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:
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.
The DAO Multisig
0x10A19e7eE7d7F8a52822f6817de8ea18204F2e4f will call
grantRoles on the Authorizer
0xA331D84eC860Bf466b4CdCcFb4aC09a1B43F3aE6 with the following arguments:
0xec1d467d9ab03a0079c22a89037209f5763aec973897ea763e2cf25d71a5f12e corresponds to killing gauges and
0xa5a62b55fdf9496f8e1b3feba479423a4349b385bd444f893b3cd4cf9387ce3f corresponds to adding a token to the deny list in