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        • GP 0: Increase SAFE membership
        • GP 1: Bob Swap beta testing infrastructure
        • GP 2: Upgrade Contracts to v1.0.0
        • GP 3: Enable Bob Swap for Public Use
        • GP 4: Increase Multisig & Upgrade BOB contract on all networks
        • GP 5: Enable Bob Swap on Ethereum Mainnet
        • GP 6: Upgrade zkBob to support direct deposits
        • GP 7: Increase Multi-chain Inventory and Update Bob Swap
        • GP 8: Extend pool limits for KYC'd users
        • GP 9: Deactivate Kyberswap inventory pairs [Emergency Measure]
        • GP 10: Reallocate previous Kyberswap inventory
        • GP 11: Add 24 hour timelock to BOB contract on Optimism
        • GP 12: Raise Polygon limits
        • GP 13: Launch BOB CDP
        • GP 14: Migrate BOB pool to USDC on Polygon
        • GP 15: KYB tiers on Optimism
        • GP 16: Remove excess inventory on Arbitrum and BNB Smart Chain
        • GP 17: Remove excess inventory on Optimism and Ethereum
        • GP 18: Remove excess inventory on Polygon
        • GP 19: Accrued Revenue Allocation
        • GP 20: Migrate BOB pool to USDC on Optimism
        • GP 21: BOB inventory reduction
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  • Proposal objective
  • Proposal Details
  • Proposal breakdown
  1. BOB DAO
  2. Governance
  3. Protocol Governance

GP 13: Launch BOB CDP

PreviousGP 12: Raise Polygon limitsNextGP 14: Migrate BOB pool to USDC on Polygon

Last updated 1 year ago

The proposal was confirmed and executed.

  • Polygon Safe Transaction

  • Polygon tx:

Proposal objective

The proposal consists of 3 parts:

  1. Upgrade the BOB token implementation to the latest version.

  2. Prepare BOB protocol for launch of CDP - launch flash and surplus minters.

  3. Approve launch of BOB CDP - enable debt minter with initial issuance limits.

Proposal Details

BOB CDP is an independent BOB issuance module, developed by BOB R&D team. The CDP module lets users leverage BOB-paired Uniswap V3 LPs as collateral to mint BOB tokens. The protocol has been audited by Decurity - the source code and report can be found here -

governance has full control over the CDP minters and their limits, as well as all CDP generated revenue, while the smaller BOB CDP governance team oversees the CDP configuration itself, its parameters and risk factors.

Three different non-upgradeable BOB minters must be enabled for optimal operation.

  1. Flash minter - flash mints implementation according to to be later used in liquidation process and other integrations

  2. Debt minter - minter responsible for principal debt issuance subject to pre-configured limits.

  3. Surplus minter - minter responsible for CDP revenue collection in a form of realized and unrealized interest

Proposal breakdown

Polygon

Action 1

Action 2

Initial flash mint limit is set to 200,000 BOB.

Minting rights can be revoked by the BOB DAO governance process within future proposals, if needed.

Action 3

Debt limit is set to 500,000 BOB

Minting rights and limit adjustments can be configured by BOB DAO governance process in future proposals.

Action 4

Manual/automated interest collection can be facilitated by the BOB DAO governance process in future proposals.

The transaction in the Safe on Polygon contains 4 actions:

The BobToken contract upgrade (). The new implementation is . The upgrade is made using the upgradeTo method.

Enable BOB FlashMinter .

Ownership of flash minter is set to the dedicated BOB CDP governance team , contract is not upgradeable.

Enable BOB DebtMinter . The current minting rights are set for CDP .

Ownership of debt minter is set to the BOB DAO governance at , contract is not upgradeable.

Enable BOB SurplusMinter for collection of realized and unrealized interest collected within the scope of CDP. This contract is set as the minter for the surplus minter.

Ownership of surplus minter is set to the Main BOB governance at https://polygonscan.com/address/0xd4a3d9ca00fa1fd8833d560f9217458e61c446d8, contract is not upgradeable.

πŸ§‘β€πŸ€β€πŸ§‘
#30
https://polygonscan.com/tx/0x673c2f3765d380cf54db35cbdf6fa4d8c5a2227a1eba85d6590dbc5157a5736b
https://github.com/zkBob/bob-cdp-contracts
BOB DAO
EIP 3156
#30
0xB0B195aEFA3650A6908f15CdaC7D92F8a5791B0B
0x336000399755e2EacFb2e2f9e8241b806ee33B8b
0x511661e6068b69a9c6532E353ae2a3f9F2594eD9
0x4dCB8C1e4721651130c17DDc28513be50238e32D
0x9032e988F5d46e0a21629e9EFFbb000Cfbc28e2d
0xFDBC53080AFb08d7a3A2420e902c8AeC05E4aE73
0xd4a3D9Ca00fa1fD8833D560F9217458E61c446d8
0x904B6EBd837d9ee6330CF357f902172e9DFEdFD5
0xFDBC53080AFb08d7a3A2420e902c8AeC05E4aE73
0xd4a3D9Ca00fa1fD8833D560F9217458E61c446d8