After 6-months, it is great to see the protocol running on the new oracle system. A couple of total ground-up reworks, countless edits, and a lot of convincing, but I am thrilled to see it implemented. The improvement will help prevent another Dai November 2020 event and enable the protocol to list a breadth of new markets.
While the major update has been made, more work is still needed. We still need to transition the Uniswap anchor from v2 to v3, support additional markets, ongoing monitoring, and further research the system’s efficiency. The recent milestone is the beginning of a more vigilant and efficient Compound.
I am requesting a 0.000214 Contributor Comp Speed grant from the protocol. Over the last 6-months, I acted as the project manager for the oracle improvement. I researched a myriad of options, worked closely with the Chainlink team, managed community feedback and input, championed the project, and most importantly, got it through governance. The ongoing contributor grant will be for the work I have done to get the oracle improvement in place and to manage it going forward.
The contributorCompSpeed grant works similarly to the compSpeed parameter for cTokens. The speed is set to a number of COMP rewarded each block, and the grant receipt can claim it like regular COMP rewards. However, unlike a typical grant, it will be distributed over time rather than immediately, and the grant can be ended at any time by governance if the community feels I am not doing a good job maintaining and developing the oracle system.
A contributorCompSpeed of 0.000214 is ~500 COMP a year using an average block time of 13.5 seconds, and the address associated with it will be my governance address 0x9B68c14e936104e9a7a24c712BEecdc220002984/gettyhill.eth.
If this is successful, I hope this encourages other community members to apply for ongoing contributor grants. There is a lot of work that needs to be regularly happening to improve and manage the protocol. Feel free to message me on Discord if you are looking for a way to get involved in the development/research of the protocol.