EIP-2535 | Diamond

Amplified's Diamond Standard Implementation: A Deep Dive into EIP-2535

Amplified prioritizes efficiency, scalability, and upgradability in its smart contract architecture. To achieve these goals, we've adopted the Diamond Standard (EIP-2535), a powerful design pattern for building modular and future-proof smart contracts on Ethereum. This article delves into the technical details of the Diamond Standard, its implementation in Amplified's Super Vault and Smart Contract Factories, and the numerous benefits it brings to our platform.

The Limitations of Traditional Smart Contracts

Traditional smart contracts on Ethereum suffer from inherent limitations:

• Size Restrictions: The Ethereum Virtual Machine (EVM) imposes a maximum size limit on deployed contracts, hindering the development of feature-rich and complex applications.

• Upgradability Challenges: Modifying deployed contracts is a complex and often risky endeavor, requiring the creation of new contracts and migration of data, potentially disrupting user experience.

• Code Organization & Readability: As contracts grow in size and complexity, maintaining code clarity, readability, and auditability becomes increasingly challenging.

Introducing the Diamond Standard (EIP-2535)

The Diamond Standard (EIP-2535) addresses these limitations by enabling the creation of modular smart contracts that resemble "diamonds" with multiple facets. Each facet represents a separate smart contract, containing specific functionalities, which are then linked to the central "diamond" contract.

This approach offers several key advantages:

• Circumventing Size Restrictions: By splitting functionalities into smaller facets, the Diamond Standard bypasses EVM size limits, enabling the development of more complex and feature-rich applications.

• Seamless Upgradability: Individual facets can be upgraded or replaced without affecting the entire contract system, minimizing disruption and enhancing long-term maintainability.

• Improved Code Organization: The modular design promotes code clarity, separation of concerns, and ease of auditability, as functionalities are neatly organized into separate, manageable units.

Amplified's Implementation: Super Vault & Smart Contract Factories

1. Super Vault as a Diamond:

Amplified's Super Vault leverages the Diamond Standard to enhance its flexibility and scalability. Instead of bundling all functionalities into a single monolithic contract, the Super Vault acts as the central "diamond," linking to various facets that handle specific tasks:

• Deposit & Withdrawal Facet: Manages user deposits and withdrawals, handling interactions with the underlying assets.

• Strategy Management Facet: Governs the deployment, execution, and monitoring of various yield-generating strategies.

• Reward Distribution Facet: Handles the calculation and distribution of rewards to users based on their participation.

• Governance Facet: Implements governance functionalities, enabling AMPL token holders to vote on protocol upgrades and parameter changes.

2. Smart Contract Factories for Efficiency:

Amplified utilizes Smart Contract Factories to streamline the creation and deployment of new facets and strategies. Factories are specialized contracts that automate the process of deploying new contracts based on predefined templates, enhancing efficiency and reducing the potential for errors.

Benefits for Amplified

• Unlimited Scalability: The Diamond Standard allows Amplified to scale its Super Vault and add new features and strategies seamlessly without encountering size limitations.

• Enhanced Upgradability: Individual facets can be upgraded or replaced independently, ensuring the protocol's long-term viability and adaptability to future DeFi innovations.

• Improved Security & Auditability: The modular design promotes easier auditing as each facet's codebase remains manageable, focused, and easier to verify for potential vulnerabilities.

• Accelerated Development: Smart Contract Factories streamline the deployment of new features and strategies, enabling faster development cycles and quicker responses to evolving market demands.