Geode Finance

Oracle and Regulations

OracleUtils Library (ETH)

Telescope is our Holy Oracle. Currently, it is operated by a multisig, which we proposed to be the same as the Senate. To improve trustlessness, we might improve this component in the future.
It has 3 functionalities:

Distributing the Yield

Telescope updates the PPS (pricePerShare) of every gETH ID with reportOracle function. However, since we are not willing to send data for thousands of Private Pools in the future, Telescope sends a Merkle Root. Function calculates the Planet prices and then verifies the merkle-root. Planet pool prices are updated afterwards.
Private Pool prices can be synced by anyone with the correct merkle-proofs. Price sync is required whenever a deposit or a withdrawal operation is requested.

Regulating the Market

There are 5 forbidden acts, and Telescope regulates them by regulateOperators with an Optimistic approach.
Actions that can cause imprisonment:
  1. 1.
    Alien Proposals: Simply validator credential frontrunning. This would jeopardize the user funds. Operator is imprisoned for a while (currently 15 days) as a punishment.
  2. 2.
    Busted Signals: Operator signaled an unstake, but did not unstake. Operator did not respect the game. Operator is imprisoned for a while (currently 15 days) as a punishment.
  3. 3.
    Validator Unstaked without a signal. Operator did not respect the game. Operator is imprisoned for a while (currently 15 days) as a punishment.
  4. 4.
    Validator is not exited by Operator although the expectedExit has past. Anyone can blame a validator and effectively imprison the Operator until the exit happens.
  5. 5.
    Stealing the block rewards from staking pools. Obviously this causes prisonment.
None of these actions provide any benefits to Operators, and there is no way to be imprisoned without a malicious intent or a mistake.
What happens when an operator is imprisoned?
  1. 1.
    Can not propose new validators.
  2. 2.
    Can not stake to beacon chain for previously accepted validator proposals.
  3. 3.
    Can not access to maintainerWallet, effectively, can not claim their rewards.

Fetching the Unstakes

Currently, Telescope fetchs the unstaked Ether from MiniGovernances and uses it to pay DWP debt and maintainer fees. Remaining funds are put in the surplus of the pool for depositors to use it as an exit liquidity or operators to create new validators.

With the next upgrade Geode will support EIP-4895 and increase the trustlessness of these method while decreasing the costs significantly for the Node Operators: