ebtc-protocol/ebtc

Develop Timelock and incorporate to deployment script

Opened this issue · 0 comments

In virtue of the decentralized vision for eBTC, all minimized governance actions will be constraint by a Timelock. This must be developed in such a way that allows for different timelock periods per action as the different actions have different risk profiles and implications.

In the recent eBTC multisig discussion, the following was decided:

  • A new multisig will be deployed governed by the Badger Association members at the beginning with a potential of expanding in the future (eBTC Council). This multisig willl be the owner of the Timelock and the only able to post transactions to it
  • Each of the governable parameters of eBTC should be controlled by the Timelock and only by the Timelock. The system should allow for flexibility on setting (and changing with a delay of its own?) timelock periods for each operation through governance.
  • Badger's Treasury Operations multisig 0x042B32Ac6b453485e357938bdC38e0340d4b9276 will be set as the protocol's fee receipient.

Ticket Checklist

  • Timelock contract implemented
  • Timelock contract tested
  • Timelock contract incorporated to the deployment script (For its initial test on testnet)
  • Treasury Ops multisig addition as fee recepient added to the mainnet deployment script

Extra: Given RiskDAO's recommendation to disable redemptions for the first two weeks of launch, we could use this opportunity to incorporate this governance action and set the base redemption fee to 100% through the deployment script:

  • Set base redemption fee to 100% to disable redemptions through deployment script