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Foundry/Tokenomics Demo

Before We Start

Using:

  • slides
    • forge commands don't show the output well.
      • jq commands combined with sponge are used to output the contract addresses to the screen and changing the .envrc file.
    • Use Ctrl-E to run the bash snippets.
    • slides README.md to run the slides in the terminal.
  • direnv
    • direnv allow or direnv reload doesn't work directly when running slides.

Some Theory

Vesting

  • Gradual Token Release: Tokens are released over time, not all at once. | |
  • Encourages Long-Term Commitment: Stakeholders are motivated to stay with the project. | |
  • Reduces Market Risks: Prevents sudden sell-offs that can destabilize prices. | |
  • Builds Credibility: Shows transparency, attracting more investors and partners. | |
  • Flexible Schedules: Can include linear vesting or cliff vesting options. Tokenomics

Multi Sig Account

  • Multi Sig wallets are contracts. | |
  • We have N owners. | |
  • Each owner can create transactions
    • to execute them M owners have to "sign" it.

Pros

  • Shared Responsibility |
  • Adaptable to Team Structures |
  • Risk Mitigation
    • Reduced Risk of Human Error
    • Protection Against Threats:

Cons

  • Unavailability of Signers |
  • Multiple Points of Attack |
  • Hard to Manage |
  • Complexity in Interacting with Smart Contracts
    • Difficulty in Executing Transactions

Safe

There are two easy ways to deploy a multi-signature wallet. The hard way involves directly interacting with the contracts.

Safe CLI

Using Safe's CLI:

docker run -it safeglobal/safe-cli safe-creator \
https://ethereum-sepolia-rpc.publicnode.com \
$DEPLOYER_PRIVATE_KEY \
--threshold 1 \
--owners $DEPLOYER_ADDRESS

NOTE: It's interactive.

Safe Wallet APP

Using the web app:

Safe{Wallet} – Welcome

Demo FlowChart

  1. [Create Safe Wallet]
  1. [Create ERC20] -> [Mint to Safe Wallet]
  1. [Create Vesting Wallet]
  1. [Propose multisig TX sending some ERC20] from SAFE_WALLET to VESTING_WALLET
  1. [Release ERC20]

Vesting and Token Demo

Use the .envrc.example as template

cp .envrc.example .envrc

Initial SetUp

Set the env variables in the .envrc file:

  • DEPLOYER_PRIVATE_KEY
  • DEPLOYER_ADDRESS
  • SEPOLIA_URL

Set the Initial Supply for the ERC20

Set the env variable in the .envrc file:

  • INITIAL_SUPPLY

Apply the .envrc file

direnv allow

If changes are made, the variables have to be reloaded:

direnv reload

NOTE: If running it as a slide, you have to close and reopen the slide after running the command.

Deploy the ERC20 Token

Forge Script to Deploy

forge script script/Deploy.s.sol:DeployToken --rpc-url $SEPOLIA_URL --broadcast

Print the Contract Address

jq '.transactions[0].contractAddress' broadcast/Deploy.s.sol/11155111/run-latest.json | awk '{print "Contract Address: \033[0;32m" $0 "\033[0m"}'

Modify the .envrc file automatically

Use the output to set ERC20_CONTRACT_ADDRESS in the .envrc. The following command does this automatically:

awk -v new_value="$(jq -r '.transactions[0].contractAddress' broadcast/Deploy.s.sol/11155111/run-latest.json)" '/^export ERC20_CONTRACT_ADDRESS=/ {print "export ERC20_CONTRACT_ADDRESS=" new_value; next} 1' .envrc | sponge .envrc

Deploy the Vesting Wallet

Forge Script to Deploy

START_TIME=$(date +%s) forge script script/Deploy.s.sol:DeployVesting --rpc-url $SEPOLIA_URL --broadcast

Print the Contract Address

jq '.transactions[0].contractAddress' broadcast/Deploy.s.sol/11155111/run-latest.json | awk '{print "Contract Address: \033[0;32m" $0 "\033[0m"}'

Modify the .envrc file automatically

Use the output to set the VESTING_CONTRACT_ADDRESS in the .envrc. The following command does this automatically:

awk -v new_value="$(jq -r '.transactions[0].contractAddress' broadcast/Deploy.s.sol/11155111/run-latest.json)" '/^export VESTING_CONTRACT_ADDRESS=/ {print "export VESTING_CONTRACT_ADDRESS=" new_value; next} 1' .envrc | sponge .envrc

Check if the token can be released

echo $VESTING_CONTRACT_ADDRESS
cast call $VESTING_CONTRACT_ADDRESS "releasable(address)(uint256)" $ERC20_CONTRACT_ADDRESS --rpc-url $SEPOLIA_URL

Check balance

cast balance --erc20 $ERC20_CONTRACT_ADDRESS $BENEFICIARY_ADDRESS --rpc-url $SEPOLIA_URL

Release the tokens

cast send $VESTING_CONTRACT_ADDRESS "release(address)" $ERC20_CONTRACT_ADDRESS --rpc-url $SEPOLIA_URL --private-key $BENEFICIARY_PRIVATE_KEY

Check balance

cast balance --erc20 $ERC20_CONTRACT_ADDRESS $BENEFICIARY_ADDRESS --rpc-url $SEPOLIA_URL