Governance
Last updated
Last updated
The Inverter protocol uses governance mechanisms to control its crucial administrative functions, which are only executable by specific multisig addresses. This strategy boosts the system's security by ensuring that only authorized parties can implement significant changes.
We have set up two different Multisigs, each with specific authorization levels to ensure security within our system.
The Inverter Team Multisig is managed by our team members and primarily handles quick responses and maintenance tasks.
The Community Multisig is managed by community members and primarily focuses on major decision-making and high-impact activities.
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The Governor contract serves as the central hub for on-chain governance. It is the primary entry point through which crucial administrative functions are governed. The contract includes administrative functions that can only be executed by the previously mentioned multisig authorization levels. These functionalities are:
Authorization Level: Inverter Team & Community Multisig
The Beacon Upgrade functionality allows for the upgrading of contracts at the protocol level. Regular upgrades, categorized as maintenance tasks, can be initiated by either of the multisig authorization levels. After a specified time lock period has passed, these upgrades can be executed, providing users with the opportunity to review the upcoming changes in advance.
Authorization Level: Inverter Team & Community Multisig
The Beacon Pauseability functionality allows for the pausing of beacons and their respective contracts at the protocol level. To quickly address faults in the system, both multisig authorization levels have the authority to pause the beacon systems.
Authorization Level: Community Multisig
The community multisig has the exclusive authority to lift a pause that was initiated in response to a fault in the system, ensuring that any updates or changes align with the community's consensus on the protocol's status.
Authorization Level: Inverter Team & Community Multisig
Registering new Modules in the Module Factory can only be done through the Governor contract. As this process is considered a maintenance task, both multisig authorization levels are authorized to use this functionality.
Authorization Level Overal Fees: Community Multisig
Authorization Level Workflow Fees: Inverter Team & Community Multisig
The fee settings, as a category of high-impact actions, are primarily governed by the Community Multisig. This governance includes:
Designating the Default Treasury Address, where all collected fees are directed.
Establishing a default fee applicable to all workflows unless a specific fee is assigned.
Implementing a maximum fee limit that cannot be exceeded for any fee adjustments.
In cases where specific fees are assigned to certain workflows (referred to as Workflow Fees), both multisig authorization levels are permitted to modify these fee values. However, these adjustments are still subject to the maximum fee cap previously mentioned.
