🤝Dual Governance

Building on top of the Isolated Storage

We learned that DataStore keeps different entities in isolated storage slots with different IDs.

However, this functionality is nothing to be excited about without a mechanism to enforce this logic on protocol and contract upgrades.

Geode manages crucial parts of it's operation with 2 step verification:

  1. Governance Proposals

  2. Senate Approvals

This setup creates another safeguard for the users of The Staking Library.

Proposals

A proposal is Geode Governance offering a change within the protocol to the Senate.

Every proposals isolates an ID for DataStore.

After the Controller is chosen, no one else can touch to the given storage ID.

GeodeUtilsLib.sol
  struct Proposal {
    address CONTROLLER;
    uint256 TYPE;
    bytes NAME;
    uint256 deadline;
  }

A Proposal has 4 parameters:

  • TYPE: separates the proposals and related functionality between different ID types.

  • NAME:important for ID generation through DataStore.generateId()

  • CONTROLLER: the address that refers to the change that is proposed by given proposal ID.

    • This slot can refer to the controller of an id, a new implementation contract, a new Senate etc.

  • deadline: refers to last timestamp until a proposal expires.

All TYPEs are reserved as ID_TYPE within globals.sol.

There can be more TYPE reservations in the future.

ID_TYPECONTROLLER

0

NONE -unused

1

new senate address

2

new implementation contract for Portal

3

GAP - unused

4

Controller of a Operator

5

Controller of a Pool

21

Module: Withdrawal Contracts

31

Module: gETH interfaces

41

Module: Liquidity Pool

42

Module: Liquidity Pool Token

Governance

Currently, Governance is an internal ERC-20 token that is only owned by Geode Finance Developers and Treasury.

This internal ownership is a needed step to eliminate the risk of some attacks like Governance tak-over.

In the future, the Governance of Geode is supposed to be decentralized with the distribution of these tokens.

Senate

Currently, Senate is a Multisig of Geode developers.

But GeodeUtils Library includes a logic for changing the Senate, as well as an Election for it.

TYPE 1 proposals stand for Senate Elections.

However, the future of Senate will not be decided by elections, but with an other approach:

A Decentralized Senate with a weighted vote distribution:

Quadratic Weighted Senate (DRAFT)

Limited Upgradability

TYPE 2 proposals ensure Limited Upgradability on both Portal and Withdrawal Contracts.

⚠️Limited Upgradability

Onboarding Operators

TYPE 4 proposals stands for onboarding a new Node Operator to the Marketplace:

page link

New Withdrawal Contract, gETH interface or Liquidity Pools

Other TYPEs like 21, 31 etc. stands for other important parameters of Portal like default Liquidity Pool or withdrawal Contract implementation.

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