Automate NNS Stake Spawn, Dissolve, Transfer to Exchanges

Access to the NNS and the process of staking, spawning new neurons, dissolving neurons and withdrawing ICP to a main account and then transferring to accounts like Coinbase where it can be liquidated might seem trivial to us. However, I assure you it is not trivial to the masses.

I think about what would happen to my investment if I passed. My spouse and offspring would struggle to understand how to navigate this environment and my staked neuron would likely sit gaining maturity indefinitely. Meanwhile my neuron continues to vote as a followee neuron yet no one in my family would ever benefit from it and my investment would go to waste.

How do we combat this oversight that might cause investors to shy away from staking and prevent the community from achieving 90% locked in staking?

Is it possible to create an RPA or any program that can execute instruction regardless of how the front end NNS dapp evolves? I almost think of the ability to do IFTTT instructions or perhaps this could be a set of smart contracts on another dapp that automatically execute these instructions within the NNS?

Something like…
If maturity reaches 1% then spawn neuron.
If new neuron is spawned then dissolve neuron automatically.
If any neuron is fully dissolved then transfer ICP to main account.
If main account has balance of greater than 1 ICP then transfer to designated exchange account (crypto.com, Coinbase, voyager, etc…)

It could potentially do other things to, such as constantly merge or perhaps conduct a preset timeline of instruction…such as…merge all maturity on a daily basis until Jan 1 2030. After Jan 1 2030 then begin the dissolving and transferring process I state above so that the ICP can go to an exchange account to be liquidated.

This method would prevent transferring ownership of the neuron to someone else which from what I recall is still a point of debate. However, it still ensures that the rewards can be passed on even if the staked neuron cannot be touched currently.

The benefit with this is that it mends the current gap that exist of transferring any sort of value to beneficiaries. In this case they would at least get the rewards as opposed to nothing.

The main exchanges have procedures that transfer ownership of the brokerage accounts to beneficiaries via probate or last will documents that name the beneficiaries. As long as the RPA, or smart contact or whatever we call it, is still in place automatically spawning, dissolving and transferring ICP to the designated crypto brokerage account, then this would ensure that the ICP rewards continue into the hands of the owner or beneficiaries thus keeping the fruits of the investment whole to the rightful owner and beneficiaries upon death of the original owner. One last point… if you lose your seed phrase and can’t access your neuron, this would still allow you to attain rewards if this automated process is put in place so long as you still have access to your designated brokerage account.

Who could build something like this? Could there be a governance proposal worked up that would enable this type of process? How would this get initiated? Does anyone think this would be good to have?

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I think many of the features you are suggesting are great ideas that likely need to be implemented by a 3rd party. It will happen eventually, but just hasn’t surfaced yet.

Neuron transfer to beneficiaries is an important consideration that needs to be worked out by Dfinity and incorporated into NNS governance. I wouldn’t want the transfer to beneficiaries to happen via 3rd party mechanisms to extract voting rewards layered on top of NNS governance. I’m pretty sure dfinity has this on their roadmap, but would love to hear someone from dfinity comment on scope and timeline.

I also think there are likely to be some NNS proposals that need to happen to enable some of these ideas to be implemented, but I’m not sure what they are right now. Hence, I think dfinity should have partial responsibility for implementation of these types of ideas, but most of them really require developers and entrepreneurs to scope and implement solutions.

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