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| --- | ||
| cgp: 149 | ||
| title: 'Decrease `constitution` parameter for `GoldToken.increaseAllowance`' | ||
| date-created: 2024-09-10 | ||
| author: 'Martin Chrzanowski (@m-chrzan)' | ||
| status: DRAFT | ||
| discussions-to: https://forum.celo.org/t/decrease-constitution-parameter-for-goldtoken-increaseallowance/9002 | ||
| governance-proposal-id: | ||
| date-executed: | ||
| --- | ||
|
|
||
| ## Overview | ||
|
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||
| This proposal is to decrease the `constitution` parameter (the parameter that | ||
| determines what percentage of YES votes are necessary for a Celo Governance | ||
| proposal to pass) of `GoldToken.increaseAllowance` from 90% to 60%. This is in | ||
| line with the `constitution` parameter of `GoldToken.approve`. | ||
|
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| ### Status | ||
|
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| - DRAFT = Feedback collection | ||
|
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| ### Proposal Description | ||
|
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| The Governance contract defines `constitution` parameters that dictate what | ||
| percentage of votes need to be YES votes for a CGP to pass. In general more | ||
| risky functions (that affect important protocol parameters or access to | ||
| community funds) should have a higher threshold (think how in e.g. US Congress, | ||
| some things require a simple 50% majority, others a 2/3rds "super majority"). | ||
|
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||
| At mainnet launch, the cLabs team proposed `constitution` parameters for most | ||
| core contract functions. For some reason `GoldToken.increaseAllowance` was | ||
| missing in this initial configuration, so its difficulty is based on the default | ||
| for the GoldToken contract - 90%. `GoldToken.approve` was set explicitly to 60%. | ||
|
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| As `increaseAllowance` is very similar in behavior to `approve` (if anything, | ||
| it's less risky than `approve`), this proposal aims to set its `constitution` | ||
| parameter to 60%, reducing from the current 90%. It appears that setting a | ||
| similar parameter for `increaseAllowance` was simply missed by the dev team when | ||
| proposing the initial Governance configuration. | ||
|
|
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| ## Proposed Changes | ||
|
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| 1. Set the constitution parameter. | ||
| - Destination: Governance | ||
| - Data: setConstitution(GoldTokenProxy, increaseAllowance.functionSelector, 60%) | ||
| - Value: 0 | ||
|
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| ## Verification | ||
|
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| Once the proposal is proposed on chain, fetch it with | ||
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| celocli governance:show --proposalID <TBD> --node https://forno.celo.org | ||
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| Verify that: | ||
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| - The proposal has value 0 (no CELO should be transferred). | ||
| - There is one transaction in the proposal. | ||
| - The transaction destination is the Governance contract | ||
| (`0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972`, verify against [Celo | ||
| docs](https://docs.celo.org/contract-addresses)). | ||
| - The transaction payload is a call to `setConstitution` with parameters: | ||
| - Address of the CELO token contract | ||
| (`0x471EcE3750Da237f93B8E339c536989b8978a438`, verify against [Celo | ||
| docs](https://docs.celo.org/token-addresses)). | ||
| - The function selector for `increaseAllowance` (`0x39509351`) | ||
| - 60% written as a Fixidity value (`600000000000000000000000` or `6e23`). | ||
|
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| ## Risks | ||
|
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| This proposal will make governance proposals with `GoldToken.increaseAllowance` | ||
| easier to pass, but they will still be as difficult to pass as proposals with | ||
| `GoldToken.approve`, which has a similar risk profile. | ||
|
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| ## Useful Links | ||
|
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||
| * [Forum Post](https://forum.celo.org/t/decrease-constitution-parameter-for-goldtoken-increaseallowance/9002) |
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| [ | ||
| { | ||
| "contract": "GovernanceProxy", | ||
| "address": "0xD533Ca259b330c7A88f74E000a3FaEa2d63B7972", | ||
| "function": "setConstitution", | ||
| "args": [ | ||
| "0x471EcE3750Da237f93B8E339c536989b8978a438", | ||
| "0x39509351", | ||
| "600000000000000000000000" | ||
| ], | ||
| "value": "0" | ||
| } | ||
| ] |
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