PIP-XX - Post-Trial Period Considerations

Governance Proposals
1

PIP-XX - Post-Trial Period Considerations

Abstract

During the original implementation period of the PSP 2.0 proposal, a 6-epoch pilot was implemented to ensure the effectiveness of the proposed plans, and along with it the introduction of the Governance Committee (GovCo).

With this pilot period soon coming to an end, this proposal aims to reflect on the performance of PSP 2.0 and proposes key iterations for the token allowlists, the future duties of the Governance Committee and possible next steps to amend.

Goals & review

Overall, the main goal of this proposal is to explore the performance of the Social Escrow system and suggest changes to render the entire process more efficient. This goal, however, can be subdivided into smaller subgoals:

  1. Revise the roles and duties of the Governance Committee following the end of the pilot
  2. Streamline the inclusion of new tokens onto the allowlist through new automation solutions

Means

In a similar manner to the goals above, the means can also be subdivided, as each one addresses different issues. For ease of reading, we will separate each one into its own section:

PIP-XX-1 - Next Steps for the Governance Committee

During the first six months of PSP 2.0, GovCo proved to be effective and to act fast in emergencies. PSP-EPΔ03 and PSP-EPΔ06 are good examples of this, as both would not have been possible without a decision-making body to verify the urgency of the matter and approve the solutions.

As PSP 2.0 shifts away from the trial period, GovCo’s epoch assessments and regular meetings will not be needed anymore.

While keeping everything else identical to the original proposal of PSP-IPΔ26, we suggest GovCo’s duties to transition to the following:

  1. Determine whether a proposal qualifies as a PEP proposal and publish it for a vote on Snapshot.
  • As per usual, anyone will be allowed to publish their own PEP.
  • Once the proposal is considered ready for publication by the author, they request the Governance Committee to post on Snapshot.

  1. Handle the creation of the recurrent transactions needed to support PSP 2.0 operations:

  2. Upgrade Module sePSP1 unstaking, withdrawing, and approval

  3. Support for future manual transactions specified on their own proposals

  4. Verify and sign transactions needed to support PSP 2.0 operations

  5. Monitor and report potential vulnerabilities or unintended uses of the Social Escrow PSP system, and trigger Emergency Measures if necessary.

Performance Indicators

  1. As a group, GovCo must be able to respond to any formal request for a PEP to be published up to 72 hours from its formal request time in the forums.

  2. This will only apply to the first formal request, if GovCo doesn’t deem the proposal necessary for a PEP, further response times for the revision might vary depending on the amends needed

  3. Individual GovCo member duties:

  4. Signing rate of at least 75%, with no more than 3 votes missed consecutively.

  5. If approving/denying a PEP vote, a rationale for their vote is expected based on their personal decisions

  6. Although no regular calls are expected anymore, members are expected to have the availability to attend at least 2 calls per epoch, in case it is required

PIP-XX.2 - Token Auto-whitelisting

As mentioned in the original proposal, for a token to be counted towards boost calculations it has to be included onto the allowlist first. Until now, for a new token to be added to the allowlist, a proposal was needed. This was done in the past, but for complete scalability in the future, a more automated solution is needed. To summarise, the proposed changes to the allowlist are as follows:

  • Change from token voting to token-list voting for adding new tokens: current considered token lists can be found here
  • Stablecoins: required proposal to qualify as a stablecoin, this remains token by token.
  • For new chains: we will vote on token lists to be added (if needed, because many of the existing token lists already may cover the new chain to be added) and also on stable-coin definition (selecting which tokens are stablecoins on that chain)

Implementation Overview

  1. The new set of criteria for the Governance Committee is implemented
  2. New token listings are handled automatically through a curated token list

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Voting options

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Abstain

6 Likes
2

Hey everyone,

With the release of multichain staking last week I thought it was best to release the temp check now. Heads up that I am hoping to publish this proposal next week!

2 Likes
3

Hi everyone, I have been discussing this proposal with developers and it seems that PIP-41.2 requires additional considerations before being implemented. For this reason, I have decided to publish only the first section of the proposal for now, as during this discussion time we saw the importance of having GovCo assess emergency proposals.

The vote is going live today, with the second section being worked and voted on at a later date: Snapshot

2 Likes