title: [ARFC] Set OP Emission Admin
author: @karpatkey_TokenLogic, @ACI & @ChaosLabs
created: 2024-02-14
Simple Summary
This proposal enables a SAFE with signers from @karpatkey_TokenLogic, @ACI and @ChaosLabs to distribute OP rewards across Aave v3 on Optimism.
Motivation
Chaos Labs has been engaged by the Optimism Foundation to support the migration from bridged USDC.e to native USDC on the network.
As part of this project, a SAFE is to be created that will receive OP tokens on behalf of the Aave DAO. From this SAFE the OP rewards are to be distributed on Aave v3 Optimism.
The SAFE will be 3 of 3 and contains a nested SAFE that is 1 of 2.
There is currently 15.48M units of USDC.e deposited on Optimism v3 that Chaos Labs & the Optimism Foundation intend to attract to USDC with the use of OP rewards.
Specification
The EmissionManager, a governance controlled function, assigns the Emission_Admin role for a specified token, OP on the Optimism network.
The Emission_Admin role controls the distribution of the specified token, OP, across the specified Aave v3 deployment.
The Emission_Admin can distribute OP anywhere across the Aave v3 Optimism Liquidity Pool.
Implementation
Set Emission_Admin permission for OP to the following SAFE address:
Aave v3 Optimism
Address Reward (OP): 0x4200000000000000000000000000000000000042
EMISSION_ADMIN: 0x3479CEb4b1fcaDC586d4c5F1c16b4d8c0D70Bc71
The AIP call setEmissionAdmin() method in the emission_manager contract.
EMISSION_MANAGER.setEmissionAdmin(OP,EMISSION_ADMIN);
Disclosure
TokenLogic, karpatkey, ACI and Chaos Labs receive no payment for this proposal. TokenLogic, karpatkey and ACI are all delegates within the Aave community.
Next Steps
- Gather feedback from the community and risk service providers.
- If consensus is reached on this ARFC, escalate this proposal to the Snapshot stage.
- If Snapshot outcome is YAE, escalate this proposal to AIP stage
Copyright
Copyright and related rights waived via CC0.