Subledgr is a platform for multi-token fund management, accounting & reporting
Medium Spender
5 Comments
Executed

General Project Information

Short description: Subledgr is a platform for multi-token fund management, accounting & reporting (Phase 1)

Project Category / Type:

  • Software development (applications, tools)
  • Miscellaneous (research, services)

Proponent: derek // metaspan.com

KSM address: HyLisujX7Cr6D7xzb6qadFdedLt8hmArB6ZVGJ6xsCUHqmx METASPAN

Requested allocation: 1,430 KSM (~£50k @ £35/KSM 21-Feb-2023, EMA7 for KSM/USD, EMA7 for USD/GBP, ref. Budget section for full details)

Discussion date: 31 Jan 2023 (discussion)

Problem Statement

  • Multi-chain, multi-account - Most users hold and manage tokens across multiple chains, and use different accounts for custody and control (e.g. stash & controller for staking/nomination). Account holders & fund managers do not have affordable tools focused on financial management, reporting and planning.

  • New processes - Fund and Grant Management is a niche area requiring specialist attention. Managing a fund-in-a-fund is common practice, and we need a toolset to support this.

    Governance processes are evolving fast, with new features and capabilities being added all the time. We need aggregated tracking and accounting for funds locked in validating, staking, nomination pools, lending & governance processes (proposal, bounty, childBounty).

  • Lagging tools slow adoption - Users are mostly dependent on web2 tools and spreadsheets for financial management and reporting. These tools are focused on fiat with 2-decimal computation & reporting.

  • Affordability - Existing crypto accounting tools are charging large fees.

  • Parachains - None of the existing solutions cater for parachains.

Proposal

The goal of the project is to create easy-to-use tools for managing & reporting - in aggregate - across multiple chains and tokens.

Subledgr would like to develop a quickbooks style accounting & reporting platform that can be tied-in with third party vendor tools for the purposes of tax calculation and compliance.

Subledgr would also provide portfolio management and reporting features for working with multiple chains and accounts. We are inspired [and frustrated] by similar features from quickbooks/xero for web2 SME businesses. Following a style that is familiar to web2 users, this site will drive adoption of substrate-based tokens by making it easy to manage groups of wallets as a single fund.

Key deliverables

  • The MVP (Minimum Viable Product) Phase 1 of Subledgr's roadmap includes the following features:
    Report on all transactions/extrinsics: Subledgr will provide a report on all transactions and extrinsics that have occurred on the blockchain, giving users a complete view of their cryptocurrency activities.

  • Categories: Transactions such as transfers between accounts, staking rewards, bond amounts, and fees will be allocated based on the user’s defined Chart of Accounts. This will help users better understand and analyse their cryptocurrency activities.

  • Categorisation - the basic feature that enables “bank” reconciliation and subsequent reporting

  • Profit & Loss: Subledgr will produce a Profit & Loss report for a specified period (e.g. week, month, year), including information on the movement of tokens earned and spent, as well as changes in exchange rates (e.g. GBP/USD).

  • Exchange rates: integration with an oracle for exchange rates

  • Export to CSV/spreadsheet: Subledgr will allow users to export their data to a CSV or spreadsheet format. This will provide a basis for any tax reporting or other financial analysis.

Success Criteria

A user of the system will be able to execute the following processes:

  • Login, User management & password recovery
  • Create portfolio(s)
  • Add accounts to a portfolio
  • Review all transactions for the accounts from chain / indexer
  • Allocate transactions and fees to categories
  • Report on
    • Fund (Portfolio) Value
  • Extract transactions to CSV

Additional info


==> see original polkassembly posting and discussion here

==> LINK TO FULL PROPOSAL HERE

Polkassembly
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Status
Decision14d
Confirmation1d
Approved
Tally
98%Aye
50.0%Threshold
2%Nay
Aye
108.11K KSM
108109.77366694825 KSM
Nay
2.02K KSM
2020.429791433553 KSM
  • 0.0%
  • 0.0%
  • 0.0%

Threshold

Support
31.83K KSM
31827.780831551857 KSM
Issuance
0 KSM
Business
Metadata
Submission
0.033333333333 KSM
Bond: 0.033333333333 KSM
Decision
6.6666666666 KSM
Bond: 6.6666666666 KSM
Decision Period
14 days
(201,600 blocks)
Confirming Period
1 day
(14,400 blocks)
Enact
After: 100
Proposal Hash
0x0c71a25e044145ba08ecb1cafe20a2867b733a90a9d32e310049ce6a07545e32
Call
Table
Json
callIndex0x1203
sectiontreasury
methodspend
args
amount1430 KSM
beneficiary
idHyLisujX7Cr6D7xzb6qadFdedLt8hmArB6ZVGJ6xsCUHqmx
TimelineLatest activity undefined
2023-02-21 16:45:30
Submitted
Proposer
Track
Medium Spender
Proposal Hash
0x0c71a25e044145ba08ecb1cafe20a2867b733a90a9d32e310049ce6a07545e32
2023-02-21 20:45:54
DecisionStarted
2023-03-05 17:07:48
ConfirmStarted
2023-03-06 17:12:54
Confirmed
2023-03-07 17:15:54
Executed
result
ok
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