System Architecture
Last updated
Last updated
The following are the system components that comprise the Televault protocol:
A protocol that allows the creation of ERC-721 or ERC-1155 tokens on a smart contract platform such as Ethereum containing addresses that can hold UTXO-chain assets based on the Torus Key Infrastructure and the Shamir Secret Sharing technique.
Also known as vTokens, they are ERC-20 tokens on the Ethereum network whose contracts are controlled by the Televault Broker for managing issuance and redemption. The total supply of each vToken should always correspond to the total coin balance of all escrowed curated Emblem Vault NFTs associated with that particular UTXO asset.
A decentralized autonomous organization that oversees the Televault ecosystem and is tasked with governing the protocol, ensuring the protocol’s security, setting issuance and redemption fees, approving proposed upgrades, and appointing addresses that are critical to the protocol such as the authorized appraiser or the contract pauser.
Entities appointed by the Televault DAO that provide a digitally signed appraisal of the amount of fungible asset contained in the Emblem Vault NFT being escrowed by a user. An Appraiser's address is designated in the Broker smart contract by the DAO, preferrably set up as a multi-sig account for enhanced security.
A smart contract on the Ethereum mainnet that can accept an Emblem Vault NFT, hold it in escrow, and issue tvTokens after verifying that the amount of the UTXO-based coin held in the escrowed Emblem Vault NFT as attested by the user matches the amount appraised by the designated appraisers.
A marketplace where escrowed Emblem Vault NFTs are listed ready to be exchanged for the associated tvToken. Only the Televault Broker is allowed to list on the exchange. When a user pays for an Emblem Vault NFT, the vTokens are transferred to the Broker and are subsequently burned.
