SPV Wallets & Distributions

  • Each SPV has an associated wallet address, which is a Splits contract.

  • This SPV wallet is indicated in the NFT metadata.

  • The Splits contract generated directs any funds sent to it to the corresponding 6551 wallets for NFTs minted as part of that SPV.

  • In the situation where there are any distributions, funds are ideally sent to the Splits address without any involvement of Venture Club, and claimed by NFT holders. However, there are some situations where this is not possible:

    • Tokens are vesting in a vesting contracts that requires wallets to "claim" tokens manually. In this scenario, an administrator is added to the Splits contract, which is responsible for claiming tokens for the Splits contract as they vest.

    • Distributions happen on another chain. In this scenario, a multisig will be created with syndicate members in order to get distributions sent to members.

    • Distributions happen in fiat. In this scenario, we will be working with a 3rd party to onramp funds to the right destination.

PreviousDeFi ComposabilityNextInvesting via Frames

Last updated