Contract operation & security
Further description of operation and security of the contracts. Please refer to the contracts overview for more information on these contracts.
In regards to the BELT token, it is important to distinguish between the CLAIMER and OWNER:
- [ONLY CLAIMER] claimInitialSupply(uint _amount)
- [ONLY OWNER] mint(address _to, uint256 _amount)
The CLAIMER is a team controlled wallet (EOA) that has the permission to claim the initial supply, which is 200,000 BELT Tokens. When this wallet claims this initial supply, the supply will be minted. Refer to the BELT token section for details on how this supply is/was used.
The OWNER is controlled by the MasterBelt contract. Rest assured, the team has no way to haphazardly Mint the tokens.
In regards to the MasterBelt Contract Write operations, it is important to understand what they do and how things are actually controlled. The two important write operations are:
- [ONLY OWNER] add(uint256 _allocPoint,IERC20 _want,bool _withUpdate,address _strat)
- [ONLY OWNER] set(uint256 _pid,uint256 _allocPoint,bool _withUpdate)
The "add" means that more staking pools can be added. The "set" means that the mining allocation rate per pool is set.
These are initially controlled by the team controlled wallet (EOA). When governance it set, however, this will fully be controlled through governance consensus.
In regards to the swap contract:
Note that there are KILLABLE functions and unkillable functions. While the team has permission over the KILLABLE functions, the "remove_liquidity" function cannot be stopped.
This means that whatever the case, users will always be able to remove the liquidity they added.
The OWNER permissions of setting the parameters (fees, buyback, etc) are currently held by a team controlled wallet (EOA). The burnt BELT will be transparently shown on the Belt.fi website.
When governance is set, these parameters will be changed through governance consensus.
There is a 24 hour timelock in place. Any changes to the contracts take 24 hours to be applied.
Last modified 9d ago