Skip to content

concept-note.md

Latest commit

 

History

History
34 lines (23 loc) · 2.46 KB

concept-note.md

File metadata and controls

34 lines (23 loc) · 2.46 KB

Liquid Splitter Concept Note

Based on the 0x Splits Liquid Split concept but expanded to work with any, and multiple, ERC721 and/or ERC1155 contracts. With Liquid Splitter there no need for each ERC721 or ERC1155 to be the split and will be compatible with any NFT Contract regardless of minter orgin or marketplace.

Overall, the Liquid Splitter allows for value, in ERC20, to be sent across any NFT collection to the NFT owners without the need to define % allocations or snapshot of

Concept

Rather than making the NFT contract (LS1155.sol) the split, the Liquid Splitter, as the split, will sit above the ERC1155 or ERC721 contract(s) (NFTContract) and will split ERC20 based across all accounts (unique list of NFT holders) based on percentAllocations. In Liquid Splitter, accounts are the total token supply of one or many NFTContract.

The Liquid Splitter can pay one NFTContract or pay multiple NFTContract in any combination: i.e. NFTContract 1 0xERC1155, NFTContract 2 0xERC721, NFTContract 3 0xERC721, NFTContract 4 0xERC1155, ....n. The Liquid Spliter would treat each NFTContract equally with no % allocation having to be set at createSplit. Split amounts are calculated without change to percentAllocations just a change to how accounts are calculated.

TODO

  1. solict feedback from Will, Abram, Sweetman, and others
  2. Rewrite or Substitute LS1155.sol to be the split
  3. Changes to LiquidSplit.sol distributeFunds to define accounts as sum tokens of NFTContract. Possibly no change to percentAllocations or updateAndDistributeERC20, just the accounts calculation.

Updates

4-26-24

from Splits team:

  • hooking up a mutable split to a 721 and making the 721 the controller would essentially turn any 721 contract into a liquid split, but the 721 would need a modifier
  • what 721 contracts actually generate enough value to distribute that value
  • 10k tokens is above Splits recipient threshold

TMO notes:

  • of note: open zeppelin repos ERC721Holder.sol and ERC1155Holder.sol (Tokenbound 6551 uses them in v3)
  • Liquid Splitter could have two delivery options: a) accounts - send to OwnerOf b) tokenboundAccounts - sends to ERC6551Account
  • add to TODO: 1155 would need to calculate across all tokenId's
  • re Splits comments: we have set out to change 721 use case and value. where is the friction on the limit? gas? compute? SplitsMain?