Governance
Aside from the traders or liquidity providers who use and interact with the protocol, there are other roles in the system that are crucial in shaping the maintainability and stability of Increment, listed below:
Governance: 0xcce2065c1DC423451530BF7B493243234Ba1E849 [This is the address of the on-chain governor, which would become the governance address once the protocol is deployed]
The governance address is owned by the Increment community that governs the protocol, it can perform the following actions:
- Add a new token to the list of allowlisted ERC20 tokens which can be used as collateral.
- Remove some of the insurance funds collected when traders open/extend positions with the
removeInsurance
function. It's important to note that the insurance amount must be above the insurance ratio of the TVL in the vault to allow governance to withdraw funds. The insurance quota measures the percentage of TVL that should be held in insurance reserves and can be changed by governance.
Emergency Admin: [To be determined]
The Emergency Admin address will be owned by a multisig, which is made up of several core contributors and stakeholders of the Increment protocol. It can solely perform the following three actions:
- Pause or unpause the opening of trading positions with the
toggleTradingExpansionPause
function. This does not have any affect on closing or reducing trading positions nor liquidity provision positions. - Curve's CryptoSwap markets on which Increment relies to operate sometimes generate "dust" during swaps. Dust describes very small amounts of market tokens that can't be swapped in the pool, e.g. 2 or 3 units of vUSD. These dust amounts are collected by the protocol.
sellDust
is the function by which the manager can sell the collated dust amounts on the market.
Additional details on the governance and emergency admin roles are listed in the tables below:
ClearingHouse Contract
Role | Method | Description |
---|---|---|
Emergency Admin | sellDust | Sell the accrued dust amounts on the market (a very small amounts of market tokens that can't be swapped |
Emergency Admin | pause | Put the protocol (or a single perpetual market) on hold if it's active |
Emergency Admin | unpause | Unlock the protocol (or a single perpetual market) if it's locked |
Governance | setParameters | Set key protocol risk parameters such as min margin requirements, insurance ratio, etc. See the full list in economic parameters. |
Governance | allowListPerpetual | Add a trading pair to supported markets |
Governance | addStakingContract | Add a staking contract |
Perpetual Contract
Role | Method | Description |
---|---|---|
Emergency Admin | pause | Put the protocol (or a single perpetual market) on hold if it's active |
Emergency Admin | unpause | Unlock the protocol (or a single perpetual market) if it's locked |
Emergency Admin | toggleTradingExpansionPause | Pause/unpause trading operations tapping into the liquidity (i.e. opening and extending positions) |
Governance | setParameters | Set key protocol parameters such as sensitivity, insuranceFee, twap frequency, etc. See economic parameters. |
Insurance Contract
Role | Method | Text |
---|---|---|
Governance | removeInsurance | Once the insurance reserve exceed a certain ratio of the TVL, the insurance fees can be withdrawn |
Governance | setClearingHouse | Set new address of ClearingHouse contracts |
Oracle Contract
Role | Method | Description |
---|---|---|
Governance | setOracle | Set or update an oracle address |
Governance | setFixedPrice | Set a fixed price for an asset |
Governance | setHeartBeat | Set or update the heartbeat of an oracle |
Governance | setSequencerUptimeFeed | Set a L2 sequencer upTime feed |
Governance | setGracePeriod | Set a grace period for the L2 Sequencer to come back up |
Vault Contract
Role | Method | Description |
---|---|---|
Governance | addWhiteListedCollateral | Add a new token to the list of allowlisted ERC20 used as collateral |
Governance | changeCollateralWeight | Change weight of a white listed collateral |
Governance | changeCollateralMaxAmount | Change the maximum amount of tokens that can be deposited |
Governance | setClearingHouse | Set the ClearingHouse address |
Governance | setInsurance | Set the Insurance address |
Governance | setOracle | Set the Oracle address |
Last modified 4mo ago