💾Parameters

Overview of governance parameters.

Holders of Governance Tokens have immediate and irrevocable control over:

• Allocation of the community treasury

• New token listings on the Protocol

• Risk parameters for the Protocol

• Capital allocations to market makers in the liquidity staking pool

• Addition of new market makers to the liquidity staking pool

• Determining safety staking pool payouts in the event of a loss

• Changing any of the rewards and pools existing at launch

• The governance contracts themselves

dYdX Governance has control over the parameters of the following contracts:

• Timelock

• Priority Timelock

• Governor

• $ethDYDX Token

• Treasury

• Merkle Distributor

• Liquidity Staking

• Safety Module

• Stark Proxy

• Stark Perpetual

Timelock Parameters

Governor Parameters

Parameter	Description	Value
Voting Delay	Delay (in blocks) between proposal creation and voting on the proposal	6,570 blocks
Add Executor role	Address that can add new executors	Short Timelock
Owner role	Can change strategy / voting delay / unauthorize executors + owns other roles	Long Timelock

ethDYDX Token

Parameter	Description	Value
Owner	Can mint ethDYDX tokens after mint restriction	Short Timelock

Rewards Treasury Parameters

Parameter	Description	Value
Owner	Can approve or transfer any token held by the treasury	Short Timelock
Proxy Admin	Can upgrade the contract	Short Timelock

Community Treasury Parameters

Parameter	Description	Value
Owner	Can approve or transfer any token held by the treasury	Short Timelock
Proxy Admin	Can upgrade the contract	Short Timelock

Merkle Distributor

Parameter	Description	Value
Owner role	Can update the rewards oracle address, update the IPNS name, and is admin of all roles	Short Timelock
Config updater role	May set rewards parameters, change the epoch schedule, or change the IPFS update period	Short Timelock
Pauser role	Can pause updates to the merkle root	Merkle-pauser Timelock
Unpauser role	Can unpause updates to the merkle root	Short Timelock
Claim operator role	May claim rewards on behalf of a user	Claims Proxy
Interval	Length of an epoch	28 days
Offset	Start of epoch zero	August 3rd 15:00 UTC 2021
IPNS name	IPNS name where rewards data is published	rewards-data.dydx.foundation
IPFS update period	Period of time after the epoch end after which the new epoch exchange statistics should be available on IPFS via the IPNS name	3 minutes
Proxy Admin	Can upgrade the contract	Short Timelock

Liquidity Staking

Parameter	Description	Value
Owner role	Admin of all roles	Short Timelock
Epoch parameters role	May set epoch parameters such as the interval, offset, and blackout window	Short Timelock
Rewards rate role	May set the emission rate of rewards	Short Timelock
Borrower admin role	May set borrower allocations and allow/restrict borrowers from borrowing	Short Timelock
Claim operator role	May claim rewards on behalf of a user	Claims proxy
Stake operator role	May manipulate user's staked funds (e.g. perform withdrawals) on behalf of a user	Short Timelock
Debt operator role	May decrease borrow debt and decrease staker debt	Short Timelock
Interval	Length of an epoch	28 days
Offset	Start of epoch zero	August 3rd 15:00 UTC 2021
Blackout window	Length of the blackout window	3 days
Rewards emission rate	Tokens allocated to stakers as rewards per second	0
Proxy Admin	Can upgrade the contract	Short Timelock

Safety Module

Parameter	Description	Value
Owner role	Admin of all roles	Short Timelock
Slasher role	Can slash staked token balances and withdraw those funds	Short Timelock
Epoch parameters role	May set epoch parameters such as the interval, offset, and blackout window	Short Timelock
Rewards rate role	May set the emission rate of rewards	Short Timelock
Claim operator role	May claim rewards on behalf of a user	Claims proxy
Stake operator role	May manipulate user's staked funds (e.g. perform withdrawals) on behalf of a user	Short Timelock
Interval	Length of an epoch	28 days
Offset	Start of epoch zero	August 3rd 15:00 UTC 2021
Blackout window	Length of the blackout window	3 days
Rewards emission rate	Tokens allocated to stakers as rewards per second	0
Proxy Admin	Can upgrade the contract	Long Timelock

Stark Proxy

Parameter	Description	Value
Owner role	Can add/remove recipients who receive funds + STARK keys, set ERC20 allowances on liquidity staking and stark perpetual contracts, call forced actions, and is admin of owner + delegation admin roles	Market Maker
Delegation admin role	Is admin of borrower, exchange operator, and withdrawal operator roles	Market Maker
Borrower role	May call borrow functions on the liquidity staking contract	Market Maker
Exchange operator role	May call exchange functions on the stark perpetual contract	Market Maker
Withdrawal operator role	May withdraw funds in excess of the borrowed balance to an allowed recipient	Market Maker
Guardian role	May perform close actions, perform force actions if borrower has overdue debt, restrict open actions with borrowed funds, and approve a token amount to be withdrawn externally by the withdrawal operator role.	Short Timelock
Veto guardian role	May veto forced trade requests initiated by the owner, during the waiting period	Merkle-pauser timelock

Stark Perpetual

Parameter	Description	Short Timelock Executor	Merkle-Pauser Executor	Long Timelock Executor	Starkware Executor
Add new asset		N	N	N	Y
Change configuration of existing asset		N	N	N	Y
Proxy admin		N	N	N	Y
Add operator		N	N	N	Y
Remove operator		N	N	N	Y
Add verifier		N	N	N	Y
Remove verifier		N	N	N	Y