ProposalsProposal 331
ProposalsProposal 331
This proposal will execute the underlying effort of the successfully passed proposal to obtain stETH Peg Protection.
As a reminder, this effort required two steps:
Since the passing of the part 1, the Nouns helper contracts that enable the DAO to swap tokens on L2 have been audited and deployed (OptimismL1Proxy, TokenBuyer, Payer, CozyMultiOraclePriceFeed). This proposal will complete part 2 by transferring 12 ETH to the TokenBuyer.
Addressing some questions raised during the voting period. If you have other questions, join the discussion telegram group and ask.
Yes. At the time of writing there’s currently ~$1M of available stETH peg protection protection on Cozy v2.
Upon execution of this proposal:
Any ETH that isn’t purchased by arbitrageurs can be withdrawn by the DAO.
For more details on how the token buyer works, visit this github repo.
The spirit of this proposal is to conduct a small scale pilot, so the scale is sized accordingly. If the DAO sees value from the pilot, it could decide to scale up protection over time.
OptimismL1Proxy has the NounsDAOExecutor as its L1OwnerAddress. The TokenBuyer, Payer, and CozyMultiOraclePriceFeed have the OptimismL1Proxy set as their owner and admin.
Only the DAO can execute transactions through the OptimismL1Proxy, and only owner/admin transactions sent through the OptimismL1Proxy can be executed on the TokenBuyer, Payer, and CozyPriceFeed.
This proposal will execute the underlying effort of the successfully passed proposal to obtain stETH Peg Protection.
As a reminder, this effort required two steps:
Since the passing of the part 1, the Nouns helper contracts that enable the DAO to swap tokens on L2 have been audited and deployed (OptimismL1Proxy, TokenBuyer, Payer, CozyMultiOraclePriceFeed). This proposal will complete part 2 by transferring 12 ETH to the TokenBuyer.
Addressing some questions raised during the voting period. If you have other questions, join the discussion telegram group and ask.
Yes. At the time of writing there’s currently ~$1M of available stETH peg protection protection on Cozy v2.
Upon execution of this proposal:
Any ETH that isn’t purchased by arbitrageurs can be withdrawn by the DAO.
For more details on how the token buyer works, visit this github repo.
The spirit of this proposal is to conduct a small scale pilot, so the scale is sized accordingly. If the DAO sees value from the pilot, it could decide to scale up protection over time.
OptimismL1Proxy has the NounsDAOExecutor as its L1OwnerAddress. The TokenBuyer, Payer, and CozyMultiOraclePriceFeed have the OptimismL1Proxy set as their owner and admin.
Only the DAO can execute transactions through the OptimismL1Proxy, and only owner/admin transactions sent through the OptimismL1Proxy can be executed on the TokenBuyer, Payer, and CozyPriceFeed.