Settlus Smart Contracts

Introduction to Settlus Smart Contracts

Settlus leverages the power of smart contracts to provide a robust and efficient infrastructure tailored for the creator economy. These smart contracts handle essential operations like managing tenants, recording transactions, facilitating payouts, and handling refunds. The design ensures transparency, automation, and flexibility for various use cases.

The Settlus Smart Contracts are currently under development, and their architecture is built with the following key features:

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Key Features of Settlus Smart Contracts

1. Tenant Management

• Manage Tenant: Manage creation and deletion of individual tenants, and store the information of tenants.

• Update Tenant's Admin: Enables updating the administrative rights for a tenant, ensuring proper governance and access control.

2. Transaction Recording

Record Process

• Record Off-Chain Transactions (UTXRs):

  • Supports recording of off-chain transactions for payouts to creators.

  • Tracks essential details such as the recipient, amount, and associated metadata.

• Cancel UTXRs:

  • Provides functionality to cancel UTXRs, facilitating refunds in cases of errors or disputes.

UTXR status

3. Payouts

• Redeem UTXRs:

  • Handles the redemption of eligible UTXRs across the tenants, automating payouts to creators in a secure and timely manner.

4. Modular and Extensible Design

• Settlus contracts are modular, allowing developers to extend or customize functionalities as required.

• Integration with ERC20 and ERC721 standards ensures compatibility with tokens and NFTs.

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Smart Contract Architecture

Tenant Contract

The Tenant contract is at the core of managing entities (tenants) on Settlus. Key functionalities include:

• Recording and tracking UTXRs for off-chain transactions.

• Managing payout schedules and automating settlements.

• Enabling refunds through UTXR cancellation.

• Access control over managing tenant.

TenantManager Contract

The TenantManager contract oversees tenant creation and management:

• Facilitates the creation of tenants with customizable configurations.

• Allows the creation of mintable token contracts linked to tenants.

• Supports batch settlement of payouts for multiple tenants.

How It actually Works

Settlement Process

• Every block, an external Settler daemon checks if any Tenant requires settlement.

  • A Tenant requires settlement if it holds UTXRs (Unsettled Transaction Records) that have passed their payout period.

• If any Tenant requires settlement, the Settler calls the settleAll function to process and settle eligible UTXRs.

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Benefits for the Creator Economy

1. Transparency:

   • All transactions and payouts are recorded immutably on the blockchain, ensuring trust and accountability.

2. Automation:

   • Smart contracts automate repetitive tasks like recording transactions, handling payouts, and managing refunds, saving time and resources.

3. Flexibility:

   • The modular design supports a variety of use cases, including token-based payments, NFT integration, and programmable revenue sharing.

4. Scalability:

   • Designed to handle large-scale operations, the contracts support batch processing and settlement for multiple tenants simultaneously.

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Looking Ahead

The Settlus Smart Contracts are a foundational component of the platform, designed to evolve alongside the creator economy. Future updates will enhance functionality, introduce new features, and further optimize performance.

Dive deeper into the specific implementations in our Developer Guide, or explore the contract APIs and usage examples in the Technical Reference.