On Chain Billing
In Figment's On Chain Billing model, each party receives its accurate share on chain – without the need for
any accounting, invoicing or off chain payment. This is achieved using Figment’s audited and battled
tested fee splitting smart contracts while the assets remain in the customer’s control.
The validator's fee recipient address is the wallet that receives execution layer rewards. For off chain billing, this is generally equal to the withdrawal address, unless specified otherwise.
For on chain billing, we set the validator's fee recipient to a fee splitting smart contract which rewards pass through (but are not held as a balance) and are split N
ways. One fee splitter smart contract is deployed for each withdrawal address.
In the ETH API endpoints, you'll notice that for each validator, fee_recipient_address
is set to the fee splitter contract, net_fee_payout_address
is set to what the regular fee recipient would be (and is where the validator's net rewards are sent), and withdrawal_address
remains the same. Note that for a new withdrawal address, a new fee splitter contract will be deployed once the validator(s) for that address are funded, which means that the fee_recipient_address
will change even after you've called Create Validators and you should make sure to update it in your database.
Example
Here is an example of a three party split, where
- Fee splitter contract address is:
0xE9EB3EEFe4b71C4Ea991869C5B3AE6B3B7907f45
- Net fee payout address is:
0xe3e2ab62ae98a5fc599ff2dee0d9ea1a93b797fb
- Figment's address is:
0xeD488E6cc4B030eb5BfddE3227C3D5da2b9040E8
- Party 3's address is:
0xa1e3b3a77cf01cda4c5c20f88705c7512ceee1af
Updated 10 days ago