Futarchy Autonomous Optimizer (FAO)

This repository contains the smart contracts for the Futarchy Autonomous Optimizer token (FAO) and its sale mechanics. The codebase is implemented with Foundry and relies on OpenZeppelin libraries for security-reviewed primitives.

Contracts

FAOToken

• ERC20 token with burn support and AccessControl-based minting.
• Token name: Futarchy Autonomous Optimizer
• Symbol: FAO
• The deployer supplies an admin address that can manage the MINTER_ROLE.

FAOSale

A sale, treasury, and ragequit contract that manages ETH-for-FAO purchases and redemptions.

Key behavior:

• Sale phases
  • Starts with an admin-triggered two-week initial phase at a fixed price of 0.0001 ETH per FAO (whole token units).
  • Once the initial phase is finalized, pricing follows a linear bonding curve based on initial net sales.
• Token distribution per sale
  • 1.0x FAO to the buyer.
  • 0.5x FAO to the contract treasury.
  • 0.2x FAO to the configured incentive contract (optional).
  • 0.3x FAO to the insider vesting contract (optional).
• Ragequit
  • Users can burn FAO to redeem a pro-rata share of the contract's ETH balance and any configured ERC20 "ragequit" tokens.
  • Ragequits during the initial phase reduce the initial sale/tally to keep accounting accurate.
• Administration
  • Uses OpenZeppelin AccessControl; intended to be governed by a TimelockController.
  • Admin functions include starting the sale, configuring incentive/insider addresses, managing ragequit token lists, and withdrawing ETH/ERC20 (excluding FAO).

The FAO tokens minted to the contract itself, as well as the tokens minted to the incentive contract, and the insider vesting contract, are not counted in the ragequit pro-rata denominator. This, coupled with the intended usage of an OpenZeppelin TimelockController, ensures that buyers can withdraw the totality of funds during the timelock window, before any admin transaction is executed.

InsiderVesting

The InsiderVesting contract implements FAO insider vesting tied to objective, on-chain price milestones rather than time alone.

Key mechanics:

• 10 tranches, each representing 10% of all FAO ever received by the contract.

• Each tranche unlocks linearly over 365 days, but only while the market demonstrates price support at or above that tranche’s milestone.

• Price verification is entirely on-chain via 0.1 ETH bonds posted at fixed price levels (2×, 4×, …, 1024× the initial FAO sale price, starting at 0.0002 ETH/FAO).

• A tranche becomes active when a bond exists at its price or any higher level.

• Vesting uses the FAO total as of the previous poke(), preventing “back-vesting” when new tokens arrive.

• Only one bond per level; “dust” bonds automatically deactivate.

• Beneficiary-controlled: the beneficiary can self-update its address and can rescue non-FAO ERC-20s or ETH at any time.

• Designed to receive FAO automatically from the sale contract (no deposit function).

This mechanism ensures insiders vest only when the market shows real willingness to buy FAO at increasing price levels, creating a transparent, manipulation-resistant vesting schedule aligned with long-term value creation.

FutarchyLiquidityManager

• ERC20 share token (fLP) that holds and routes FAO + wrapped native liquidity.
• Seeded by FAOSale; when seeded, FAOSale automatically adds fLP as a ragequit token.
• Supports permissionless deposits and share minting, pro-rata redemption, and migration between spot/conditional venues.
• Conditional migration path uses futarchy router splitPosition/mergePositions/redeemPositions to route liquidity through YES/NO wrapped outcome pools.
• Includes owner-gated emergency controls with enforced exit delay.

FutarchyOfficialProposalSource

• Owner-managed source of a single official proposal at a time.
• Supports either manual settlement flagging or optional external settlement oracle.
• Resolves YES/NO pool addresses through an Algebra factory on Gnosis.

SwaprAlgebraLiquidityAdapter

• Adapter for Swapr V3 (Algebra) full-range liquidity positions.
• Manages one position per ordered token pair.
• Supports optional pool create+initialize on first mint (sqrtPriceX96) while preserving legacy add params encoding.

Development

The project uses Foundry. Install it via the upstream instructions if you don't already have forge available.

Build

forge build

Test

forge test

Gnosis fork check for proposal token wiring (FAO -> YES_FAO/NO_FAO):

RUN_GNOSIS_FORK_TESTS=true \
TEST_FAO_PROPOSAL=0x81829a8ee62D306e3fD9D5b79D02C7624437BE37 \
TEST_FAO_TOKEN=0x9494C281a02c9ae5f72b224B514793ad2DD8cA17 \
forge test --match-contract FutarchyProposalWiringForkTest

Format

forge fmt

Gas snapshots

forge snapshot

Gnosis Liquidity Stack Deploy

Deploy FutarchyOfficialProposalSource, two Swapr adapters (spot/conditional), and FutarchyLiquidityManager:

PRIVATE_KEY=0x... \
SALE_ADDRESS=0x... \
FAO_TOKEN_ADDRESS=0x... \
OFFICIAL_PROPOSER=0x... \
forge script script/DeployLiquidityStackGnosis.s.sol:DeployLiquidityStackGnosis \
  --rpc-url gnosis --broadcast

Optional env vars:

• STACK_OWNER (defaults to deployer; use timelock in production)
• WRAPPED_NATIVE (default WXDAI)
• SWAPR_POSITION_MANAGER (default Gnosis Swapr NFPM)
• ALGEBRA_FACTORY (default Gnosis Swapr Algebra factory)
• FUTARCHY_ROUTER (default Gnosis futarchy router)
• DEFAULT_TICK_LOWER / DEFAULT_TICK_UPPER (defaults to full range)

CLI Usage

The repository includes an interactive CLI (cli.sh) for interacting with deployed contracts on Gnosis Chain.

Prerequisites

• Foundry (cast command available)
• jq
• bc

Running the CLI

chmod +x cli.sh
./cli.sh

Deployed Contracts (Old Version, Gnosis Chain)

Contract	Address
FAO Token	0xb222e2a6E065c2559a74168eeAbA298af91b84B9
FAO Sale	0x460915528ce37EC66A26b98b791Db512BC62DC17

Menu Options

View Functions (read-only):

Option	Description
1	Sale Info - Shows sale timing, current price, tokens sold, funds raised
2	Token Info - Name, symbol, total supply
3	Contract Balances - xDAI and FAO held by sale contract
4	Check User Balance - Query any address for xDAI, FAO, and allowance
5	Calculate Buy Cost - Estimate cost for purchasing tokens

Write Functions (require private key):

Option	Description
6	Buy Tokens - Purchase FAO with xDAI
7	Approve FAO for Ragequit - Set token approval for burning
8	Ragequit - Burn FAO to receive pro-rata xDAI and ERC20s

Admin Functions:

Option	Description
9	Admin Menu - Set incentive/insider contracts, manage ragequit tokens, withdraw ETH, rescue ERC20s

Environment Variables

For write operations, you can set PRIVATE_KEY in your environment to avoid being prompted:

export PRIVATE_KEY=0x...
./cli.sh

If not set, the CLI will prompt for your private key when needed.

Repository layout

• src/FAOToken.sol: FAO ERC20 implementation with minting controls and burn support.
• src/FAOSale.sol: Sale/treasury/ragequit logic with bonding curve pricing and distribution.
• script/: Deployment and scripting utilities (if present).
• test/: Foundry tests.

Status

The repository currently focuses on the FAO token and sale contracts described above.

Site (static UI)

A minimal, static UI for fao.eth lives in /site. Open site/index.html directly or serve the directory with any static file server to view the stubbed sale and ragequit controls along with contract addresses and quick-start docs.