Administration and trust
GAMA has one protocol owner and a few operator roles. This page lists what each of them can do, what nobody can do, and which powers you are trusting while the testnet runs on a single key. The addresses of every role are on Contracts.
Roles
| Role | What it does |
|---|---|
| Protocol owner | Changes settings for future launches, manages pair tokens, venues and keepers, can pause new launches, and holds the other powers below |
| Buyback operator | Starts GAMA buyback rounds and burns, within limits the buyback contract enforces |
| Payout operator | Runs automatic payouts of holder rewards, creator earnings and protocol revenue |
| Keeper | Fills limit and DCA orders, within each order's own terms |
| Treasury | Receives 70% of protocol revenue |
On the testnet the protocol owner is a single key. Ownership can be handed over in one step, and it can never be given up. The contracts cannot be upgraded or deleted. Every change the owner makes is a public transaction that emits an event, so you can see it on Gamascan. The team's own dashboard is private, holds no keys and cannot change anything by itself.
What the protocol owner can do
For future launches only
- Change the launch settings: the creation fee, the trading and platform fees within their caps, GAMA's share of the trading fee, the buy limits (off, or 0.5% to 100% of the supply) and the anti-snipe tax (on or off, at most 60 blocks).
- Approve, change, disable or re-enable pair tokens, set a manual graduation target, clear one again, and set the cap on converted targets, from 1% to 50% of a pair token's supply (25% today).
- Approve new trading venues and choose the venue for new launches.
- Pause and resume the creation of new launches. Existing launches, trading, graduation, payouts and claims keep working.
Live, for every launch of the release
- Add addresses to the buy-limit exemption list, or remove them. An exempt address can buy any amount on a curve.
- Add addresses to the fee exemption list, or remove them. An exempt address pays no launch fee when it trades directly on a curve or in a canonical pool.
- Switch the GAMA buyback and burn to another contract at once.
- Change the protocol split for revenue earned from then on.
- Replace a launch's creator recipient, after a public notice of three days and within the following three days. Anyone can carry out an approved replacement once the notice has passed; the owner can cancel it. The new recipient receives only future earnings.
- Stop an address from earning future holder rewards. Rewards it has already earned stay claimable.
- Change the payout settings and the payout operator, or switch automatic payouts off. The payout charge can never be more than 1% of a payment.
- Pause buybacks, change the buyback operator and the buyback settings within ranges the contract fixes (at most a 10% price rise per round and 50% in any hour), and set the treasury that receives other tokens from the buyback share.
- Change the treasury that receives rounding leftovers from graduations.
- Migrate a graduated launch's locked liquidity to an approved venue. See Migration.
- Switch on a DEX protocol fee of up to 0.1% on a GAMA DEX pool.
- Add or remove keepers on the order books.
What nobody can do
No role, including the protocol owner, can:
- change a launch's token, supply, details, curve, pair token, graduation target, fee rates, buy limits or mode after it is created;
- create more of a launch's token, freeze transfers or block a holder (the one transfer rule is that a launch token cannot go into a GAMA DEX pool before it graduates);
- withdraw a curve's backing or a launch's locked liquidity;
- take or redirect balances in the fee escrow: holder rewards, creator earnings and protocol revenue already credited stay with their owners;
- charge more than 1% of any automatic payment;
- stop trading on a curve or in an open pool;
- change an order's owner, recipient, route, amounts, price limits or end time, or take funds out of an order vault. Keepers can only fill an order within its terms.
Powers you are trusting
These powers matter if the owner key were misused or stolen:
- Venues. Approving a venue decides where locked liquidity could be moved to.
- Revenue. The protocol split can send future protocol revenue to any address.
- Payouts. Apart from the 1% cap on the charge, the payout settings, such as the smallest payment, have no upper limit. They can stop automatic payouts, never claims.
- Creators. A forced replacement redirects a launch's future creator earnings after the notice period.
- Buy-limit exemptions apply to existing launches. An exempt address can buy any amount on a curve.
- Fee exemptions apply to existing launches. An address that pays no fee can trade around another person's trade, or a buyback round, at a profit. The owner is meant to exempt only addresses the team controls or trusts.
- Buybacks. The owner can switch the buyback contract, raise its limits within their ranges, or change the treasury, all at once.
- Keepers. A listed keeper decides when an order fills. Even a compromised keeper cannot fill a market order outside the order's price band, slippage and 1% impact cap. See How orders fill.
Before mainnet
Before any mainnet release, control of the protocol moves from a single key to a multi-signature wallet with a time delay on changes. The signers and the delay have not been decided. A bug bounty is also required first; see Security and licences.