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{ | ||
"chainid": 42161, | ||
"description": "Enable the redemption rate controller mechanism", | ||
"description": "Turn on OD Controller\n## Overview\n\nThis proposal turns on the OD redemption rate controller\n\n## Discussion\n\nSee forum discussion https://commonwealth.im/open-dollar-governance/discussion/17145-proposal-initial-collateral-factors-and-pi-controller-parameter-recommendations\n\nTurning the controller on involves updating the system's OD oracle from the hardcoded one to the real one using the [Camelot OD / WETH pool](https://info.camelot.exchange/pair/arbitrum/v3/0x824959a55907d5350e73e151ff48dabc5a37a657), and setting assorted parameters on the controller (e.g. noiseBarrier, kp, ki, perSecondCumulativeLeak)\n\n## Oracles\n\nNew oracles were deployed for OD/WETH pool using our audited [od-relayer oracles ](https://github.com/open-dollar/od-relayer/releases/tag/v1.7.2)\n\n```\nMAINNET_CHAINLINK_L2VALIDITY_ETH_USD_RELAYER = 0x4617Feb8B72167c3b8253a1327CddE44e54670Ce;\nMAINNET_CAMELOT_OD_WETH_RELAYER = 0x43261bFF12F8D26Ae3E3ef6924Eca6FA5c32f4b6;\nMAINNET_DENOMINATED_OD_USD_ORACLE = 0x53BA82f08639F5D0ac7b61471A6CAc0B2FAb7372;\n```\n\nThe OD/USD oracle 0x43261bFF12F8D26Ae3E3ef6924Eca6FA5c32f4b6 will be updated as the new `systemCoinOracle` in the Oracle Relayer.\n\n## PI Controller Settings\n\nThe intended settings are listed below, and also in the [Open Dollar Protocol Parameters](https://build.opendollar.com/Open-Dollar-Protocol-Parameters-bdd5be16b5774ce1b8f8a167be1ad3e9?pvs=4) document.\n\n\n#### pidControllerGains\n\nThe DAO has decided to update the controller gains (kp and ki) per the recommendations of the 0xSideQuest team. See the forum discussion for more details, including a final analytical report: https://commonwealth.im/open-dollar-governance/discussion/17145-proposal-initial-collateral-factors-and-pi-controller-parameter-recommendations\n\n```\nkp: 144_301_433_810 // WAD 1.443014338103e-07\nki: 16_442 // WAD 1.6442e-14 \n```\n\n#### oracleRelayerParams\n\nThis proposal updates the boundaries for the redemption rate.\n\n```\nredemptionRateUpperBound: 1000000074561623060142516377 // RAY\nredemptionRateLowerBound: 999999926985508341799701018 // RAY\n```\n\n#### pidControllerParams\n\nThis proposal makes a few additional changes to controller settings based on the recommendation of the HAI and Open Dollar community.\n\n- Set the noise barrier to 1e18 (no noise barrier)\n- Update perSecondCumulativeLeak from 30 day to 90 days\n\n```\nperSecondCumulativeLeak: 999_999_910_860_706_061_391_497_541 // HALF_LIFE_90_DAYS Decay constant for the integral deviation\nnoiseBarrier: 1000000000000000000, // No noise barrier\nfeedbackOutputLowerBound: -999999999999999999999999999, // (unbounded) Minimum limit for the redemption rate.\nfeedbackOutputUpperBound: RAD, // (unbounded) Maximum limit for the redemption rate\nintegralPeriodSize: 1 hours // Minimum duration required to calculate integral deviation\n```\n\n#### pidRateSetterParams\n\nNo change here.\n\n```\nupdateRateDelay: 1 hours // Time gap between successive redemption rate adjustments\n```\n\n---\n\nTo create your own proposal use the CLI tool [`od-governance-manager`](https://github.com/open-dollar/od-governance-manager) and submit a PR.\n\n", | ||
"network": "mainnet", | ||
"proposalType": "ModifyParameters", | ||
"ODGovernor_Address": "", | ||
"objectArray": [ | ||
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"target": "0x7404fc1F3796748FAE17011b57Fad9713185c1d6", | ||
"param": "systemCoinOracle", | ||
"type": "address", | ||
"data": "0x4617Feb8B72167c3b8253a1327CddE44e54670Ce" | ||
"data": "0x53BA82f08639F5D0ac7b61471A6CAc0B2FAb7372" | ||
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"target": "0x7404fc1F3796748FAE17011b57Fad9713185c1d6", | ||
"param": "redemptionRateUpperBound", | ||
"type": "uint256", | ||
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"target": "0x7404fc1F3796748FAE17011b57Fad9713185c1d6", | ||
"param": "redemptionRateLowerBound", | ||
"type": "uint256", | ||
"data": "999999926985508341799701018" | ||
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"target": "0x51f0434645Aa8a98cFa9f0fE7b373297a95Fe92C", | ||
"param": "kp", | ||
"type": "int256", | ||
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"param": "ki", | ||
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{ | ||
"target": "0x51f0434645Aa8a98cFa9f0fE7b373297a95Fe92C", | ||
"param": "noiseBarrier", | ||
"type": "uint256", | ||
"data": "1000000000000000000" | ||
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{ | ||
"target": "0x51f0434645Aa8a98cFa9f0fE7b373297a95Fe92C", | ||
"param": "perSecondCumulativeLeak", | ||
"type": "uint256", | ||
"data": "999999910860706061391497541" | ||
} | ||
], | ||
"arrayLength": "1" | ||
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gov-output/mainnet/modifyParameters-7_25_2024-49101771.json
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"description": "Turn on OD Controller\n## Overview\n\nThis proposal turns on the OD redemption rate controller\n\n## Discussion\n\nSee forum discussion https://commonwealth.im/open-dollar-governance/discussion/17145-proposal-initial-collateral-factors-and-pi-controller-parameter-recommendations\n\nTurning the controller on involves updating the system's OD oracle from the hardcoded one to the real one using the [Camelot OD / WETH pool](https://info.camelot.exchange/pair/arbitrum/v3/0x824959a55907d5350e73e151ff48dabc5a37a657), and setting assorted parameters on the controller (e.g. noiseBarrier, kp, ki, perSecondCumulativeLeak)\n\n## Oracles\n\nNew oracles were deployed for OD/WETH pool using our audited [od-relayer oracles ](https://github.com/open-dollar/od-relayer/releases/tag/v1.7.2)\n\n```\nMAINNET_CHAINLINK_L2VALIDITY_ETH_USD_RELAYER = 0x4617Feb8B72167c3b8253a1327CddE44e54670Ce;\nMAINNET_CAMELOT_OD_WETH_RELAYER = 0x43261bFF12F8D26Ae3E3ef6924Eca6FA5c32f4b6;\nMAINNET_DENOMINATED_OD_USD_ORACLE = 0x53BA82f08639F5D0ac7b61471A6CAc0B2FAb7372;\n```\n\nThe OD/USD oracle 0x43261bFF12F8D26Ae3E3ef6924Eca6FA5c32f4b6 will be updated as the new `systemCoinOracle` in the Oracle Relayer.\n\n## PI Controller Settings\n\nThe intended settings are listed below, and also in the [Open Dollar Protocol Parameters](https://build.opendollar.com/Open-Dollar-Protocol-Parameters-bdd5be16b5774ce1b8f8a167be1ad3e9?pvs=4) document.\n\n\n#### pidControllerGains\n\nThe DAO has decided to update the controller gains (kp and ki) per the recommendations of the 0xSideQuest team. See the forum discussion for more details, including a final analytical report: https://commonwealth.im/open-dollar-governance/discussion/17145-proposal-initial-collateral-factors-and-pi-controller-parameter-recommendations\n\n```\nkp: 144_301_433_810 // WAD 1.443014338103e-07\nki: 16_442 // WAD 1.6442e-14 \n```\n\n#### oracleRelayerParams\n\nThis proposal updates the boundaries for the redemption rate.\n\n```\nredemptionRateUpperBound: 1000000074561623060142516377 // RAY\nredemptionRateLowerBound: 999999926985508341799701018 // RAY\n```\n\n#### pidControllerParams\n\nThis proposal makes a few additional changes to controller settings based on the recommendation of the HAI and Open Dollar community.\n\n- Set the noise barrier to 1e18 (no noise barrier)\n- Update perSecondCumulativeLeak from 30 day to 90 days\n\n```\nperSecondCumulativeLeak: 999_999_910_860_706_061_391_497_541 // HALF_LIFE_90_DAYS Decay constant for the integral deviation\nnoiseBarrier: 1000000000000000000, // No noise barrier\nfeedbackOutputLowerBound: -999999999999999999999999999, // (unbounded) Minimum limit for the redemption rate.\nfeedbackOutputUpperBound: RAD, // (unbounded) Maximum limit for the redemption rate\nintegralPeriodSize: 1 hours // Minimum duration required to calculate integral deviation\n```\n\n#### pidRateSetterParams\n\nNo change here.\n\n```\nupdateRateDelay: 1 hours // Time gap between successive redemption rate adjustments\n```\n\n---\n\nTo create your own proposal use the CLI tool [`od-governance-manager`](https://github.com/open-dollar/od-governance-manager) and submit a PR.\n\n", | ||
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"network": "mainnet", | ||
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"target": "0x7404fc1F3796748FAE17011b57Fad9713185c1d6", | ||
"param": "redemptionRateUpperBound", | ||
"type": "uint256", | ||
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"target": "0x7404fc1F3796748FAE17011b57Fad9713185c1d6", | ||
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{ | ||
"target": "0x51f0434645Aa8a98cFa9f0fE7b373297a95Fe92C", | ||
"param": "kp", | ||
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"target": "0x51f0434645Aa8a98cFa9f0fE7b373297a95Fe92C", | ||
"param": "noiseBarrier", | ||
"type": "uint256", | ||
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"target": "0x51f0434645Aa8a98cFa9f0fE7b373297a95Fe92C", | ||
"param": "perSecondCumulativeLeak", | ||
"type": "uint256", | ||
"data": "999999910860706061391497541" | ||
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