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Global Governance
Parameters applied to all fractionalizations and controlled by NIFTEX DAO.
The NIFTEX smart contracts use a number of standardized parameters to perform their duties. These parameters are stored in the Governance (Governance.sol) contract, specifically in the _config mapping. When required, other contracts or modules call the mapping to retrieve a governance parameter's value.
The governance contract also whitelists modules and stores the addresses of the Module contracts that are allowed to interact with fractionalized NFTs in the _staticcalls mapping.
The governance contract is controlled by one or more addresses, who are allowed to change the governance parameters and allowed modules.
The current Governance contract is controlled by the NIFTEX team. Control will be handed over to a decentralized governance entity when ready.

Powers

  • Management of global defaults for parameters and modules via setGlobalConfig() and setGlobalModule().
  • Approval of new modules and global deprecation of old modules via the AccessControl library.
  • Management of global-only governance parameters and modules via setGlobalKey().
  • Disabling of modules for individual fractionalizations, if needed, via disableModuleForWallet().

Overridable Global Governance Variables

Global Governance provides defaults for these variables but they can be overridden via Local Governance.
  • ACTION_AUTH_RATIO
    • Used in the Action Module. Determines the minimum amount of fractions required to participate in NFT Governance.
  • ACTION_DURATION
    • Used in Action Module. Determines the length of the period during which a proposed Action can be rejected.
  • AUTHORIZATION_RATIO
    • Currently not in use.
  • BUYOUT_AUTH_RATIO
    • Used in the Buyout Module. Determines the minimum a mount of fractions to participate in a Buyout.
  • BUYOUT_DURATION
    • Used in the Buyout Module. Determines the duration of the buyout.
  • CURVE_TEMPLATE
  • LIQUIDITY_TIMELOCK
    • Used in the Bonding Curve. Determines the time that the creator of the fractions will have to lock some of the proceeds from distribution sales.
  • PCT_FEE_ARTIST
    • Used in the Bonding Curve. Determines the trade fee for the artist who created the NFT. Only applies to artwork NFTs.
  • PCT_ETH_TO_CURVE
  • PCT_FEE_SUPPLIERS
    • Used in the Bonding Curve. Determines to trade fee for liquidity providers.

Global-only Governance Parameters

These are parameters that cannot be overriden by Local Governance.
  • ALLOW_GOVERNANCE_UPGRADE
    • Determines whether wallets are allowed to set up their own governance.
  • PCT_FEE_NIFTEX
    • Used in the Bonding Curve. Determines the trade fee for the network operator
    • Currently disabled.
  • PCT_SHARDS_NIFTEX
Last modified 7mo ago