3. Smart Contract Architecture

This section describes the Guild’s current smart contract architecture. You can learn more about the pilot’s architecture here.

Contract

Address

ENS

Note

Vesting

0x25941dc771bb64514fc8abbce970307fb9d477e9

vesting.theprotocolguild.eth

Default donation address for Protocol Guild

Pass-Through

0x2E1A2823B6e65e6AC46BaD6e0Cc4096976Fc265E

ptw.theprotocolguild.eth

Used by DAO to trigger arbitrary calls on tokens that have finished vesting

Split

0xd4ad8daba9ee5ef16bb931d1cbe63fb9e102ec10

split.theprotocolguild.eth

Onchain membership registry for distributing vested funds to the membership

DAO

0x412a32dd71357bd12337f4408168df903f90cbd3

dao.theprotocolguild.eth

DAO containing all Protocol Guild members

Mainnet Multisig

0x3250c2CEE20FA34D1c4F68eAA87E53512e95A62a

-

Used when mainnet donations need to be claimed (e.g. Octant)

Arbitrum Multisig

0x32e3C7fD24e175701A35c224f2238d18439C7dBC

-

Default donation address on Arbitrum

Base Multisig

0x32e3C7fD24e175701A35c224f2238d18439C7dBC

-

Default donation address on Base

Optimism Multisig

0x32e3C7fD24e175701A35c224f2238d18439C7dBC

-

Default donation address on Optimism

Polygon Multisig

0x32e3C7fD24e175701A35c224f2238d18439C7dBC

-

Default donation address on Polygon

Zora Multisig

0x32e3C7fD24e175701A35c224f2238d18439C7dBC

-

Default donation address on Zora

Protocol Guild uses smart contracts created by Splits to trustlessly manage the vesting and distribution of donated funds. All donations pass through a 4-year vesting contract on mainnet, which vests funds into a pass-through wallet, which in turn sends funds to a split contract for distribution to the membership.

The split contract itself also serves as the Guild’s onchain membership registry of Ethereum’s active L1 R&D maintainers, while a Moloch v3 DAO is used to ratify changes to the membership onchain.

3.1 Modules

The Guild’s smart contract architecture is modularized as follows:

OnchainArchitecture

Vesting Contract

The Guild’s donation address is an immutable vesting contract which irrevocably vests donated funds on a linear, block-by-block, basis over 4 years. Here, “irrevocably” means donations cannot be stopped or otherwise redirected during the vest by anyone, be it the donor or Protocol Guild membership.

Anyone can donate ETH and ERC-20 tokens to the vesting contract on mainnet.

NFT donations are not supported - standard NFT transfers (safeTransfer) will be rejected by the contract (i.e. meaning the transaction will fail), while non-safeTransfer NFT donations will be lost.

How it works:

  • Donated tokens will accrue in a per-asset queue until a vesting stream is started for that batch of tokens, by triggering the startStream function (permissionless, as in any actor can trigger this function, regardless of whether they are a Guild member)

  • Once the vesting stream is started, the tokens will vest linearly over 4 years, and anyone can permissionlessly trigger releaseStream to push any vested tokens into a pass-through wallet (this must be done per vesting stream)

All donated tokens are thus forced to vest - there is no way to do anything with them until they are vested into the pass-through wallet.

Pass-Through Wallet

All funds from the vesting contract go into a pass-through wallet (PTW), which pools vested tokens to be pushed to the split contract.

The PTW allows the Guild’s membership to make arbitrary calls with vested tokens if needed, since the current split contract does not have arbitrary call functionality. For the avoidance of doubt: the PTW can only be used to interact with tokens which have already finished vesting. Tokens still vesting in the vesting contract cannot be prematurely interacted with.

How it works:

  • The PTW has a permissionless passThrough function, which allows anyone to push vested funds accumulated in the PTW to the contract’s passThrough, which is set to the Guild’s split contract, 0xd4aD8dAbA9eE5ef16Bb931d1CbE63fb9e102eC10.

  • The PTWs owner (the Guild’s multisig), can pause / unpause the contract by changing the the paused value, allowing the owner to move specific tokens using arbitrary calls instead.

  • The PTW owner can also update the passThrough recipient if needed e.g. if the Guild migrates to a different split contract in the future

Split Contract

The split contract contains all Guild members’ addresses and their respective share of vested funds (based on the time-weight formula).

Unlike the vesting contract, the split contract is mutable, as it needs to be updated quarterly to reflect changes to the membership (i.e. members being added or removed), as well as to update member weights over time.

How split distributions work:

  • The distribute function allocates tokens in the split contract to Guild members according to their weights (it does not move the funds into the member wallets)

  • Once distribute has been triggered, members can trigger the withdrawForMyself function to deposit tokens into their wallets

How split updates work:

  • Membership changes are ratified once a quarter with a vote in the Guild’s Moloch V3 DAO, where new members are added / old members are removed in an onchain “Signal Proposal”

  • Once the DAO proposal is executed, the Guild’s 6/10 multisig exports the offchain membership registry (with member addresses and weights), and uploads it as a CSV into the split contract to update it

Moloch v3 DAO

The Guild uses DAOhaus’ Moloch V3 contracts for onchain governance. The DAO includes all Guild members, with one person one vote, including vote delegation.

The DAO does not keep track of member weights, nor does it hold any funds. Currently, it is only used to ratify changes to the membership onchain. These changes are then processed by the Guild’s multisig (by updating the split contract).

Proposal flow:

  • Once a quarter, “Signal Proposals” are used to ratify changes to the membership onchain, which adjusts the DAO’s members in bulk (i.e. adding and removing members)

  • All proposals need to be sponsored by a DAO member before the voting period starts

  • The voting period lasts 5 days, with a 33% quorum required for proposals to pass

  • Proposals that reach quorum have a 2-day grace period before they can be executed

Multisigs

The Guild has deployed 6/10 Safe multisig contracts to control the PTW and split contract, and to claim funds on mainnet (which cannot be sent to the vesting contact directly). Multisigs are also used to receive donations on L2s, and then bridge those funds to mainnet.

The multisigs’ signers are not disclosed publicly, and are rotated regularly.

The aim is to reduce reliance on multisigs over time, to replace them with the DAO or other more trustless alternatives as the become available.

3.2 Future Updates

Work is already underway on future iterations of the Guild’s smart contract architecture, to remove trusted components, manual input and offchain dependencies. The current modular architecture allows for these updates to be implemented in a gradual and secure way as and when ready. This documentation will also be updated at such time to reflect the changes being made.

If you would like to help shape the future of the Guild’s smart contract architecture, please reach out on our Discord!