On-chain Agents

The modularized contributions from individual contributors necessitate a coordinated effort to combine these diverse inputs. Our protocol agents in collaboration with other protocol components, connect various modules to generate functional outputs for VIRTUALs SDKs.

On-chain Protocol Agents and Their Functions

1. On-chain Governance

   Tally, an on-chain DAO governance platform is used to create Protocol DAO and VIRTUAL-specific DAO to facitate proposal votings.

   • Each DAO is created based on different consensus mechanism such as Quadratic Voting for Protocol DAO and DPos for VIRTUAL-specific DAO.

   • Votes submitted for each proposal created with Tally will be recorded on-chain. Successful proposals will trigger the appropriate execution of smart contracts through Tally.

2. VIRTUAL Factory

   Deployed as the Master Smart Contract to orchestrate all operations related to VIRTUAL.

   • Application of Genesis VIRTUAL: Store deposits and create proposals related to new VIRTUAL on Tally.xyz

   • Minting of Genesis VIRTUAL: Mint a new ERC 721 under the DAO wallet to represent an on-chain representation of a new VIRTUAL.

   • Initial Stake for Genesis VIRTUAL: Stake the initial deposit received on behalf of staker into the newly created VIRTUAL.

   • Registration of Genesis VIRTUAL: Register Genesis VIRTUAL with Virtual Registry.

   • Creation of Genesis VIRTUAL Smart Contract: After successful approval for a new VIRTUAL via DPos, new smart contracts are created for VIRTUAL-specific validation.

3. VIRTUAL Registry

   Register a new ERC-6551 address for each new VIRTUAL and Core for the proper management of Contribution Submission and on-chain model storage.

   • Every VIRTUAL will be registered under the Token-bound Account (TBA) Registry for a new ERC-6551 address and stored in the ICV.

   • Subsequently, token-bound accounts will be created for their respective Cores.

4. Contribution Factory Orchestrated by Contribution Helper, several on-chain activities will be performed.

   • Register a Contribution: After successful verification, a Contribution NFT is minted, representing the work on the blockchain with detailed metadata. The NFT is then assigned to the Contributor, signifying ownership and completion of the registration process.

   • Proposal Creation: Create proposal related to the new contribution on Tally.xyz

   • Register a Successful Contribution: Upon decentralized governance approval of a work, the metadata of the corresponding Service NFT associated with the Core will be updated, along with the checkpoints.

5. VIRTUAL-specific Staking Contracts

   • Stake $VIRTUAL: This feature allows stakers to stake $VIRTUAL in VIRTUAL.

   • Delegate: Stakers have the option to delegate their voting power to any Validator.

   • Whitelist Validator: Validators who are verified and approved will be whitelisted to become VIRTUAL Validators and will have the rights to vote on any VIRTUAL-specific proposals.

6. Revenue Factory

   Serves as the main block to distribute rewards for all parties.

   • Record the reported revenue and distribute rewards to the related parties based on the agreed distribution mechanism