Architecture

Factory Contract

Responsible for deploying all relevant smart contracts that together enable OIVs (Rethink Fund Contract, Rethink NAV Calculator Contract, Safe Custody Contract, OZ Governor Contract, and Zodiac Roles Modifier).

Fund Contract

Rethink Fund Contract settles the deposit and redemption requests upon updated NAV calculation and automates fee distribution.

NAV Calculator Contract

Rethink NAV Calculator Contract calculates the net asset value (NAV) of all types of underlying positions:

• NAV Liquid Spot

• NAV Illiquid

• NAV NFT

• NAV DeFi Composable

It requires an approved NAV calculation method for each position.

Safe Contract

The Safe Core Contracts (aka. Smart Accounts) is the most trusted custody contract standard in DeFi. It's responsible for the custody of all underlying positions of an OIV. Operations execution is handled either through governance directly or delegated permissions for a manager through Safe Role Mod. The owner of the custody contract is a governance contract.

Governance Contract

Using Open Zeppelin Governor primitives for on-chain governance for a given OIV. The following parameters are governed through governance tokens.

Fee Parameters (upgradable)

• Management Fee

• Performance Fee

  • Hurdle Rate

• Entrance Fee

• Exit Fee

• Fee recipient address for every fee type

Deposits and Redemptions Parameters (upgradable)

• Whitelist

Governance Parameters (non-upgradable)

• Governance token

OIV token representing the value of underlying positions is recommended to be used for OIV governance token.

Alternatively, other tokens can be added as governance tokens controlling the OIV governance. This is especially useful in the context of existing DAOs looking to migrate their treasury to completely decentralized and non-custodial infrastructure.

• Voting delay (in blocks)

• Voting period (in blocks)

• Proposal threshold

• Quorum (%)

Zodiac Roles Modifier Parameters (upgradable)

• Manager address

• Target address

  • Associated permissions

Zodiac Roles Modifier

The Zodiac Roles Modifier enables to define roles with specific permissions and assign them to the Manager. These roles can independently interact with approved addresses, functions, and variables they've been given access to, bypassing default execution through governance. Permissions are delegated though governance.

Zodiac Pilot

Zodiac Pilot is a Chrome extension that enables users to simulate, record, and batch dApp transactions on behalf of an OIV. If Managers have all required permissions, Zodiac Pilot enables them to batch execute the transaction. Users without permissions can use Zodiac Pilot to create an OIV proposal.