Skip to content

Latest commit

 

History

History
192 lines (132 loc) · 6.99 KB

README.md

File metadata and controls

192 lines (132 loc) · 6.99 KB
Raw

Open Dollar

Twitter: open_dollar

Template for projects using @opendollar/contracts with Foundry

Documentation

Governance

OpenDollar governance follows the common pattern of:

  • generating a governance proposal
  • submitting a governance proposal
  • queuing the governance proposal
  • executing the governance proposal

We include a set of governance scripts in script/gov which allow DAO members to propose, queue and execute different governance actions.

Governance CLI

yarn propose [action flag] [option flag] [path to input json]

All available flags can also be viewed with

yarn propose --help

The input for the proposal is a json file in the "gov-inputs/[network]" folder. You can find basic templates in these folders.

All JSON inputs have these required fields:

  • chainid: the chainId of the desired network.
  • network: the desired network to be submitted on.
  • proposalType: the type of proposal. This must be in camel case with the first letter capitalized e.g. "AddCollateral"
  • ODGovernor_Address: the address of the OD_Governor. if you don't want to enter this manually use the --auto flag.
  • description: a description of the proposal being made.

Contract addresses with the "_Address" suffix can be automatically added by the generation script with the --auto flag.

For example:

yarn propose -g --auto /gov-input/anvil/new-AddCollateral.json

will fill inProtocolToken_Address, ODGovernor_Address, SAFEEngine_Address, OracleRelayer_Address, LiquidationEngine_Address, TaxCollector_Address, GlobalSettlement_Address from script/anvil/deployment/AnvilContracts.t.sol

The output is always a JSON file which includes at least the following proposalParams:

{
    "proposalId": uint256,
    "targets": address[],
    "values": uint256[]
    "calldatas": bytes[],
    "description": string,
    "descriptionHash": bytes32
}

The JSON output may also include extra params for informative purposes and for execution params for the scripts themselves. Please do not alter the generated outputs in any way. This will invalidate the proposal.

Steps for submitting a proposal

  1. Fill in necessarry data in the input Json template.
  2. Generate the Proposal with
 yarn propose -g --auto /gov-input/new-ProposalType.json
  1. If you haven't delegated your tokens you can delegate to yourself with
yarn propose -d /gov-output/11111111-proposalType.json
  1. Commit and push your changes so someone else can use the generate script to with the same params to verify the output is correct.
  2. After Verification, Submit the proposal with
yarn propose -s /gov-output/11111111-proposalType.json
  1. Vote on a proposal with
yarn propose -v /gov-output/11111111-proposalType.json
  1. Queue a proposal with
yarn propose -q /gov-output/11111111-proposalType.json
  1. Execute a proposal with
yarn propose -x /gov-output/11111111-proposalType.json

note: If you want to use the --delegate flag to delegate your tokens, you must add the ProtocolToken_Address field to the input json, or use the --auto flag when generating the proposal.

Proposal Types

Add Collateral

Add a new ERC20 as collateral to the system.

Template: new-AddCollateral.json

Required json fields

  • newCollateralAddress: the token address of the proposed collateral to be added.
  • newCollateralType: the symbol of the collateral token e.g. ARB
  • SAFEEngineCollateralParams:
    • collateralDebtCeiling: RAD, The maximum amount of debt that can be generated with the collateral type
    • collateralDebtFloor: RAD, The minimum amount of debt that must be generated by a SAFE using the collateral
  • TaxCollectorCollateralParams:
    • stabilityFee: RAY, the per collateral stability fee.
  • LiquidationEngineCollateralParams:
    • newCAHChild: This will be automatically added in the generation script. you can leave this empty.
    • liquidationPenalty: WAD, Penalty applied to every liquidation involving this collateral type.
    • liquidationQuantity: RAD, Max amount of system coins to request in one auction for this collateral type.
  • OracleRelayerCollateralParams:
    • delayedOracle: Usually a DelayedOracle that enforces delays to fresh price feeds.
    • safetyCRatio: RAY, CRatio used to compute the 'safePrice' - the price used when generating debt in SAFEEngine.
    • liquidationCRatio: RAY, CRatio used to compute the 'liquidationPrice' the price used when liquidating SAFEs.
  • CollateralAuctionHouseParams: - maxDiscount: WAD, Maximum discount at which collateral is being sold - minimumBid: WAD, Minimum acceptable bid - minDiscount: WAD, Minimum discount at which collateral is being sold - perSecondDiscountUpdateRate: RAY, Rate at which the discount will be updated in an auction. This script proposes adding a new collateral to the system (deploys new contracts via the collateral join, collateral auction house factories and it adds the correct authorizations to the needed contracts).

Modify Parameters

Modify any parameters in a Modifiable.sol contract.

Template: new-ModifyParameters.json

Required JSON vars:

  • objectArray: each object in the array can be a param to be modified. Each object must contain:
    • target: the address of the target contract.
    • param: the name of the param to be modified.
    • type: the data type of the input data.
    • data: the input data. this can be a string, uint or an address. depending on the requirement of the parameter that is being modified.

Update PIDController Params

Update the redemption rate PI controller.

Template: new-UpdatePIDController.json

To update the PI controller you simply make a ModifyParameters proposal with all the PI controller params you would like to modify listed as individual params in the objectArray.

NOTE: see IPIDController.sol for more information about this.

ERC20 Transfer

Transfer ERC20 tokens from the TimelockController or any target contract.

Template: newERC20Transfer.json

You can propose multiple transfers in the same proposal by adding multiple transfer objects to the objectArray

Required json vars:

  • objectArray: each object in the objectArray is a proposed transfer.
    • erc20Token: the address of the token to be transfered
    • transferTo: the address of the token recipient
    • amount: the amount to be transfered in wei.

Add Nitro Rewards

Add rewards to the Camelot Nitro pool