Protocol Parameters
Below is a list of all of the implemented parameters for the ESD protocol as of EIP-10's passing:
Basics
- Epoch Length: 28,800 Seconds (8 Hours)
- Advance() incentive: 100 ESD
- DAO Lockup: 15 Epochs
- LP Lockup: 5 Epochs
Supply Mechanics
Oracle
- Source: Uniswap USDC/ESD pair
- Method: Uniswap V2 Time Weighted Average Price (TWAP)
- Oracle Minimum: 10,000 USDC
- Period: 1 Epoch (8 Hours)
Supply/Debt Expansion
TWAP above 1 USDC where totalCoupons = totalRedeemable
- Maximum Supply Expansion: 3%
- Expansion Percentage: (
twapPrice - 1) * 100
or 3% (whichever is lower) - Expansion Distribution:
- DAO: 77.5%
- Redeemable: 0%
- Uniswap ESD/USDC LPs: 20%
- Treasury: 2.5%
TWAP above 1 USDC where totalCoupons > totalRedeemable
- Maximum Supply Expansion: 6%
- Expansion Percentage: (
twapPrice - 1) * 100
or 6% (whichever is lower) - Expansion Distribution:
- DAO: 0%
- Redeemable: 77.5%
- Uniswap ESD/USDC LPs: 20%
- Treasury: 2.5%
TWAP below 1 USDC
- Maximum Supply Expansion: 0%
- Maximum Debt Expansion: 3%
- Expansion Percentage:
(1 - twapPrice) * 100
or 3% (whichever is lower) - Expansion Distribution:
- DAO: 0%
- Redeemable: 0%
- Uniswap ESD/USDC LPs: 0%
- Treasury: 0%
Coupons
- Max debt ratio: 20%
- Max coupon premium: 56%
- Premium curve: source
Governance
Protocol Governance
- Platform: ESD DAO
- On-Chain: Yes
- Voting Length: 9 Epochs
- Proposal expiry: 3 Epochs (If not committed after successful vote)
- Proposal Threshold: 0.5% of ESD bonded in the DAO
- Voting Quorum: 20%
- Super Majority: 66%
- Emergency Delay: 6 Epochs
Treasury Governance
- Platform: Snapshot Page
- On-Chain: No
- Voting Period: ~3 Days (Not enforced)
- Proposal Threshold: 100,000 ESD bonded in the DAO or LP
- Voting Quorum: None
Contracts
ESD Token
- Address: 0x36f3fd68e7325a35eb768f1aedaae9ea0689d723
- Symbol: ESD
- Decimals: 18
- Standard: ERC-20
ESD DAO
- Address: 0x443d2f2755db5942601fa062cc248aaa153313d3 (Proxy Contract)
- Symbol: ESDS
- Standard: None, it's an internal state.
Treasury
- Address: 0x460661bd4A5364A3ABCc9cfc4a8cE7038d05Ea22
- Type: Gnosis Safe (Multi-signature)
- Signers: 7
- Threshold: 4 of 7 signatures