Open Dollar

This repository contains the core smart contract code for Open Dollar, a GEB fork. GEB is the abbreviation of Gödel, Escher and Bach as well as the name of an Egyptian god.

Selecting a Foundry profile

When running forge, you can specify the profile to use using the FOUNDRY_PROFILE environment variable. e.g. export FOUNDRY_PROFILE=test && forge test. Alternatively, you can add FOUNDRY_PROFILE=test to .env and run source .env.

Governance Actions

OpenDollar governance follows the common pattern of:

• proposing a governance action
• queuing the governance action
• executing the governance action

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

NOTE: It is important that you use the governance profile when running the different scripts otherwise the reading and writing of JSON files will not work.

Overview

General Files

• JSONScript.s.sol: provides functionality for building JSON objects for proposing governance actions, parsing the proposal id for queuing proposals and parsing JSON objects for execution of the proposals.

Proposing Governance Actions

The current list of governance operations that can be proposed:

• Add Collateral: Adding a new collateral type to the system which can be borrowed against
• Update NFT Renderer: Sets the canonical NFT Renderer contract on Vault721

The input for the proposal is specific to the proposal and what that proposal requires.

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 some extra params just for informative purposes.

Add Collateral

ProposeAddCollateral.s.sol

Required env vars:

• GOV_EXECUTOR_PK: private key of the governance executor
• GOVERNANCE_ADDRESS: address of OD Governance
• GLOBAL_SETTLEMENT_ADDRESS: address of the global settlement contract
• ADD_COLLATERAL_NEW_COLLATERAL_TYPE: bytes32 value of the new collateral type
• ADD_COLLATERAL_NEW_COLLATERAL_ADDRESS: address of the new collateral address
• ADD_COLLATERAL_MINIMUM_BID: minimum bid for the collateral auctions (wad)
• ADD_COLLATERAL_MIN_DISCOUNT: minimum discount for the collateral auctions (wad %)
• ADD_COLLATERAL_MAX_DISCOUNT: maximum discount for the collateral auctions (wad %)
• ADD_COLLATERAL_PER_SECOND_DISCOUNT_UPDATE_RATE: Per second rate at which the discount is updated (ray)

This script proposes adding a new collateral to the system (deploys new contracts via the collateral join and collateral auction house factories) and outputs a JSON output with the proposalParams.

Update NFT Renderer

ProposeUpdateNFTRenderer.s.sol

Required env vars:

• GOV_EXECUTOR_PK: private key of the governance executor
• GOVERNANCE_ADDRESS: address of OD Governance
• VAULT_721_ADDRESS: address of the Vault721 contract
• ORACLE_RELAYER_ADDRESS: address of the oracle relayer
• TAX_COLLECTOR_ADDRESS: address of the tax collector
• COLLATERAL_JOIN_FACTORY_ADDRESS: address of the collateral join factory

This script proposes setting a new NFTRenderer contract on the Vault721 contract (deploys new NFTRenderer contract) and outputs a JSON output with the proposalParams.

Update PIDController Params

ProposeUpdatePidController.s.sol

Required env vars:

• GOV_EXECUTOR_PK: private key of the governance executor
• GOVERNANCE_ADDRESS: address of OD Governance
• PID_CONTROLLER_ADDRESS: address of PID controller
• SEED_PROPOSER: new seed proposer address
• NOISE_BARRIER: new noise barrier value
• INTEGRAL_PERIOD_SIZE: new integral period size value
• FEEDBACK_OUTPUT_UPPER_BOUND: new feedback output upper bound value
• FEEDBACK_OUTPUT_LOWER_BOUND: new feedback output lower bound value
• PER_SECOND_CUMULATIVE_LEAK: new per second cumulative leak value
• KP: new kp value
• KI: new ki value
• PRICE_DEVIATION_CUMULATIVE: new deviation observation integral value

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

This script proposes updating params on the PIDController contract and outputs a JSON output with the proposalParams.

Queuing Governance Actions

Required env vars:

• GOVERNANCE_ADDRESS: address of OD Governance
• JSON_FILE_PATH: the path to the desired JSON proposal file
• GOV_EXECUTOR_PK: the private key of the queuer of the governance action

QueueProposal.s.sol is used to queue a proposal given the path of the JSON file which you want, e.g. export JSON_FILE_PATH=gov-output/1-add-collateral-proposal.json.

This script extracts the proposal id and queues the proposal via the OD governance contract. This script can be used arbitrarily for any proposal.

Executing Governance Actions

Required env vars:

• GOVERNANCE_ADDRESS: address of OD Governance
• JSON_FILE_PATH: the path to the desired JSON proposal file
• GOV_EXECUTOR_PK: the private key of the executor of the governance action

ExecuteProposal.s.sol is used to execute a proposal given the path of the JSON file you want, e.g. export JSON_FILE_PATH=gov-output/1-add-collateral-proposal.json.

The script extracts the necessary execution params from the JSON-the same params used during the proposal and executes the proposal. This script can be used arbitrarily for any proposal.