We are happy to announce the first alpha testnet release of ChainPact - a dApp to create payment-based agreements. This would (eventually) allow anyone to break free from the certain web2 apps that charge too high a commission for employment contracts or fundraisers.

If you wish to test it out, head over to https://app.chainpact.xyz

Feel free to use the "Request a Feature" option within the app to report issues and requests.

Our vision to enable freelancers, entrepreneurs and just about anyone else to create an unbreakable pact on the chain is now one step closer to starting operations with real money. We take this opportunity to once again brief our ideas about this dApp and call for the community to help us improve the project.

Why ChainPact?

We believed it was important to have a dApp around the corner that to create payment agreements for simple things like a time-rated work agreement (employment/freelance). This system should be dependable, and there shouldn’t be any reason to apprehend the non-payment of dues after work.

We collected bits of the most common employment contracts and freelance agreements and attempted to create a smart-contract compatible workflow and named it the Gig pact. This not only acts as a payment escrow, but also tags milestones such as whether both parties have signed, whether the pact is started or is on hold, or retracted even.

In the time to come people would pursue other ventures alongside their usual 9 to 5 jobs. The Proposal pact is just the decentralized tool to give out a proposal to the internet and raise (crypto) funds on it. Think of it as a tweet, but with a purpose, that can receive funds. Contributors can also vote on a later date, and decide whether or not to pull back the funds. What’s more, it all works under the inviolable rules of the smart contract.

What’s next?

Currently we are live on L2 chains: BNB Testnet, Avalanche Fuji Testnet and the ever-popular Polygon Mumbai. Moving ahead we will be deploying the app to their corresponding mainnets.

We plan to bring on other L2 networks of Ethereum as well and fix a lot of bugs. Given the small size of the team and Hofstatders’ law things may be a little slow up till the mainnet launch. Stay tuned for more updates! Meanwhile, don't let 'em web2 platforms get yo' money

(Gif credits: https://tenor.com/view/cat-crazy-blue-cat-money-mine-dont-touch-gif-15942487)

Do you know someone who can help us out by reviewing, testing, smart contract security, and performance improvements? Drop a word (or an essay) to chainpact@nmodulo.com.