Security audit for collections royalties marketplaces

Voting ended over 4 years agoSucceeded

by 0x87956abc4078a0cc3b89b419928b857b8af826ed (Nacho)

Should the following Tier 4: up to $60,000 USD, 6 months vesting (1 month cliff) grant in the Platform Contributor category be approved?

Abstract

Support royalties for Decentraland collections on secondary sales.

Grant size

30,000 USD

Beneficiary address

0xBCAc4dafB7e215f2F6cb3312aF6D5e4F9d9E7eDA

Description

Based on the proposal passed here + some free time I took the chance to upgrade the implementation of the Marketplace & Bid smart contracts to include royalties for collection creators/item beneficiaries. It is ONLY IN POLYGON where UG collections are being created.

For the time being, royalties are going to be calculated following:

Each token is an item kind. You may know that each item can have a beneficiary which is used for primary sales. If the item has a beneficiary, the royalties will go to the item's beneficiary. If not.
Royalties will go to the collection creator.

The implementation of how the royalties receiver is calculated can be easily replaced by a new one. To understand how it can be done if you are tech, refer here

The royalty will be 2.5%.

The smart contracts still support the current fee for the DAO but is going to be 0%. I decided to keep it if for some reason we need to have something like 1% for the DAO and 1.5% for creators.

The Grant amount can change. I've set a cap. I'm still waiting for the auditors' quote.

Specification

The smart contracts are ready for being audited.

Both implementations are here for the marketplace and here for bids

The plan is to start testing the smart contracts within the Decentraland Marketplace ASAP. Once we can be sure that everything is working as expected and safe, launch it.

Personnel

@Nacho: Decentraland Evangelist

Roadmap and milestones

The roadmap for adding the royalties in the Decentraland Marketplace will be:

Audit the smart contracts
Deploy them in the Mumbai testnet.
Integrate the new smart contracts in the subgraphs & in the UI.
Deploy in Polygon.
Launch

Related to the topic for this Grant. The roadmap is just to pay for the audit of the smart contracts.

For integrating the smart contract in the Decentraland Marketplace I will require effort for the engineer team.

Vote on this proposal on the Decentraland DAO

Off-Chain Vote

yes

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Timeline

Nov 13, 2021Proposal created

Nov 13, 2021Proposal vote started

Nov 20, 2021Proposal vote ended

Oct 26, 2023Proposal updated

Description

For the time being, royalties are going to be calculated following:

Each token is an item kind. You may know that each item can have a beneficiary which is used for primary sales. If the item has a beneficiary, the royalties will go to the item's beneficiary. If not.

Royalties will go to the collection creator.

The implementation of how the royalties receiver is calculated can be easily replaced by a new one. To understand how it can be done if you are tech, refer here

The royalty will be 2.5%.

The smart contracts still support the current fee for the DAO but is going to be 0%. I decided to keep it if for some reason we need to have something like 1% for the DAO and 1.5% for creators.

The Grant amount can change. I've set a cap. I'm still waiting for the auditors' quote.

Roadmap and milestones

The roadmap for adding the royalties in the Decentraland Marketplace will be:

Audit the smart contracts

Deploy them in the Mumbai testnet.

Integrate the new smart contracts in the subgraphs & in the UI.

Deploy in Polygon.

Launch

Related to the topic for this Grant. The roadmap is just to pay for the audit of the smart contracts.

For integrating the smart contract in the Decentraland Marketplace I will require effort for the engineer team.