About the Paladin Emergency Protocol (PEP) category

Paladin Emergency Protocol (PEP)
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Considering the importance of timing in certain situations, this category was recently brought to Paraswap Governance and aims to prepare the DAO for any potential emergency action that might have to be done.

  • Tier 1
    Scope: User funds are at risk
    Actions: Immediate intervention by pausing the system, then a community discussion + PEP 24h vote time for further actions. Since the admin rights are held by the Paladin Core multisig at the moment, only the Core Team will be able to pause the contracts and should release a postmortem on the forum.

However, we could consider electing a Governance committee to take this function and further decentralize the protocol ownership in the future.

  • Tier 2
    Scope: Risk on protocol economic activity (eg: Bug on Warden allowing to keep a boost after the renting period, bug on Quest allowing to be in several ones at the same time etc, or any economic attack/exploit possible)

Actions: 6-12h feedback emergency on the discord/forum then PEP 24h vote time. If the attack happens 24h before the distribution, the reaction should be immediate and follows the same process as Tier-1. The action should be to pause the compromised module only, if possible. A post mortem is also needed in this case.

  • Admin: Team multisig
  • Quorum: 5% of the hPAL total supply
  • Voting duration: 1 day
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Reminder of the required information for any proposal type

Governance forum post: Each proposal should be posted on the forum for at least 48h which allows the community to give feedback, propose changes, and vote on a sentiment poll. Forum topics also need to reach some consensus before posting on snapshot.

Proposal type, number and name: Each proposal must be easily identifiable and classified :

  • Type: This will be detailed in the second part of the proposal
  • Name: The name must be the same on the forum post and snapshot (Max 10 words)
  • Number: Each topic needs a n° to identify the post order on the forum & on snapshot

Summary: Short description of the proposal (1-2 sentences max)
Rationale: Detailed explanation of the proposal
Means: Resources needed for this proposal (if any)

  • Human resources: Special skills required (Dev or others)
  • Treasury resources: Proposal cost, % of the treasury required

Voting options: List the options available on the snapshot vote, including an “Abstain” one.