ECIP-1112 · Protocol-Controlled Treasury

Olympia Treasury

A non-inflationary, immutable vault for Ethereum Classic protocol revenue. Receives EIP-1559 basefee, disburses funds only through on-chain governance.

Treasury Contract

0xd6165F3aF4281037bce810621F62B43077Fb0e37
View on ExplorerOlympiaDAO

Treasury Overview

The on-chain vault at the center of the Olympia upgrade. Endpoint for redirected basefee. Source of funds for approved public-goods proposals.

Protocol-Controlled

Owned by protocol rules, not a multisig or legal entity. No emergency keys, no privileged upgrade paths.

Non-Inflationary

Cannot mint ETC. Holds only what it receives from basefee redirection. Monetary policy unchanged.

Immutable Code

No proxy patterns, no admin methods, no upgrade keys. Contract behavior is fixed at deployment.

Fully Transparent

All inflows, outflows, and balances visible on-chain. Anyone can audit via block explorers.

From Fees to Public Goods

A clear line of sight from transaction fees to funded public goods on Ethereum Classic.

Step 01

Basefee Collected

Users submit transactions with EIP-1559-style fields (ECIP-1111). Miners receive block rewards and tips. Basefee is separated.

Step 02

Treasury Accumulates

Basefee is redirected by consensus to the Treasury contract. The vault accumulates protocol revenue over time. Balance and history are public.

Step 03

Proposals Submitted

Projects and contributors submit funding proposals through the process defined in ECIP-1114. Each proposal specifies recipient, amount, and milestones.

Step 04

Governance Approves

The Olympia DAO (ECIP-1113) reviews, votes, and authorizes eligible proposals. Only authorized governance calls can trigger fund releases.

Core Invariants

ECIP-1112 is built around strict invariants that give the treasury its security properties and make it acceptable as a protocol-level funding mechanism.

Invariant 1

No Minting, No Inflation

  • Cannot mint ETC — only holds what it receives
  • All balances derived from on-chain inflows and outflows
  • ETC supply governed entirely by existing block reward schedule
Invariant 2

Immutable Contract Code

  • No upgradeable proxy patterns
  • No admin-only methods to alter core logic
  • Long-term predictability for all stakeholders
Invariant 3

Protocol-Controlled, Not Multisig

  • Owned by protocol rules, not a wallet or legal entity
  • Wired directly into consensus rules
  • No emergency key that can bypass the DAO
Invariant 4

Minimal External Interface

  • Accepts protocol-directed inflows (basefee)
  • Executes payments when instructed by authorized governance
  • No proposal logic, voting, or business rules in the vault
Invariant 5

Transparent & Auditable

  • Full transaction history visible via block explorers
  • Simple read-only methods expose balances and history
  • Supports analytics and monitoring without special access

Separation of Concerns: ECIP-1112 treats the treasury as a pure vault. All politics, preferences, and participation rules live in the governance layer (ECIP-1113/1114), not in the contract that holds funds.

Mordor Contracts

Deployed contract addresses on Mordor testnet (chain 63). Mainnet deployment follows successful testnet activation.

Activation block: 15,800,850 (~March 28, 2026)

Treasury

ECIP-1112

Protocol-controlled vault for basefee revenue

0xd6165F3a...77Fb0e37

Governance NFT

ECIP-1113Pending

Voting power token for DAO participation

Governor

ECIP-1113Pending

On-chain governance and proposal execution

Timelock

ECIP-1114Pending

Time-delayed execution of approved proposals

Futarchy Oracle

ECIP-1117Pending

Prediction-market governance module

Governance Stages

The treasury is in Stage 1 — accumulate only. Governance layers are deployed progressively as each stage matures.

1

Accumulate

Active

Treasury receives basefee deposits only. No withdrawals. Builds protocol reserve while governance layers deploy and mature.

ECIP-1111ECIP-1112
2

Govern

Next

DAO framework activates. NFT-weighted voting on proposals. Timelock execution of approved transfers from treasury.

ECIP-1113ECIP-1114
3

Fund

Planned

Full proposal lifecycle: submit, review, vote, execute. Streaming payments with milestone-based release.

ECIP-1114ECIP-1115
4

Predict

Planned

Futarchy module enables prediction-market governance. Augments traditional voting with market signals.

ECIP-1117
5

Optimize

Planned

Sanctions defense, multi-chain bridging, and advanced allocation strategies become available.

ECIP-1118ECIP-1119ECIP-1120

Security Model

Security tied to Ethereum Classic itself. Node operators don't manage treasury keys — funds are controlled by protocol rules, not wallets.

Protocol Consensus

Client implementations enforce ECIP-1112 rules. Consensus ensures only authorized governance calls can move funds. Any change requires a new ECIP and network upgrade.

Contract Immutability

No proxy patterns, no admin keys, no upgrade paths. Built on OpenZeppelin v5.6. The treasury reduces reliance on trusted custodians — security depends on protocol correctness.

Sanctions Defense

Three-layer defense: OFAC screening at proposal level, transaction-level compliance checks, and emergency pause capability. Designed to satisfy regulatory requirements without compromising decentralization.