🧭 Summary

This Bounty supports the full launch of W3PI Token Index, a new type of Programmable Index Product (PIP) built on Polkadot, combining decentralized asset exposure, legal protection for users, and upgradeable smart contract logic.

It includes:

- Full smart contract and front-end development of W3PI as a listed token.
- Setup of a Swiss GmbH as the technical and operational executor.
- Incorporation and initial endowment of a Swiss Trust, which will own the protocol and hold user funds separately from any private entity.

W3PI will be the first decentralized non-custodial on-chain index token that tracks a dynamic basket of ecosystem tokens using programmable, transparent rules.

🧠 What is W3PI?

- A Programmable Index Product (PIP) that functions like an ETF — but built with smart contracts.
- A listed token (W3PI) representing ownership of a basket of DOT ecosystem tokens (e.g. GLMR, ASTR, ACA, etc.).
- A smart contract that automates the selection, weighting, and rebalancing based on volume, market cap, and other rules.
- Assets held non-custodially, under legal protection via a Swiss Trust.
- Open for future upgrades and improvements.

🔍 Scope of Work & Deliverables

The bounty is divided into three categories:

🧪 A. Technical Development – W3PI Protocol

| Milestone | Description | Budget |
|----------|-------------|--------|
| A1 | Protocol architecture & JAM integration design | $25,000 |
| A2 | MVP smart contract on Paseo/OnPoP (indexing multiple tokens) | $15,000 |
| A3 | JAM-compatible mainnet contract with upgrade logic | $25,000 |
| A4 | W3PI Token implementation (mint/redeem logic) | $15,000 |
| A5 | Front-end dashboard (composition, returns, governance) | $10,000 |
| A6 | Testing, audit prep, developer docs, GitHub release | $10,000 |
| A7 | Deducted paid-in capital (B2) | - $22,000 |

Subtotal A: $78,000

🏢 B. Operational GmbH – Development & Maintenance

| Milestone | Description | Budget |
|----------|-------------|--------|
| B1 | Swiss GmbH incorporation (legal, notary, admin) | $12,000 |
| B2 | Paid-in minimum capital of CHF 20,000 required for Swiss GmbH formation | $22,000 |
| B3 | Contracts for contributors, IP & operational terms | $10,500 |
| B4 | Maintenance roadmap, open-source issue tracking | $11,500 |

Subtotal B: $56,000

Note: The paid-in capital (B2) of $22,000 remains fully available to the GmbH after incorporation and may be used to fund development activities. Accordingly, this amount will be deducted from future development expenses, effectively reducing the net funding required for upcoming technical development (A7).

🏛️ C. Swiss Trust – Legal Foundation & Long-Term Governance

📂 Legal & Administrative Setup

| Milestone | Description | Budget |
|----------|-------------|--------|
| C1 | Legal analysis, trust charter design, legal counsel | $12,000 |
| C2 | Trust incorporation and registration in Switzerland | $18,000 |
| C3 | Smart contract transfer & custody documentation | $12,000 |
| C4 | Compliance framework (reporting, tax, audit) | $10,000 |

Subtotal C – Setup Costs: $52,000

💼 Operational Trust Endowment

- Initial Trust Capital: $1,000
- Sustainability Provision: $15,000 ($1,500 per year for 10 years prepaid)

Subtotal C – Capital Endowment: $16,000

📊 Total Request

| Category | Amount |
|---------|--------|
| A. Technical Development | $78,000 |
| B. GmbH Setup | $56,000 |
| C. Swiss Trust Setup | $52,000 |
| C. Swiss Trust Endowment | $16,000 |
| Total | $202,000 USD (DOT equivalent) |

🧑‍⚖️ Curator Proposal

The curator will:

- Verify code deployments, audits, and GitHub releases.
- Confirm legal documents (e.g. notarized trust charter) via Swiss registry links.
- Trigger milestone payments based on proof of delivery.

⚙️ Governance & Ownership Model

- Upgradeable smart contracts with ownership held by a Swiss Trust
- Trust protects user funds from any private entity (e.g. VRCI Global)
- GmbH receives fees only from protocol fee wallet
- All code will be open-source

📜 Licensing & Transparency

- MIT or Apache 2.0 for code
- Links for legal documents

⏳ Timeline

9–12 months estimated completion

| Phase | Months |
|-------|--------|
| Design & Legal Planning | Month 1 |
| MVP & GmbH Setup | Months 2–6 |
| Mainnet + UI | Months 6–7 |
| Trust Finalization & Transfer | Month 8 |
| Audit & Final Reporting | Month 9–12 |

🗳️ Conclusion

This bounty will launch W3PI — the first programmable index product (PIP) on Polkadot.

It combines technical innovation, legal neutrality, and upgradeable, decentralized logic to deliver a trusted, open, and future-proof financial primitive.