GenWealth Dey Test Crypto Inheritance for Cardano Without Sharing Seed Phrase

GenWealth invite Cardano users on November 5 make dem test how beneficiaries fit claim crypto from one vault using their own wallets. The application dey run for Preprod, one Cardano test network, and e allow participants try both sides of inheritance plan, from how to set distribution rules reach how to claim the assets. Beneficiaries go use the wallet address wey dey inside the plan and dem no need the owner seed phrase at all.

Owners Fit Set Beneficiaries and One Inactivity Deadline

GenWealth vault na smart wallet wey the owner dey manage through connected Cardano wallet. The inheritance plan go apply to assets wey dem deposit inside that vault. The app go give the vault one ID when the owner create am. Person fit use that ID import the vault if e no show inside the app.

Owners fit name up to nine beneficiaries and assign dem specific tokens or NFTs, one percentage of the remaining assets, or both. The percentage allocations must add up to 100%. Owner fit, for example, reserve one NFT for one beneficiary and split the remaining vault 60–40 between two people. If the NFT recipient still get percentage allocation, that person fit first claim the NFT then later claim im share from the remaining assets.

The owner still dey set how long the vault fit dey without use before inheritance fit start. Any time dem deposit or send assets through the vault, e go record new activity, and the owner fit update the deadline directly. Dem fit edit the plan before inheritance begin. According to GenWealth documentation, once inheritance don start for on-chain, person no fit cancel am.

Beneficiaries Go Claim Assets for Two Stages

The owner fit name one executor and give specific permissions, like to close DeFi position make assets dey available for distribution or to change selected inheritance settings. If the owner settings allow am, executor wey get authorization to trigger inheritance fit start the process earlier than the standard inactivity deadline. The executor go connect im own wallet and e fit only use the tools wey tie to im permissions.

Beneficiary go connect the wallet wey the plan name. If the vault no show, dem fit search by signing one message with that wallet or import the vault using im ID. The app fit show say beneficiary dey listed before any assets go dey available to claim.

Once inheritance start and the waiting periods wey apply don pass, beneficiaries fit claim the assets wey dem set aside for dem. After that, dem fit claim their percentage from the remaining vault when the second stage open. Each claim need separate wallet approval. If assets still remain unclaimed after additional period wey the owner set, GenWealth documentation talk say one designated community address fit receive dem.

[NEWSBREAK]

One Authorized Signature Fit Restore Control of the Vault

The separate recovery plan go allow owner assign new wallet to control the same vault if dem lose access to the original wallet. Owners fit designate up to five recovery addresses, including other wallets wey dem control or wallets wey belong to people wey dem trust. Once the recovery inactivity period expire, any one of those wallets fit authorize the change on im own. GenWealth documentation recommend make dem set shorter delay for recovery than for inheritance, so that the owner go get time regain control before distribution fit begin.

The public trial start October 26 with initial two week window. For im November 5 forum post, GenWealth indicate say e dey consider to extend the trial reach November 16. Participants dey use test ADA and other test tokens for Preprod. The team dey collect bug reports and feedback on where testers dey get stuck, including when dem switch from to set up plan to to claim assets as beneficiary.