Making a Proposal
Once you are in the Proposal Dashboard you will enter essential information to propose your partner to create a Family Account.
Essential fields are:
The wallet address of your partner. You can enter either the wallet address of your partner or the partner's ENS name. Double-check the address, since you will not be able to change it later once the Account is created.
Enter an initial amount that will be deposited to your Family Account.
Enter your proposal message. This will send to your partner.
Within the Advanced Accordion you can setup important policies within your family account, namely:
Minimum period before Family Account can be terminated - is a parameter that defines a must cooldown period before any dissolution mechanisms can be triggered.
A minimum deadline for proposals is important to put limits on how fast proposals can be initiated and executed. This parameter while might slow down decision-making, can also provide security to Family members so that they are timely informed about the proposal and have time to think about it.
Your equity in the forthcoming Family Account is one of the most important parameters since according to this value all assets will be divided between partners in case dissolution is needed. This term has to be agreed upon between partners, and cannot be changed later.
We believe family partners need to have an equal share in family partnerships, thus we strongly recommend selecting a 50% share for each partner.
Once you press Continue, you will see a confirmation page. Carefully check the wallet address of your partner, initial deposit and other policies of your Family Account.
Carefully read the Policies of your Family Account since most of the parameters will not be possible to change later.
Once you press Confirm you will be asked to confirm the transaction.
The initial deposit will be indicated within the upper section and transaction fees in the middle. The total amount will be deducted from your wallet, thus make sure you have sufficient balance.
Normally the platform will redirect to your Dashboard, but since transactions are asynchronous you might need to press the green refresh button on the header section to reload your page.
Once your proposal is sent you will see your Dashboard. Here you can see your Family Account Address. You can also Share on Social Media about your proposal.
You can view your initial balance under the Family Crypto Assets tab.
You can cancel your proposal before your proposal has been responded to. Cancelling the proposal will return your initial deposit to your wallet. You can see information about your initial deposit in Family Crypto Assets Tab.
It is not recommended to send any native (ETH or MATIC), ERC20 or NFT assets to your Family Account's address before your proposal is accepted. Retrieving prematurely sent assets might cost additional gas fees in case the proposal is not accepted or declined.
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