Saturn 2 Scoping — Community Discussion

Governance
21

I think this is a great summary of where we should be heading.
It’s so aligned with my deepest thoughts that I can hardly think of something new to say, but I’ll try.

  1. Meta-voting: I do think, generally, making use of our onchain voting system as a snapshot replacement is good. For those who don’t remember, snapshot now charges an unfortunate amount of money for us to vote there and we want to move off of it. As of now, we enable and disable snapshot voting month by month via GMC grants. I would hate for this to significantly delay the rETH work. I suspect Kane already has a vision for doing this efficiently, though.

  2. Commission Review: I am a big fan of enabling the enabling (eventually) of pdao_share. For that and other reasons related to potential 3rd party income possibilities, I am very much in favor of getting the work done to allow ETH/WETH to be transferred back out of the vault. This needs to be done at some point. Again, rETH first, though.

Oh, right and

  1. Inflation Changes: I think we were originally concerned about getting enough migrations before cutting off NO inflation rewards to give some of that to pDAO. It’s tricky since as of now it seems migrations are not going to be determined by minipool NO desire but by borrowed ETH availability. As Saturn 2 approaches, I’d still maybe be in favor of a slow shifting of rewards to pDAO treasury but I might now be more inclined to skip this step and in Saturn 2 just do some sort of cut inflation to 2% or so and the extra go to pDAO (rather than 1.5%). I would have to rerun some numbers, though.
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22

I just noticed that RPIP-42 actually has two aspects for Saturn 2: the lowering to 1.5 ETH and making base_bond_array a pDAO parameter (you actually had this in there from the start). I think there is consensus that we should defer the former, but we didn’t really talk about the latter. In my opinion, we should do the pDAO parameter either way and if we want to do RPIP-83 (increase bond req), we actually need it.

23

It sucks that we can’t lower the bond because of poor rETH demand but raising it so people that waited maybe years to get thru the queue will not get any rewards for even longer seems like poor planning and terrible execution. “your poor planning doesn’t equate to my emergency.”

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