Overledger Network Treasury

The Overledger Network Ecosystem

Payment Channel Introduction

Quant Network has recently commenced the first phase trial of the Overledger Network (OVN). The Overledger Network is made up of many gateways. Each gateway connects and allows access to a resource such as a distributed ledger, data or API.

  • Treasury Factory Proxy: 0x4a42aa05fb7cd58e9e388c82ec11b811bdf5ada7
  • Treasury Deposit Proxy: 0xb60bc1b22f322a5ddc214f0d0fb14260746d50bb
  • Treasury Rulelist Proxy: 0x963e705d50bde3f21a03cacf03e045b3599568ca
  • Treasury Factory Proxy: 0x836fe8f597dc6cf4fb86bd3e86ad724dc4327560
  • Treasury Deposit Proxy: 0x83e9918ddee45a661a31a63474f864d77b156724
  • Treasury Rulelist Proxy: 0xff42f979d183c88e930bb07ab88ff1211679814b

Example 1: Developer to Treasury Payment Channel Creation

A new developer wanting to use the OVN, signs up at Quant Network’s dev portal, providing a QNT Wallet and operator address (step 1). To create a new payment channel with the treasury, the developer needs to approve (step 2) the Treasury Factory smart contract to take a certain amount of QNT and move it into the soon to be created Payment Channel, with a small additional amount to be moved into the developer’s Escrowed Deposit smart contract. This approval is a standard ERC20 smart contract request, and therefore recorded as a transaction on the Ethereum blockchain. This approval transaction is the only one in all of these examples that is sent from the Developer’s QNT Wallet address.

Example 2: Developer to Treasury Payment Channel Expiry

Every created Payment Channel and Escrowed Deposit smart contract locks up QNT until a certain time, after which the developer can reclaim the remaining QNT. We join this example after the expiration time (step 1).

Example 3: Treasury to Gateway Payment Channel Creation

A new gateway owner wanting to use the OVN, signs up at Quant Network’s dev portal, providing a QNT Wallet and operator address (step 1). To create a new payment channel with the treasury, the gateway owner needs to approve (step 2) the Treasury Factory smart contract to take an X amount of QNT (for the licence fee) as well as a Y amount of QNT (for the gateway’s staked amount). The X QNT is used to initially fund the Payment Channel, whereas the Y QNT will be moved into the Escrowed Deposit smart contract. This approval is a standard ERC20 smart contract request, and therefore recorded as a transaction on the Ethereum blockchain. This approval transaction is the only one in all of these examples that is sent from the Gateway owner’s QNT Wallet address.

Example 4: Treasury to Gateway Payment Channel Topup

When a treasury to gateway Payment Channel runs out of funds (step 1), it is the treasury’s responsibility to top it up, because the treasury is the designated sender of this channel. The treasury does this via an onchain transaction (step 2), which allows off-chain QNT payments to continue (step 3) and eventually this QNT is transferred to the gateway via an on-chain transaction (step 4).

Example 5: Treasury to Gateway Payment Channel Expiry

Every created Payment Channel and Escrowed Deposit smart contract locks up QNT until a certain time, after which the treasury and gateway operator can reclaim portions of the remaining QNT. We join this example after the expiration time (step 1).

Next Steps

To sign up for the Overledger Network, go to https://developer.quant.network/register.

Quant is committed to unleashing the power of systems that are as connected as the world we live in.