Form the Emergency subDAO

Motivation

The Emergency DAO is an idea pioneered by Curve that empowers a small group to “kill” pools and gauges in the event of malicious activity and/or potential loss of funds. So far the power has only been used once to kill the Mochi pool.

This proposal is being presented as a response to the situation Balancer is facing regarding the three element pools (1)(2)(3) which were grandfathered into the gauge voting system when veBAL launched. A single LP has staked in the gauges and has bribed on hidden hand to entice voters while this single actor collects all the emissions.

Given that these element pools have expired they should no longer be eligible for BAL emissions.

The Emergency subDAO will be a 4-of-7 multisig with the following members:

  • Solarcurve (0x512fce9B07Ce64590849115EE6B32fd40eC0f5F3)
  • Mike B (0xF01Cc7154e255D20489E091a5aEA10Bc136696a8)
  • Zekraken (0xafFC70b81D54F229A5F50ec07e2c76D2AAAD07Ae)
  • Zen Dragon (0x7c2eA10D3e5922ba3bBBafa39Dc0677353D2AF17)
  • Markus (0x6bB4720473d4D7133f944785e5EE1A650C07f34e)
  • Fernando (0xbbF0Ae5195444264364CA7eb7E3BB1971B4c3eCb)
  • Nico (0x815d654E930E840D0E0Ee1B18FFc8Fb4ddA4c6B3)

Gnosis safe address: 0xA29F61256e948F3FB707b4b3B138C5cCb9EF9888

A governance proposal will be required to change signers of this multisig. To be clear, Balancer’s Emergency subDAO will only have the power to kill gauges. Balancer pools cannot be “killed” by governance after the pool factory has been deployed for three months.

An additional power of the Emergency subDAO will be to add a token to the deny list on the newly created “ProtocolFeesWithdrawer” contract. In order for a token to be added back to the allow list a veBAL governance vote would be required. A token would only be added to the deny list in the event of an issue along the lines of the recent Synthetix bug disclosure.

Specification

The DAO Multisig 0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f will call grantRoles on the Authorizer 0xA331D84eC860Bf466b4CdCcFb4aC09a1B43F3aE6 with the following arguments:

roles: [0xec1d467d9ab03a0079c22a89037209f5763aec973897ea763e2cf25d71a5f12e, 0xa5a62b55fdf9496f8e1b3feba479423a4349b385bd444f893b3cd4cf9387ce3f]

account: 0xA29F61256e948F3FB707b4b3B138C5cCb9EF9888

The role 0xec1d467d9ab03a0079c22a89037209f5763aec973897ea763e2cf25d71a5f12e corresponds to killing gauges and 0xa5a62b55fdf9496f8e1b3feba479423a4349b385bd444f893b3cd4cf9387ce3f corresponds to adding a token to the deny list in ProtocolFeesWithdrawer

5 Likes

The role I’m getting for the denylist is 0xa5a62b55fdf9496f8e1b3feba479423a4349b385bd444f893b3cd4cf9387ce3f, which is obtained by calling getActionId() on the ProtocolFeesWithdrawer (from the other proposal) with 0x194d810f, the first four bytes of the hash of denylistToken(address).

The other role, 0xec1d467d9ab03a0079c22a89037209f5763aec973897ea763e2cf25d71a5f12e, does correspond to the selector for killGauge() (0xab8f0945) passed to the AuthorizerAdaptor (since the gauges, like all Vyper contracts, are called via the Adaptor and not directly).

3 Likes

Updated to reflect that, thank you!

1 Like

to add to this point, as far as i’m aware, there is no way to acquire the LP tokens for this pool in the open market so there is no way for others to benefit from these gauge rewards. there is one sole benefactor now and into the future. it doesn’t make sense for these pools to exist on the gauge anymore due to the fact that the vehicle is past maturity.

1 Like

https://snapshot.org/#/balancer.eth/proposal/0x63fab7ab9ef5b9579dabb82058b8ea309e39c766d435438b55fff8db7c1f69fd