Contract Governance

Architecture

ElementEx is implemented as an upgradeable proxy, it proxies all logic to the ERC721OrdersFeature/ERC1155OrdersFeature implementation contract, but storage values and status for them.

Contract Governance

Governance

Element Contract is under governance of Timelock Controller and Multi-sig Wallet.

Timelock Controller

Element's Timelock is a smart contract that delays function calls from multi-sig smart contract after 5 days has passed.

Multi-Sig Wallet (Phrase1)

Multi-Sig Wallet is a smart contract controlled by 5 member, the members are from core team and investors. Each proposal must be agreed by at least 3 member, the transaction will queued to timelock controller, after 5days, it will send to ElementEx for final execution.

ElementDAO (Phrase2)

Element will eventually turn to DAO governance. Each proposal are vote by every token holder.