Transaction Hash:
0xbba277436b5eb5eb39042be8bd6163da548c2186567fdab62939ffcd100b9b38
Timestamp:
183 days ago (Jul-24-2024 03:41:23 AM UTC )| Confirmed within 2 secs
Transaction Fee:
0. 002520787280526748 ETH $8.34
Gas Price:
4. 225446476 Gwei (0. 000000004225446476 ETH)
Ether Price:
$3,335.15 / ETH
Gas Limit & Usage by Txn:
762,020
|
596,573 (78.29%)
Gas Fees:
Base: 3. 168296388 Gwei | Max: 5. 692084813 Gwei | Max Priority: 1. 057150088 Gwei
Burnt & Txn Savings Fees:
🔥 Burnt: 0. 001890120081078324 ETH ($6.25) 💸 Txn Savings: 0. 000874956832619101 ETH ($2.90)
Other Attributes:
Txn Type: 2 (EIP-1559)
Nonce: 13
Position In Block: 8
Input Data:
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AA Txn Hash
Method
Position
From
Internal Txns
Token Txns
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Txn Fee (ETH)
Gas Limit
Transaction Receipt Event Logs
49
Address
0xc0da02939e1441f497fd74f78ce7decb17b66529
(Compound: Governance)
Name ProposalCreated (uint256 id , address proposer , address[] targets , uint256[] values , string[] signatures , bytes[] calldatas , uint256 startBlock , uint256 endBlock , string description )View Source
Topics 0 0x7d84a6263ae0d98d3329bd7b46bb4e8d6f98cd35a7adb45c274c8b7fd5ebd5e0 Data 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id : 289 proposer : 0x337F3Fb97657b542eC3f182a488b7F7feBA8Bc0e targets : 0x3d9819210A31b4961b30EF54bE2aeD79B9c9Cd3B 0xb9259D9f2249eB7FB44140926BFd376B63c4925e values : 0 0 signatures : _grantComp(address,uint256) grantPhase(uint8) calldatas : 000000000000000000000000B9259D9F2249EB7FB44140926BFD376B63C4925E0000000000000000000000000000000000000000000069AAD81DB8B0F1E00000 0000000000000000000000000000000000000000000000000000000000000001 startBlock : 20386918 endBlock : 20406628 description : # Trust Setup for DAO investment into GoldCOMP
## Proposal Overview
The goldCOMP DeFi vault 1 created by the Golden Boys is an exciting new strategy designed to provide COMP holders yields on their COMP tokens. When a user places COMP into the goldCOMP vault, the depositor receives goldCOMP, a semi-liquid wrapped token representing their initial deposit. These goldCOMP tokens can be placed in a 99/1 Balancer pool 1, creating a passive income stream for COMP holders who plan to hold COMP for a long period of time. The depositor’s goldCOMP can be burnt to receive the initial COMP during regular withdrawal windows with no risk of slashing or penalty. GoldCOMP is an exciting investment opportunity for any COMP holder, aimed to enrich the Compound Finance ecosystem. The proposal seeks a one year investment of 499,000 COMP of Treasury funds into the Trust Setup vault described above, to generate interest on 5% of treasury’s non-interest bearing COMP holdings.
## Proposal summary
After careful consideration of the feedback received on the previous proposal 7 regarding multisig concerns, the Goldenboys have decided to create a “Trust Setup.” Contract deployed here: [TrustSetup](https://etherscan.io/address/0xb9259d9f2249eb7fb44140926bfd376b63c4925e#code) This framework defines a constrained set of actions that can only be executed with prior approval from Compound Governance through a process referred to as granting a “Phase”.
Let us provide a detailed breakdown:
What specific set of actions can the Goldenboys multisig initiate, and under what circumstances?
The multisig has the capability to execute the following actions:
- Invest
- Divest (including queuing a divestment and its completion)
- Convert rewards into WETH
- Update oracle fee (setter)
Before addressing the conditions under which each action can be triggered, it is important to note that the “Trust Setup” begins in a phase called NEUTRAL, during which the multisig does not possess any rights to initiate either investment or divestment.
Under what circumstances is a PHASE updated, and what are the implications of such an update?
As previously described, there are two actions that can only be enabled if Compound Governance grants the Goldenboys multisig the necessary permissions: invest and divest. This process will be executed through the Timelock and requires calling the grantPhase(uint8) function. Setting the argument to 1 will enable the multisig to invest, while setting the argument to 2 will enable it to divest. It is important to note that only the Compound Timelock has the absolute authority to change the PHASE.
How will the multisig safely handle each of the INVEST and DIVEST operations once the PHASE has been granted?
The “Trust Setup” is designed to ensure that the minOut for each action is protected by on-chain logic, thereby ensuring that trust is not solely dependent on the operational competence of the multisig but is also verifiable on-chain (see _ratioCompBpt(), _calcMinBpt(uint256) & _minCompOut(uint256). Furthermore, the architecture incorporates an additional slippage check to further safeguard these operations. This slippage check will be calculated off-chain by the Goldenboys multisig to prevent manipulation. Please refer to the following methods for further details: invest(uint256 _expectedMinBptOffchain) and commenceDivestment(uint256 _bptToDivest, uint256).
How are the rewards processed and to which destination are they sent?
Rewards are processed by the Goldenboys multisig, initially converting them into WETH. Subsequently, any bot can convert these WETH rewards into COMP tokens by referencing the COMP/WETH ratio provided by the Chainlink oracle. Upon completion of the swap, the resulting proceeds are sent atomically to the Comptroller, as hardcoded within the smart contract.
## Proposal Actions
1. Transfer 499,000 COMP to the Trust Setup contract
2. Update the PHASE to allow the Goldenboys multisig to call invest(uint256) in the Trust Setup contract
Dec Hex
A transaction is a cryptographically signed instruction that changes the blockchain state. Block explorers track the details of all transactions in the network. Learn more about transactions in our Knowledge Base .