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Splits v2 is live

May 07, 2024
Picture of Sonya Mann
Sonya Mann
Feature image for https://splits.ghost.io/content/images/2024/05/possessed-photography-UA3R3P479i8-unsplash.jpg

We’re delighted to announce Splits v2, the second generation of our flagship smart contract for routing internet-native payments.

In the two years since Splits went live on Ethereum mainnet, we’ve learned so much from our users and their feedback. The ecosystem has evolved into a vibrant multichain multiscape, and Splits is evolving too.

Splits v2, audited by Zach Obront, is more flexible and robust than its predecessor. We redesigned our architecture from the ground up, decoupling the splitter logic from token storage and removing a number of legacy limitations. Devs will be able to customize the experience they offer to end users based on specific business needs, instead of the “one size fits all” mindset of Splits v1.

Today we’re introducing the results of our redesign: SplitsWarehouse, PullSplit, and PushSplit.

  • SplitsWarehouse is a generic token wrapper built on ERC6909 that can hold any native or ERC20 token on behalf of any recipient for any pull-flow payment. Think wETH but it wraps every token and is deployed to the same address on every chain. The contract is immutable and non-upgradeable.
  • PullSplit is the next iteration of our existing splitters, built on top of the new SplitsWarehouse. As with v1, distributions follow the pull-flow with the new SplitsWarehouse replacing SplitMain as the place where funds are held on behalf of recipients. As always, pull-flow payments offer a robust, consistent, and efficient onchain experience, particularly for users receiving from multiple splits.
  • PushSplit is a separate splitter implementation that pushes funds to end-recipients on distribution. It uses a generous gas-limit and falls back to depositing funds into SplitWarehouse for failed transfers, mitigating the costs adversarial recipients can impose on their peers.

Our new modular architecture has two big benefits:

  • SplitsWarehouse can be used by any third-party developers to make easy, secure, and efficient pull-flow payments without having to build out their own accounting, notification, and withdrawal UI.
  • We can offer and iterate on multiple splitter implementations in parallel to target different use-cases with different UX trade-offs for integrating developers.

The new contracts include some additional upgrades…

Warehouse:

  • Pull-flow distributions and recipient holdings are recognized by 6909-compliant wallets.
  • Third-party withdrawals may be paused or incentivized.
  • Recipients may program revenue with additional logic via approvals and operators.

Splitters:

  • Mutable Split owners now have full smart wallet capabilities, able to execute transactions and sign messages. (No change to the security model.)
  • Mutable Splits are deterministically deployed via CREATE2, allowing for counterfactuals and better cross-chain UX.
  • Recipient restrictions have been relaxed for better integrating DevEx: 1) You can deploy multiple immutable Splits with the same recipients. 2) Splits may have one or even zero recipients. 3) Recipient allocations may sum to arbitrary totals.

Overall, the new setup addresses a number of problems that arose over the past two years — from end users being confused by balance distribution, to the lack of ability to incentivize withdraws, and various other quirks and edge cases that frustrated the people who ran into them.

In the past it was hard to respond to feedback quickly, because to fix anything we had to deploy an entirely new system. Well, here’s that new system! Now you can design the payment flow that fits your precise use-case, unencumbered by defaults that don’t suit your situation.

Kick the tires

We hope you’re intrigued. As always, split.new is here for your convenience. Check out the Splits app, the docs, our SDK, or dive straight into the contracts repo.

If you’re a developer building something that relies on any kind of pull-flow, reach out via Farcaster or Discord. We’d love to chat.

Lastly, we’re also working on a new team-based smart account system, which will make it easy for onchain teams to manage their earnings across all chains at once. The MVP will use multisig wallets and passkeys to allow teams to operate safely cross chain without worrying about bridging funds between networks. Interested? Let’s talk! Or drop your info in this form.

Commemorative mint

As you may have gathered, we love the energy on Farcaster. We decided to celebrate v2 by experimenting with a community collaboration. Using Bountycaster, we found graphic designer Riham Dib, AKA @lambchop. She explored how to visually communicate the function of Splits — one income stream becoming multiple so that builders and creators can easily share the fruits of their labor.

Riham created an "oddly satisfying" animation that uses our logo to illustrate oscillating oneness and twoness — which is appropriate as we debut the second generation of the Splits smart contract suite.

Naturally we used Splits partner Zora to create the commemorative mint. Pick up your edition here:

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