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:
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 |
Last updated
