Smart contracts as part of our Administration

Smart Contracts

Following our introduction to Smart Contracts and Cardano budgets, this knowledge base article aims to outline how they will be utilized from the perspectives of the ecosystem, proposal vendors, as part of Intersect’s administration.

Ultimately, treasury funds withdrawn as part of an Intersect treasury withdrawal governance action will, wherever possible and applicable, use multi-signature controlled smart contracts to safeguard treasury funds and make the use of treasury funds transparent on-chain.

Smart contracts will hold treasury funds and vendor payments transparently on-chain, effectively in escrow. These smart contracts can be partitioned into themes and specific project contracts, enhancing community visibility and transparency.

These smart contracts have been built with a specific, limited set of permissions, each of which is authorized through keys and, should they be executed, would be transparent and auditable on-chain. Each partitioned theme or grouping of treasury funds can have its own unique set of permissions. We refer to this group of permissions as an oversight committee.

The following sections of the knowledge base outline the composite parts of the smart contract framework and how they may initially be used.