Governor Bravo Proposal

Delegate to the Governor Bravo CAP here: 0xd122638eCa5bB644591fE660FCe0B85E2aB6186a

Introduction

Governor Bravo has been a community effort for the past few months to bring governance to the next stage. This proposal transfers Compound governance to the new Governor Bravo contract. This transfer is done by setting the pending admin of the Timelock to Governor Bravo, then calling initiate on Governor Bravo, which accepts the Timelock admin. If this proposal is successful, all future Compound governance calls should be sent to Governor Bravo.

Proposal Calls

The first two calls reimburses Compound Labs $27k that was paid to Open Zeppelin for the audit from cUSDC reserves. The following two calls award bounties to Arr00(160 COMP) and Blurr(80 COMP) for organizing and executing the Governor Bravo project. The following call sets Governor Bravo as the pending admin, and the last call initiates Governor Bravo, accepting the Timelock admin.

Governor Bravo Details:

Governor Bravo has been developed by members of the community in the open for the past few months. The new contracts have been fully audited by Open Zeppelin, are fully covered by extensive test suites, have been simulated by forking simulations, and have been running on the kovan testnet.

The new features are as follows:

  • Upgradable implementation
  • Settable parameters (proposal threshold, voting period, voting delay)
  • Abstain vote option
  • Optional string voting reason
  • Proposer can always cancel their proposal (until execution)
  • Removal of the guardian
  • Continuous proposal id logic

The introduction of Governor Bravo allows for governance to create meta proposals to optimize the process and move the governing process forwards. The code changes of Governor Bravo are deliberately minimized but allow for endless exploration of governance modification in the future.

For more context, please see the Governor Bravo forum post Governor Bravo Development.

Important Notes:

Once the Governor Bravo proposal is live, no other proposals should be posted on Governor Alpha unless Governor Bravo fails. The Governor Bravo proposal will transfer the Timelock admin away from Governor Alpha which disallows future queuing and executing from Governor Alpha.

For platforms building on Compound Governance, note the Governor Bravo address and the ABI which can be found here. The first proposal on Governor Bravo will be one greater than this proposal. Any third party voting service should note the change of the support variable type from a boolean to a uint8. The support values are as follows: 0 = against, 1 = for, 2 = abstain.

NFT:

I plan to have a limited Compound NFT ready for the Governor Bravo initiation. The complete terms of who will be able to claim it are not concrete, but assume that only voters prior to this proposal will receive the NFT. It will probably be claimable through a merkle proof based distribution minting system. Claiming will be limited to ~2 days after Governor Bravo initiation, so be sure to check back here around Bravo initiation (the execution of this proposal) for claiming instructions.

9 Likes

verified the 2 contract bytecode, all good

Using network mainnet https://mainnet-eth.compound.finance
Matching contract at 0xc0da02939e1441f497fd74f78ce7decb17b66529 to GovernorBravoDelegator with args [ā€œ0x6d903f6003cca6255d85cca4d3b5e5146dc33925ā€,ā€œ0xc00e94cb662c3520282e6f5717214004a7f26888ā€,ā€œ0x6d903f6003cca6255d85cca4d3b5e5146dc33925ā€,ā€œ0xaaaaaaaaaaaa8fdb04f544f4eee52939cddce378ā€,17280,1,ā€œ100000000000000000000000ā€]
:white_check_mark: Successfully matched GovernorBravoDelegator to 0xc0da02939e1441f497fd74f78ce7decb17b66529 with args [ā€œ0x6d903f6003cca6255d85cca4d3b5e5146dc33925ā€,ā€œ0xc00e94cb662c3520282e6f5717214004a7f26888ā€,ā€œ0x6d903f6003cca6255d85cca4d3b5e5146dc33925ā€,ā€œ0xaaaaaaaaaaaa8fdb04f544f4eee52939cddce378ā€,17280,1,ā€œ100000000000000000000000ā€]

Using network mainnet https://mainnet-eth.compound.finance
Matching contract at 0xaaaaaaaaaaaa8fdb04f544f4eee52939cddce378 to GovernorBravoDelegate with args []
:white_check_mark: Successfully matched GovernorBravoDelegate to 0xaaaaaaaaaaaa8fdb04f544f4eee52939cddce378 with args []

1 Like

Confirming my address is 0x27C79A01878962cE0b6126aF6E184c06D36c8f37.

1 Like

I love the new contacts. In terms of bounties, where do you get your comp figures from? Have you spoken with the grants committee about compensation?

As the grants committee only started after the completion of this project, I decided to complete the process using the old method. The COMP figures were reached through deliberation with many different members of the Compound community.

3 Likes

Thank you for your response. Job well done!

The Governor Bravo CAP has reached 100k votes and is now proposal 42. I just pushed a post propose forking simulation to GitHub, which confirms that Governor Bravo will take over as expected if the proposal is executed.

Go vote! :ballot_box:

3 Likes

The Compound Community NFT is now live as mentioned in the Governor Bravo proposal. Follow the guide here to claim yours once Governor Bravo is initiated. The NFT is claimable for 3 days from time that proposal 41 is executed.

Iā€™m hoping to setup a really simple frontend for claiming the NFT by Tuesday for those who are less comfortable directly interacting with the contracts via Etherscan.

5 Likes

What a cool idea. Thanks for all you do, arr00

2 Likes

Congrats on the success!

1 Like