Dissolution mechanisms

What is Dissolution?

One of the important features of the CryptoMarry Family Accounts is a dissolution mechanisms to resolve asset distribution between partners if the Family Account is being terminated.

Dissolution can be initiated by the partner only. There is a cooldown period that you have agreed before setting up the Family Account. This cooldown must pass before Dissolution mechanisms can be initiated.

Once the cooldown passed, the Dissolution can be proposed as described here. Once proposed, it is not possible to outvote (i.e decline) dissolution proposal. Other partner and Family members can vote shortly, and dissolution mechanisms can be initiated sooner.

If no one votes for dissolution proposal, there are 10 days after which Dissolution mechanisms can be triggered.

Dissolution mechanisms include immediate splitting native token (ETH or MATIC) between partners. ERC20 tokens and NFTs can be split as well, user should initiate separate transactions for that. These procedures can be initiated by any partner.

Each partner will receive respective amounts depending on the percentage share that was agreed before the family account was established. Thus, it is important for partners to discuss each partnership shares in advance.