M4 Kick-off

[ndkazu]

Motivation Discuss & decide the role & structure of the Finaliser pallet, as well as the Representative role Please, add diagrams and comments relevant to the discussion to this issue, instead of creating a new one (For now).

Representative role summary

To be discussed:

• [x] Representative role extent
• [x] Representative Election process
• [x] Representative actions in the FS system(Tenants metadata modifications, Tenant status(to be established), etc...)

Pallet_Finaliser

To be discussed:

• [x] Notary role extent
• [x] Notary selection process
• [x] Notary actions in the FS system
• [x] Relation between Bidding and Finaliser pallets

Additional topics

• Tenants registry needed for M4?
• Which pallet will manage potential_Tenants-Representative-Asset operations?
• Which pallet will manage Final_tenants-Asset-Landlords operations?

[ilhanu]

After our first call we discussed the workflow of the requirements of M4, in this post I'm summarizing the results of the discussion and adding some new thoughts on the topic.

Finalizer:

This feature is fulfilled in the real world by someone that has authority to pass housing titles and file them in the land titles registry. This is usually done by a notary and they have their own specific way of working. We don’t want to change that process, what we do require is a proof of documents / proof of passing when they come-up with a verdict.

Requirements:

• Has it's own role notary
• Provides a proof linking to the verdict ( this will be further clarified in the future )
• The asset that is has to review should be in ONBOARDED state and should have an investors list reserved.
  • The sale cannot take place without the notary finalising the sale.
  • The Status FINALIZING is applied when the reserved list of investors and the asset is being finalized.
  • When the status is FINALIZING we don't want the bidding-pallet to reserve a new investors list. The asset should essentially be locked.
• The notary may decide a couple of things
  • Accept the sale, which means the bidding-pallet can continue with the happy flow and start the exchange. This would change the status of the asset to PURCHASED. We can let this transition happen by introducing a new status to the asset or adding a new variable for the acceptation so its FINALIZING + VERIFIED --> PURCHASED.
  • Decline the sale to happen for various reasons such as something wrong with the asset or they identified fraudulent behaviour etc. The rejection has two degrees.
  • If there is any behaviour that is fraudulent and the proposal is to be destroyed. The investors would get their allocation in the asset unreserved. If it's the asset the asset should get a new status REJECTED or SLASHED depending on the severity.
  • If there is something found about one or more investors, the housing status should be demoted to Onboarded and the investors should get their allocation unreserved. So there is a new round again. This would mean that the investor that is found to be fraudulent would not be able to participate in the next round. So we would need to give investors also a status. [Verified, Under-Review, Rejected] ?

Structure: Regarding the strucutre of where this logic resides, I'm open for discussion we can make it's own pallet as we stated in the Grant proposal.

Owners-vote:

This feature is fulfilled in the real world by a vote of the owners of the building. We want to the owners (shareholders) to be able to vote on anything regarding governance of the asset. This can be maintanance, Deciding if a tenant should be allowed or Selecting a representative.

One of their duties is selecting a representative, why we want to have a representative role ? As the representative is the first point of contact for the owners and the tenant. More on this in the the next section. This part is about allowing the owners to govern their asset on chain. The owners are responsible for finding their own representative and there will be pool of representatives waiting as this is

Requirements:

• Owners have the investors role and should have assets in their accountId and they own a part of the unique asset that has the state PURCHASED.
• Using the democracy pallet voting and tallying mechanism while relying on the assets-pallets shares for a specific unique asset.
• The first feature is appointRepresentative which allows the owners to select and appoint a representative. This is a one time action and you can't select multiple representatives.
• The second feature which we must expand on is related to allowing the tenant to sign a contract that has been selected by the representative. The owners agree to this.

In the future we can expand on allowing the owners to configure what the representative can do. If a representative has proven it's worthy with other assets, they have a more free role in selection, appointment, maintanance etc.

Structure:

• Integrated in voting pallet, with a prefix of ownersVote*
• Hide the democracy pallet from the UI/polkadot.js if possible (nice to have)

Representative:

Requirements:

The representative is the first point of contact for the owners and the tenant

• The Representative has a role representative and has a unique identifier for the unique asset it's representing. This should be a seperate field in the purchased asset. If it's being not set yet, it should be set to null.
• The reverse should also be possible, the representative should be searchable based on accountId and there should be a list of unique asset a representative has under it's name.
• The representative will need to accept the role after appointRepresentative is called.
• The representative has access to appoint a tenant to the asset. This can only be done by the representative.

Structure: I think the actions of the representative can be structured into pallet-roles and the pallet-onboarding.

• Accepting the role, this can be generic functon as in the future other roles such as servicers that is currently a umbrella term can also be used for accepting a gig/role.
• The appointing of a tenant can be done in the onboarding pallet.