Smart Contract Architecture
Axiom is composed of several smart contracts, each with a clear and isolated role. This modular design makes the system more secure, more upgradeable, and easier to reason about.
Vaults (XRPVault and future stablecoin vaults)
Responsible for:
Accepting deposits
Minting non-transferable share tokens (aXRP)
Burning shares on withdrawal
Increasing share price as yield accrues
Enforcing resolution locks
The vaults follow a modified ERC-4626 pattern for predictable, fair accounting.
Eligibility Registry
Responsible for:
Snapshotting staker USD values
Sorting stakers by percentile
Defining the top 50 percent
Providing Merkle proofs for eligibility
Supporting fraud proofs during decentralized operation
The system uses an optimistic off-chain Merkle snapshot model with on-chain verification if challenged.
MarketFactory
Responsible for:
Creating new markets
Verifying top 50 percent eligibility (post-bootstrap)
Deploying the TieredParimutuelMarket contract
Managing upgrade paths for future mechanism types
The MarketFactory is upgradeable, allowing governance to introduce new trading mechanisms later without disrupting existing markets.
TieredParimutuelMarket
Responsible for:
Accepting bets
Applying time bonuses
Tracking weighted shares
Displaying implied odds
Enforcing no early exits
Closing markets at event end
Tracking real prize pool vs virtual seed
This is the core trading experience for users at launch.
MarketResolver
Responsible for:
Accepting proposals
Starting challenge windows
Handling voting and escalation
Applying penalties and rewards
Finalizing outcomes
Triggering payout availability
Resolution is designed for both speed and accuracy, with optimistic resolution for uncontroversial markets and escalation for contested ones.
FeeRouter
Responsible for:
Routing commissions to vaults and the dev treasury
Distributing market creator quality bonuses
Paying proposer consensus bonuses
Splitting yield across vaults based on 7 day TVL averages
The FeeRouter ensures that Axiom Prime earns yield directly from Axiom Markets.
Last updated