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Simplify LAP royalty policy - unify royalty revenue receiver to being only the vault #216

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Spablob opened this issue Jul 16, 2024 · 1 comment
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enhancement New feature or request

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@Spablob
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Spablob commented Jul 16, 2024

Description and context

Revenue inflows are currently being split to different receivers depending on revenue category in the LAP royalty policy:

  • direct derivative revenue: is going to royalty token holders
  • non-direct derivative revenue: is going to IPA (nft holder) via receiving derivatives' RTs first

The simplification is meant to send both revenue categories to the same entity - the royalty token holders. It is simpler, more intuitive and concentrates value on the ERC20 tokens that are more composable in defi.

Suggested solution

To achieve this, LAP IP royalty vault will be adjusted to ensure that both revenue categories will be sent to the same entity while ensuring the basic principle of the LAP policy which is that ancestors receive a fixed % of final sales of any derivative and no more.

This means that:

  • derivative RTs, instead of going to IPAs, will go to ancestors' vaults
  • non-direct derivative revenue will not be claimable by ancestors vaults
  • direct derivative revenue will be claimable by ancestors vaults
@Spablob Spablob added the enhancement New feature or request label Jul 16, 2024
@Spablob Spablob self-assigned this Jul 16, 2024
@kingster-will
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Comment from Leo: Suggest to use a new policy to support this feature.

@kingster-will kingster-will transferred this issue from another repository Sep 5, 2024
@kingster-will kingster-will transferred this issue from storyprotocol/protocol-temp Sep 5, 2024
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