Smart Contracted Agreements

Smart contracts provide a way to use code to rule over and execute on financial transactions. In this sense, they present a more pure form of agreement that is both evidence and executory logic for promises.

Take for example the humble ICO. It is an open offer to exchange value on the internet, often the native ether of the Ethereum blockchain for "tokens"*. Purchasers accept this offer by signing a Ethereum TX to make the exchange and provide consideration in the fund transfer automated by the ICO smart contract. The agreement is completed after this signature. DAICOs extend this agreement with governance controls and obligations enforced on the token issuer. (*Interestingly, these ICO tokens themselves are smart contracts that essentially serve the limited purposes of tracking balances across Ethereum accounts, though they can contain permissions and other conditions. (**Heck, even some tokens are themselves ICOs. It's smart contracts all the way down.))

It seems useful for lawyers and coders alike to catalogue the different ways smart contracts might represent agreements and what, if any, emergent obligations might be placed on transaction signers here beyond the scope and "four corners" of signed smart contracts.

Asset Swaps

  • Uniswap
  • Bonding Curves
  • Peer-Peer - LexDAO Token Swap

DAO Membership

​​​​-
Select a repo