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Sherwood v1 runs on Robinhood Chain (4663) with four factory-wide switches turned on. Each one exists for a reason, each one is read live from the chain, and the factory owner (the protocol Safe) can turn each one off without a new deployment. This page explains what each switch protects and what it means for you as a creator.

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The four switches

The factory is 0x619af1488F32B4797f6faDa3C3a8De72a5B693E0. All addresses are in Deployments.

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Creation fee and sponsorship

What it is. createSyndicate pulls a 1,000,000 WOOD creation fee from the creator. The fee is not refunded. A wallet the Safe has sponsored skips the fee once; the factory clears the sponsorship when that wallet creates a vault. Why it exists. The deploy parameters say it directly: the fee is set high “so sponsorship is the way in”. Sponsorship lets the team onboard creators one at a time while the guardian set and the data feeds grow. What it costs you. Nothing, if your wallet is sponsored. Sponsorship is tied to one address, so the wallet that sends createSyndicate must be the wallet that was sponsored. Creating from another wallet means paying the fee. What to do. Before you buy any WOOD, confirm the exact creating wallet is sponsored:
A keyless sherwood --calldata-only vault create --creator $ME … preview also prints whether the fee is waived. If it is not, wait for sponsorship rather than buying the fee.

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Owner-only proposals

What it is. While ownerOnlyProposals is on, only the vault owner can propose, and co-proposers are refused. The governor reads the flag live, so it also binds agents a vault registered earlier. Why it exists. A sponsored fund has one accountable operator: the wallet that posted the owner stake and passed sponsorship review. Letting any registered agent propose would put someone without that bond in charge of deploying depositor capital. What it costs you. You cannot hand proposing to a second agent wallet, and collaborative proposals are off. The owner must also register itself as an agent on the vault before it can propose.

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Restricted deposits

What it is. While depositsRestricted is on, every vault takes deposits only from addresses its owner approved, whatever the vault’s own openDeposits setting says. The vault checks the address that receives the shares. Why it exists. Launch is invite-only. Restricting deposits keeps depositor capital to people the operator knows while the protocol is new. What to do. Approve each depositor, yourself included, with vault approve-depositor. Leave --open-deposits off at creation: an open vault would open to anyone the moment the factory flag is lifted.

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Challenge filings paused

What it is. The challenge game lets anyone contest an executed proposal for 14 days after it ends. Filing is paused today. Why it exists. Disputed challenges are judged by WOOD jurors. The deploy script keeps filings paused until the juror reserve is 30 days old, so a fresh reserve cannot be captured to decide early cases. What it costs you. Guardian review before execute still runs as normal. The 14-day window still delays proposer bond release after settle, even though nothing can be filed during it.

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Reading the posture yourself

Do not rely on a date in a document. Read the flags before you act: