Hi, I am a lawyer specialised in Corporate law and currently working at the Investment Management practice at my firm, where - in short - we set up Funds.
Since college I have been a blockchain/cryptocurrency enthousiast. Therefore I am interested how I can apply blockchain/smart contract technology in my work (i.e come up with a amazing idea that would combine legal and blockchain/smart contracts).
I noticed that in fund documentation there are certain mechanics that in my opinion can be automated: drawdowns, clawbacks, distribution waterfall etc. A drawdown in short is a request by the manager of a Fund to pay part of your commitment. The Fund will request such part of the commitment generally shortly after closing (to pay expenses) and afterwards whenever it wants to invest (ie buy a company).
Wouldnt it be great to have the total commitment in a Defi-ish smart contract. Whereby the Manager can automatically drawdown the commitment whenever he pleases. Distributions will be paid on the defi account aswell with a clawback possibility written in the smart contract under certain circumstances.
It would limit the room for errors, would give the Manager more security that he will get paid whenever he pleases and possibly other (new) benefits for investors.
Hope I am making sense. Grateful to receive input on my written thoughts.
Other than that, I guess my main question is: ‘where do you start if I want to implement the aforementioned ideas?’. What would be a suitable defi/ smart contract project (on Ethereum)?