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@zoralabs/sparks-contracts

v0.2.2

Published

A new mechanism for minting on Zora.

Downloads

158

Vulnerabilities

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Links

Git

Maintainers

gilllogilllodanzoradanzorankiamilevnkiamilevtaayyohhtaayyohhmargalitmargalitkulkkulkkolberkolberismallcombeismallcombemrdainmrdaintbtstltbtstlj-sj-snguyensomniacnguyensomniaciainnashiainnashmattlenzmattlenz

Keywords

Readme

Zora SPARKS

A new mechanism for minting on Zora.

Background

Previously, collectors pass send a fixed value of ETH to mint on a creator's contract.

SPARKs are a new form factor of this value, represented as an 1155 token, enabling:

  • collectors to purchase the value of their SPARKs in advance, based on the current price of the SPARKs
  • collectors to use these SPARKs at a future time to mint a Zora Creator ERC-1155 NFT, regardless of if the price to purchase a new SPARK changes.

1 SPARK = 1 Mint

Design

The Zora SPARKs 1155 contract is an immutable ERC-1155 contract that allows for the minting and collecting of Zora Creator ERC-1155 NFTs using SPARKs.

SPARKs are ERC-1155s, with each token ID having a fixed value in ETH or ERC20 that can be minted at that ETH or ERC20 value. The owner of a SPARK can either redeem it or use it to collect a Zora Creator ERC-1155 NFT. When it is used to collect a Zora Creator ERC-1155 NFT, the SPARK is burned and the underlying value is distributed to a set of recipients in the form of fees and rewards, with the percentage split configured in the creator contract. When a SPARK is redeemed, the underlying value is distributed to a desired recipient, and the SPARK is burned.

The ZoraSparksManager is an administrated and upgradeble that contract controls which SPARK token id can be minted for each currency type, thus defining the current price for collecting a SPARK in that currency type.
While it controls the logic around which SPARKs can be minted, once a SPARK is minted, the corresponding value is deposited into the immutable ZoraSparks1155 contract; only the owner of the SPARKs can access the underlying deposited funds by redeming the SPARKs or choose to do with their SPARKs, and since that contract is immutable these rules could never change.

The ZoraSparks1155 and ZoraSparksManager contracts are deployed deterministically to the same address on all chains: