Sarcophagus Token (SARCO)
Table of Contents
A Decentralized Dead Man’s Switch
Sarcophagus is an autonomous, incentivized dead man’s switch dApp built on Ethereum and Arweave. It allows users to set instructions to be carried out by a smart contract if the user is incapacitated. An example use case is sending someone your coins after you die.
Sarcophagus launched its ERC-20 utility token SARCO in January 2021 and was one of the projects included in token sale platform CoinList’s spring 2021 seed batch, where CoinList promotes early-stage crypto projects that are not yet doing token sales.
How Sarcophagus works
The Sarcophagus protocol works by giving a person a series of actions to complete to verify they are alive. The deadman’s switch is triggered if the person does not perform the actions.
A user creating their “sarcophagus” provides the Ethereum address that accesses a file when the protocol is triggered. They also include a recipient’s public address and date at which to try opening the sarcophagus.
- Raised $5.47 million by selling DAO tokens to VCs [Jan 2022]
As of January 2022, I am not vested in the project but I find the use case interesting and adding it to watchlist to monitor. According to CoinMarketCap, it is only available on UniSwap (V2) which I have never used before.