Revolution is a set of contracts that improve on Nouns DAO. Nouns is a generative avatar collective that auctions off one membership, every day, forever. 100% of the proceeds of each auction (the winning bid) go into a shared treasury, and owning a Noun gets you 1 vote over the treasury.
Compared to Nouns, Revolution seeks to make governance token ownership more accessible to creators and builders, and balance the scales between culture and capital while committing to a constant governance inflation schedule.
The ultimate goal of Revolution is fair ownership distribution over a community movement where anyone can earn decision making power over the energy of the movement. If this excites you, build with us.
git clone https://github.com/collectivexyz/revolution-protocol.git && cd revolution-protocol
npm install -g pnpm
npm install turbo --global
pnpm install
Run tests for both Protocol Rewards and Revolution Contracts
turbo run test
Run tests in dev mode for a package w/gas logs
cd packages/revolution && pnpm run dev
Gas reports are located in gas-reports
Run the tests with and generate a gas report.
cd packages/revolution && pnpm run write-gas-report
Gas optimizations around the CultureIndex createPiece and vote functionality, the MaxHeap and buyToken should be prioritized.
Go into the Revolution directory (cd packages/revolution).
If slither . doesn't work, consider the following command:
slither src --checklist --show-ignored-findings --filter-paths "@openzeppelin|ERC721|Votes.sol|VotesUpgradeable.sol|ERC20Upgradeable.sol" --config-file="../../slither.config.json"Go into the Protocol rewards directory (cd packages/protocol-rewards).
If slither . doesn't work, consider the following command:
slither src --checklist --show-ignored-findings --filter-paths "@openzeppelin" --config-file="../../slither.config.json"Instead of auctioning off a generative PFP like Nouns, anyone can upload art pieces to the CultureIndex contract, and the community votes on their favorite art pieces.
The top piece is auctioned off every day as an ERC721 RevolutionToken via the AuctionHouse.
The auction proceeds are split with the creator(s) of the art piece, and the rest is sent to the owner of the auction contract. The winner of the auction receives an ERC721 of the art piece. The creator receives an amount of RevolutionPoints and a share of the winning bid.
The RevolutionPoints the creator receives is calculated by the RevolutionPointsEmitter. Both the ERC721 and the RevolutionPoints have voting power to vote on art pieces in the CultureIndex.
CultureIndex.sol is a directory of uploaded art pieces that anyone can add media to. Owners of an ERC721 or RevolutionPoints can vote weighted by their balance on any given art piece.
The art piece votes data is stored in MaxHeap.sol, a heap datastructure that enables efficient lookups of the highest voted art piece.
The contract has a function called dropTopVotedPiece, only callable by the owner, which pops (removes) the top voted item from the MaxHeap and returns it.
RevolutionToken.sol is a fork of the NounsToken contract. RevolutionToken owns the CultureIndex. When calling mint() on the RevolutionToken, the contract calls dropTopVotedPiece on CultureIndex, and creates an ERC721 with metadata based on the dropped art piece data from the CultureIndex.
AuctionHouse.sol is a fork of the NounsAuctionHouse contract, that mints RevolutionTokens. Additionally, the AuctionHouse splits auction proceeds (the winning bid) with the creator(s) of the art piece that is minted.
The creatorRateBps defines the proportion (in basis points) of the auction proceeds that is reserved for the creator(s) of the art piece, called the creator's share.
creator_share = (msg.value * creatorRateBps) / 10_000
The entropyRateBps defines the proportion of the creator's share that is sent to the creator directly in ether.
direct creator payment = (creator_share * entropyRateBps) / 10_000
The remaining amount of the creator's share is sent to the RevolutionPointsEmitter contract's buyToken function to buy the creator RevolutionPoints, according to a linear token emission schedule.
RevolutionPointsEmitter.sol is a linear VRGDA that mints RevolutionPoints when the payable buyToken function is called, and enables anyone to purchase RevolutionPoints at any time. A portion of value spent on buying the RevolutionPoints is paid to creators and to a protocol rewards contract.
The RevolutionPointsEmitter has a creatorRateBps and entropyRateBps that function the same as the AuctionHouse contract's. Whenever a buyToken purchase of governance tokens is made, a creatorRateBps portion of the proceeds is reserved for the creatorsAddress set in the contract, with direct payment calculated according to the entropyRateBps.
A fixed percentage of the value sent to the buyToken function is paid to the RevolutionRewards contract. The rewards setup is modeled after Zora's fixed protocol rewards. The key difference is that instead of a fixed amount of ETH being split between the builder, referrer, deployer, and architect, the RevolutionRewards system splits a percentage of the value to relevant parties.
The RevolutionPointsEmitter utilizes a VRGDA to emit RevolutionPoints at a predictable rate. You can read more about VRGDA's here, and view the implementation for selling NFTs here. Basically, a VRGDA contract dynamically adjusts the price of a token to adhere to a specific issuance schedule. If the emission is ahead of schedule, the price increases exponentially. If it is behind schedule, the price of each token decreases by some constant decay rate.
You can read more about the implementation on Paradigm's site. Additional information located in the Additional Context section of the README.
- Previous Nouns DAO audits:
- NounsDAOV2
- NounsDAOV3 (fork)
- Twitter: @collectivexyz and @vrbsdao
(properties that should NEVER EVER be broken).
For all contracts - only the RevolutionBuilder manager should be able to initialize and upgrade them.
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Only the owner should be able to directly mint tokens.
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Tokens cannot be transferred between addresses (except to mint by the owner). This includes direct transfers, transfers from, and any other mechanisms that might move tokens between different addresses.
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No address should be able to approve another address to spend tokens on its behalf, as there should be no transfer of tokens.
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Only authorized entities (owner) should be able to mint new tokens. Minted tokens should correctly increase the recipient's balance and the total supply.
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Voting power and delegation work as intended according to Votes without enabling any form of transferability.
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The RevolutionPointsEmitter and AuctionHouse should always pay creators (ETH or RevolutionPoints) in accordance with the creatorRateBps and entropyRateBps calculation.
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The AuctionHouse should always pay only creator(s) of the CultureIndex art piece being auctioned and the owner.
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The RevolutionPointsEmitter should always pay the
creatorsAddress. -
ETH and RevolutionPoints transfer functions are secure and protected with reentrancy checks / math errors.
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Anything uploaded to the CultureIndex should always be mintable by the RevolutionToken contract and not disrupt the RevolutionToken contract in any way.
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The voting weights calculated must be solely based on the ERC721 and RevolutionPoints balance of the account that casts the vote.
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Accounts should not be able to vote more than once on the same art piece with the same ERC721 token in the CultureIndex.
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Accounts can not vote twice on the same art piece.
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voteWithSigsignatures should only be valid for a one-time use. -
Only snapshotted (at art piece creation block) vote weights should be able to update the total vote weight of the art piece. eg: If you received votes after snapshot date on the art piece, you should have 0 votes.
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CultureIndex and MaxHeap, must be resilient to DoS attacks that could significantly hinder voting, art creation, or auction processes.
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An art piece that has not met quorum cannot be dropped.
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RevolutionToken should only mint art pieces from the CultureIndex.
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RevolutionToken should always mint the top voted art piece in the CultureIndex.
- AuctionHouse should only auction off tokens from the RevolutionToken.
- The owner of the auction should always receive it's share of ether (minus creatorRateBps share).
- The VRGDAC should always exponentially increase the price of tokens if the supply is ahead of schedule.
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The owner and creatorsAddress should not be able to buy tokens.
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The distribution of RevolutionPoints should be in accordance with the defined linear emission schedule.
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The RevolutionPointsEmitter should always pay protocol rewards assuming enough ETH was paid to the buyToken function.
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The owner should always receive it's share of ether (minus creatorRateBps and protocol rewards share).
The Points Emitter utilizes a continuous VRGDA (VRGDAC.sol) to enable RevolutionPoints purchases. Given an amount of ether to pay, it will return the number of tokens to sell (YtoX), and given an amount of tokens to buy, will return the cost (XtoY) where X is the RevolutionPoints token and Y is ether. The original VRGDAC implementation is here.
In order to get the amount of tokens to emit given a payment of ether (YtoX in VRGDAC.sol), we first take the integral of the linear VRGDA pricing function p(x).
Then - we can get the cost of a specific number of tokens (XtoY in VRGDAC.sol) by doing p_integral(x_start+x_bought) - p_integral(x_start) where x_start is the current supply of the RevolutionPoints token and x_bought is the amount of tokens you wish to purchase.
We can then solve for x_bought using a handy python solver to find YtoX, allowing us to pass in an amount of ether and receive an amount of tokens to sell.
The green line is the pricing function p(x) for a linear VRGDA. The red line is the integral of p(x), and the purple line signifies the amount of RevolutionPoints you'd receive given a payment in ether (YtoX). The relevant functions and integrals for the VRGDAC are available here: https://www.desmos.com/calculator/im67z1tate.