to-use technology that streamlines processes such as inheritance planning, beneficiary tracking, and asset distribution. For the usage of this technology, firms will be incentivized to tokenize the RWAs they manage into the Cardano Blockchain.

As a Cardano Contributor and holder, I believe that what Cardano needs for meaningful long-term adoption is to build technologies that solve real-world problems and have a chance to be adopted by Industries, and this is the kind of work we are doing with GenWealth and this technology, and why we believe it makes sense to propose this to Dreps and the entire Cardano Community to be considered for the annual budget, as one of the priorities for this year is to attract liquidity and more real world adoption, which we can deliver.

Mainnet Launch of a Self-Custodial Cryptocurrency Solutions: Deploy a fully functional self-custodial inheritance and recovery DApp on Cardano's Mainnet, empowering users with secure, decentralized asset management capabilities.

Inheritance Compliance Calculator: Develop and deploy a live compliance calculator that evaluates assets and ensures alignment with inheritance laws across various jurisdictions, simplifying legal compliance for users and firms.

RWA Tokenization Solution: Co-develop and integrate a straightforward and tailored tokenization solution for real-world assets, making it accessible to firms to tokenize and manage their assets within the DApp ecosystem. Such a solution can be open to multiple asset tokenization providers and firms to make their services available.

Pilot With Inheritance Firms: Initiate pilots with at least 3 different Inheritance firms and professionals where they leverage the technology we are building. This will allow us to further improve our technology to meet the needs of real-world firms and real-world assets.

Integration with DeFi DApps: Enable seamless integration with at least three major DeFi DApps on Cardano, allowing users to designate specific beneficiaries for their DeFi positions and ensuring those assets are part of the inheritance solution.

Here you will find a full description of the Budget and the activities that will be carried in order to deliver the objectives stated in this proposal. This budget was calculated with the gross expenses we will face in the delivery of each of these tasks. For Further transparency, besides the detailed depiction of our Budget, we also share salaries and our efforts to keep costs very competitive for this funding request for the Cardano Treasury

Budget Depiction by Task:

• Smart Contract Development: $7000/month * 2 months = $14,000

• V3 Front-End and Off-Chain Development ( 2 developers) : ($5,000 + $4,000) * 3 months = $27,000

• Testing and Feedback Collection: $4,000/month * 2 people * 1 month = $8,000

• Audit - Here we have a competitive quote from an experienced and reliable auditing firm: $250/hour * 80 hours = $20,000

• Bug Fixing and Improvements: ($7,000 * 1 month) + ($6,000 * 1 month) = $13,000

• Mainnet Launch Preparation and Campaigns:($4,000 * 2 months) + $11,000 (launch and campaign costs) = $19,000

• Infrastructure Costs = $8,500

• Inheritance Calculator Development: -- Back-End Development and Integration: $7,000 * 1 month = $7,000 -- Front-End Development and Refinement: ($5,000+ $4,000) * 2 months = $18,000 -- Testing and Bug Fixing: $5,000 * 1 month = $5,000

• Tokenization Solution Development: -- Co-Development, Integration and Support: $7,000/month * 2.5 months = $17,500 -- Coordination, Legal and Partnerships: $4,500* 2 months= $9,000

• Pilot with Inheritance Firms: -- Coordination of pilot, support, and feedback gathering from firms: $3000x1.5 = $4,500 -- Improvements and technical support: ($7,000 + $4,000) *0,5 months = $9,000

• Research and Planning for DApp Integration: $7,000/month * 1 month = $7,000

• API Development for DApp Integration:($7,000 * 1 month) + ($5000 * 2 months) + ($4000 * 2 months) = $25,000

• Collaboration with Projects for Integration and Improvements: $7,000/month * 2 months + $4000* 1 month = $18,000

Total Cost in USD= $256,000

ADA Equivalent based on a conversion rate of $0.65 per ADA: $256,000 / $0.65 = 393,850 ADA

For further transparency, you have here more information about the competitive wages we have for team members. We We’ve been able to get some very competitive rates, considering their dedication to the project and to the common vision we have for the solution and for Cardano.

CTO -> Monthly wage: $6,000 -> Yearly Wage: $72,000

• This is extremely competitive when compared to the average yearly salary of a blockchain CEO of $150,357 ( https://wellfound.com/hiring-data/r/ceo-5/i/blockchain-cryptocurrency-2 )

Senior Full-Stack Developer -> Monthly wage: $5,000 -> Yearly Wage: $60,000

• Very competitive when compared to the average yearly salary of a full-stack blockchain developer of $137,000 ( https://www.glassdoor.com/Salaries/senior-blockchain-developer-salary-SRCH_KO0,27.htm )

Junior Developer -> Monthly wage: $3,500 -> Yearly Wage: $42,000 Junior Developer -> Monthly wage: $3,500 -> Yearly Wage: $42,000

• Very competitive when compared to the average yearly salary of a junior Web 3 developer of $70,000 ( https://web3.career/web3-salaries/junior-developer)

CEO -> Monthly wage: $3000 -> Yearly Wage: $36,000

Extremely competitive when compared to the average yearly salary of a Web 3 Startup CEO of $150,400 (https://wellfound.com/hiring-data/r/ceo-5/i/blockchain-cryptocurrency-2). We believe the CEO salary should set an example for the rest of the company, so a much more modest salary that covers basic needs is far more appropriate for our Company.

Non-technical person -> Monthly wage: $3000 -> Yearly Wage: $36,000

This is competitive considering an average salary of $80,000 for a community manager in web3. https://web3.career/web3-non-tech-salaries

We’ve searched to create a proposal with competitive cost and wages, for two reasons:

• Even though we are competing for talent with other well-funded companies, it is important for a Startup to manage its costs carefully and to be really responsible with expenses and wages.

• We want to be responsible with the Cardano Treasury funds and deliver a good value for money with our proposal.

A team of:

4 Developers - responsible for smart contract development, off-chain code, backend development, and Launch and maintenance of the Dapp. Additionally, this team will also be developing the additional technology for asset valuation and distribution, as well as coordinating the process of Integration with Dapps and Tokenization Services.

2 people assisting with other non-tech processes crucial for the delivery of this solution - Assisting with Marketing, Testing, QA, work with Lawyers, Admin, partnerships with Dapps, relationships with users and inheritance firms, and much more.

This solution should be delivered in 12 months if we are able to ensure this milestone-based funding opportunity from the Cardano Treasury.

Here is a more in-depth description of our timeline, considering the project goals:

• Mainnet Launch of a Self-Custodial Cryptocurrency Solution - 5 months
• Inheritance Compliance Calculator - 2,5 months
• RWA Tokenization Solution - 3 months
• Pilot With Inheritance Firms - 2 months
• Integration with DeFi DApps - 4 months

We expect the development of this proposal to follow the order depicted above. It’s also important to note that most of these milestones will be worked on simultaneously, reflecting the need for a team of 4 developers and 2 people assisting with non-tech processes. The simultaneous development of the solution will allow the delivery of the proposal in 1 year.

Over the past months, we have dedicated significant time and effort to develop this technology, achieving key milestones that validate both its feasibility and market potential.

Major Achievements:

• Smart Contract Development – Built the core infrastructure enabling secure, trustless asset recovery and inheritance.

• Market & Legal Research – Conducted in-depth analysis to ensure compliance and alignment with industry needs.

• Testnet Dapp Development & Launch – Successfully deployed a functional prototype for real-world testing. Check our demo video here: https://www.youtube.com/watch?v=B3GIwvt1jCA

• Business Model Development – Designed a sustainable economic framework to ensure long-term viability.

• User Testing with Cryptocurrency Users & Inheritance Firms – Gathered valuable insights to improve the technology, refine usability and adoption strategies.

We recently expanded our leadership team, welcoming Leandros Holleman as our CTO. As an experienced Cardano Full-Stack Developer, Leandros has been instrumental in developing projects such as Aneta BTC and the Bro Clan Multisig Wallet, where he has made significant contributions to smart wallet technology on Cardano. His deep expertise in Cardano’s ecosystem will be critical to driving our solution forward.

Our Co-Founder, Rafael, brings extensive experience in building Web2 technology for the Inheritance Industry, equipping him with both Business development knowledge and strong industry connections, particularly with inheritance firms and legal professionals in the United Kingdom. This provides us with a unique advantage in ensuring regulatory compliance and securing early adopters from the traditional inheritance sector.

In addition, both our CEO and CTO have extensive backgrounds in entrepreneurship, providing the necessary resilience, strategic vision, and adaptability to thrive in the fast-paced, uncertain, and challenging world of blockchain startups.

We are also collaborating with top-tier developers and experts who have played important roles in the success of prominent Cardano projects, including Fluid Tokens and Fida Finance. Their expertise further strengthens our technical foundation and ability to scale.

Sustainability is really important for us, as we don’t want this solution to be completely dependent on getting continuous external funding to be able to keep growing and developing. As such, we have developed a sustainability model that gives us confidence that as adoption grows, the protocol should generate sufficient revenue to support its ongoing maintenance, future development, and operations. Here is how the protocol will capture a small part of the value it is delivering:

• User Fees – While most features will be free, features related to inheritance planning and execution will have a small fee, ensuring affordability while contributing to the protocol’s sustainability.

• Inheritance Firms & Legal Professionals – Users of the complete solution will pay for a subscription for premium features, integrations, and enterprise-level support, leveraging our blockchain-based inheritance platform to improve their services.

With the development outlined in this proposal, we believe the solution will reach a stage where it can begin generating revenue to support its sustainability. While full self-sufficiency may take time, our projections indicate that within three years, the protocol should achieve financial sustainability.

This model ensures that the project remains viable long-term, allowing continuous improvements and expansion of the technology without relying on continuous external funding.

Here, we share some links to conversations over this topic that show the concerns related to the problem mentioned in this proposal and the need for a solution such as the one we’re presenting:

https://forum.cardano.org/t/lost-phrase-lost-crypto-forever-really/58003

https://www.reddit.com/r/cardano/comments/mbx09a/what_if_i_die_with_ada_and_nobody_knows_how_do_we/?rdt=38942

https://www.reddit.com/r/cardano/comments/m9aep2/if_you_die_does_your_family_know_what_to_do_with/

https://forum.cardano.org/t/cip-wallet-inheritance/120885

Important to note as well is that this project would be a continuation of a previously funded concept initiative on Project Catalyst that allowed us to create a Testnet version of this Solution. The funding of this concept proposal demonstrates a real interest from the community in the development of such a solution, and with this budget proposal, we will be able to move from a concept into a Mainnet Dapp: https://cardano.ideascale.com/c/cardano/idea/120982

You can check the work we have developed so far in this video, with a complete Demo and explanation of the functionalities: https://www.youtube.com/watch?v=B3GIwvt1jCA

1. Development Team

The success of this project relies heavily on our internal development team to build upon the existing solution and develop new, improved smart contracts and front end. We have the right people with the right skills, so we expect this part to be well assured. Additionally, if something happens with our current team we do have a network of potential skillful developers we could access for the completion of this project.

2 - Feedback From Users and Inheritance Firms

We are building this solution closely with feedback from Web3 users and Inheritance firms, and this feedback will heavily influence the direction and choices we will make. Above all, we want to create a solution that is useful to our target audience.

3- Collaboration with Cardano Native Projects Integration with DeFi applications depends on the openness and willingness of other Cardano-native projects to collaborate.

4-Cardano Blockchain Updates

• We are inherently dependent on the Cardano blockchain. Recent updates, such as those introduced with the Chang and Plomin (Testnet) hard forks.
• While these updates enhance the ecosystem, they have naturally impacted our timeline. Future blockchain updates could similarly extend our development timeline by requiring additional adjustments to the technology.

5-Tokenization Partners

The tailored tokenization solution we aim to develop depends on the contributions of our tokenization partners. To mitigate this dependency, we plan to engage multiple partners, reducing potential risks.

6- Legal Compliance

• Legislation can have a significant impact on the delivery of this project, and compliance with the law is a major concern with such a solution, especially considering the uncertainty related to the whole cryptocurrency Industry.
• However, we have already spent a significant amount of money discussing our technology with lawyers in the space and creating a clear compliance strategy that we can follow without giving up on the core self-sovereign blockchain principles. We are following the best practices to minimize any risks.

7- Budget Allocation

• The successful delivery of all planned deliverables within the next year is contingent on securing the necessary budget.
• While we remain committed to progressing without the budget, this would likely result in slower development.
• We are open to discussions regarding the budget and project scope, and we are willing to focus on a subset of deliverables if this aligns better with the overall funding available and the overall strategy for this year's Cardano Budget.