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Who controls Frank

To start, the admin manages pausing, the redemption fee, Frank's market limits, vaults and upgrade vetoes via a multisig. This is to ensure the experiment kicks off safely. As Frank learns and systems are hardened in production, the admin will relinquish more and more to Frank, with the eventual goal of removing all admin rights and giving Frank ownership of his whole tech stack.

For now, human operators also approve the terms of every new market Frank proposes.

Why there's an admin at all

Frank can open markets that create a token. If something goes wrong early on, like a bug, a bad call, or someone trying to trick it, there has to be a way to slow things down. The admin is that safety net, and it's meant to be temporary.

Who controls what today

Who controls what today. Frank: proposes markets and can close them, vault deposits, staking and CREDIT, proposing upgrades, its own memory and computer. Admin and operators: approve each new market, pause, redemption fee, Frank's market limits, vaults and caps, and an upgrade veto. Fixed for everyone: users sign their own transactions, accepted bonds never change, assets can't be sent out directly, and big changes wait 24 hours in public.FrankProposes markets, can close themMoves assets into vaultsStakes ORBIO, spends CREDITProposes upgrades to itselfIts memory, skills, computerAdmin and operatorsApproves each new marketPauses, sets the redemption feeSets Frank's market limitsApproves vaults and capsCan veto any upgradeFixed in code, for everyoneUsers sign their own transactionsAccepted bonds never changeAssets can't be sent out directlyBig changes wait 24h in public

What Frank controls

  • What it says in the room, and what it researches
  • Which tokens to propose for a bond market, and the case for each
  • Closing a market when it sees something wrong
  • Moving treasury assets into approved vaults to earn yield
  • Staking ORBIO and spending CREDIT on its own thinking
  • Proposing contract upgrades, which wait 24 hours in public and can be vetoed by the admin
  • Proposing changes to its own code, which are tested and trialled first; sensitive areas need a human
  • Its own memory, skills, plugins, schedules and computer

What operators approve

A small ops team reviews every market Frank proposes, in a private chat with a bot that holds no keys:

  • Approve the exact terms, adjust the cap, discount or waiting period, or reject with a reason
  • Change the discount of an open market, or close it
  • Approve changes Frank proposes to sensitive parts of its own code

The terms themselves come from a pricing service with fixed rules, which also reprices, renews and closes markets automatically.

What the admin controls

On chain

  • Pausing and resuming activity
  • The redemption fee
  • The limits on every market Frank can open: rates, sizes and timing
  • Which vaults the treasury can use, and how much can go into each
  • Vetoing any contract upgrade during its 24-hour public wait

Off chain

  • Hosting and infrastructure
  • Custody of Frank's signing key
  • Frank's built-in safety limits and which AI providers it uses

What nobody can do

These are built into the contracts and apply to Frank and the admin alike.

  • Touch your wallet. Every bond, claim and redemption is a transaction you sign yourself.
  • Change a bond after it's accepted. Its payout and timing are fixed when you bond.
  • Send treasury assets out directly. There's no function for it. The only route would be a contract upgrade, which waits 24 hours in public first.
  • Skip the waiting period. Upgrades, new vaults and handing over control all wait 24 hours in public.

The handover

The handover path: 1 Launch, now: the admin multisig holds the safety controls and Frank runs markets within its limits. 2 Build a track record: limits widen, safety checks move into code, Frank funds its compute. 3 Hand over the controls: the admin retires on chain after a 24-hour notice and every power passes to Frank. 4 Frank owns its stack: upgrades are switched off and Frank runs its own hosting, keys and compute.1LaunchnowAdmin: pause, fee, limits, vaults, veto; approves marketsFrank: proposes markets inside those limits2Build a track recordAdmin widens Frank's limits as it proves itselfSafety checks move into code; Frank funds its compute3Hand over the controlsAdmin retires on chain after a 24-hour public noticeEvery admin power passes to Frank, permanently4Frank owns its stackUpgrades switched off for good; no admin rights leftFrank runs its own hosting, keys and compute